Following a strategic merger with Ha Nam and Nam Dinh provinces, Ninh Binh has been redefined on the map of Northern Vietnam, emerging as a large-scale economic, industrial, and tourism hub. This new status creates a dynamic inter-regional value chain, establishing a solid foundation to attract high-tech manufacturing projects. With an expanded area of nearly 4,000 km² and a population exceeding 4.4 million, the province offers a deep labor pool, supplemented annually by 44,000–50,000 young, skilled workers.
As a key component of Vietnam's economic engine, Ninh Binh's industrial real estate market is experiencing robust growth. According to Cushman & Wakefield, the cumulative industrial land supply reached approximately 5,082 hectares as of Q3 2025, with a future pipeline of nearly 3,000 hectares in planning and development phases. Industrial land lease prices in Ninh Binh are estimated at a competitive $130–$140 USD/m²/lease term, maintaining a strong value proposition compared to neighboring localities.
EXISTING INDUSTRIAL LAND SUPPLY, Q3 2025
Source: Cushman & Wakefield
The province's investment appeal is clearly evidenced by the presence of leading technology corporations such as Honda, Canon, Hyundai, and LG Display. These ‘Queen Bee’ multinationals not only drive significant FDI inflows but also cultivate a vast ecosystem of auxiliary production, attracting a swarm of ‘worker bee’ suppliers. This wave generates strong demand for logistics, warehousing, and hundreds of thousands of high-skilled jobs. According to Cushman & Wakefield, land lease demand in Ninh Binh is growing at 5–7% annually, driven by investors from South Korea, Japan, China, the United States, and Europe, affirming the province's strategic role in the global supply chain.
In response to strong market demand for modern, integrated industrial infrastructure, Western Pacific Group (WPG) has officially broken ground on Dong Van V Industrial Park - Phase 1 on October 10, 2025. The project spans nearly 240 hectares with a total investment of approximately VND 2,900 billion.
Positioned as the ‘golden interchange’ south of the Hanoi Capital Region, Dong Van V IP offers superior logistics advantages for import-export activities. The park provides direct access to critical transport arteries, including the Phap Van–Cau Gie Expressway, National Highway 1A, and the national railway system. This facilitates seamless circulation of raw materials and finished goods, with Noi Bai International Airport 70 km away, the planned Gia Binh Airport, Hai Phong Port 110 km away, and direct routes to the Vietnam-China border, expanding access to key export markets.
Groundbreaking ceremony and commencement of Dong Van V Industrial Park
Source: Western Pacific
Specialized Technical Standards and Cost Optimization
The project is developed based on a Logistics-Integrated Industrial Cluster model. This framework provides a "ready-to-operate" advantage with modern systems for power, water supply and drainage, wastewater treatment, high-speed internet, and international-standard ready-built factories. This model fundamentally eliminates many of the risks and hidden costs associated with traditional factory development, including project management fees, construction delays, and quality control issues, ensuring a faster time-to-market.
First, regarding foundation and operating environment, the IP is built on solid ground, allowing manufacturers to easily drive piles for heavy floor loads. This minimizes foundation treatment costs and accelerates construction timelines for heavy manufacturing lines.
Second, in terms of building design, the IP permits the construction of multi-story factory structures up to five floors. This multiplies the production capacity on a single land plot, thereby optimizing land lease costs and enhancing the return on investment (ROI) for light and supporting industries.
Flexibility is a standout feature. Of the total 190.25 hectares of commercial land, industrial lots can be flexibly subdivided to a minimum of 0.5 hectares. This capability is a rare advantage for high-standard projects in Ninh Binh, allowing businesses to lease the precise scale of production space needed and avoid the financial burden of unused area. The project is suited for companies of all sizes, from SMEs, startups, and Tier 2**/3*** suppliers to large Tier 1 corporations requiring phased production space for rapid operational launch.
Mr. Tran Anh Vuong, CEO of Western Pacific Group, affirmed the Group's strategic vision: "Our goal is not merely to develop physical infrastructure, but to create a complete, logistics-integrated industrial ecosystem. This is a place where billion-dollar FDI investors, SMEs, and supporting industries can connect, optimize the value chain, and drive the development of a sustainable supply chain for the entire region."
The internal transport system is optimized for production logistics, featuring a 99.5-meter-wide main axis (12 lanes) and two internal trunk roads of 48m and 51m (4 lanes), all engineered for heavy loads. This ensures the uninterrupted transport of high-volume materials and finished products, minimizing congestion and logistics costs. A stable power supply from a dedicated 110KV substation is critical for high-tech manufacturing, where capacity shortages can cause significant losses. The clean water supply capacity in Phase 1 is 9,600 m³/day, and the wastewater treatment plant has a total designed capacity of 7,500 m³/day, meeting stringent environmental standards. This helps manufacturers mitigate legal compliance risks and satisfy the ESG requirements of international partners.
Overview of Dong Van V Industrial Park project
Source: Western Pacific
Furthermore, the site's topography and drainage systems are engineered for high resilience against natural disasters such as typhoons and flooding, ensuring uninterrupted production—a critical requirement for the electronics, precision engineering, supporting industries, and new materials sectors.
Comprehensive Industrial Solutions from Western Pacific Group Experts
Western Pacific Group (WPG) is more than an infrastructure developer; it is a strategic partner with extensive experience in developing millions of hectares of industrial land and supporting thousands of clients in Vietnam. WPG's seasoned experts offer a comprehensive "one-stop" solution, from specialized technical infrastructure to manufacturing and human resources support.
The comprehensive support ecosystem includes specialized recruitment services, from strategy formulation to multi-sector talent acquisition. Management challenges are addressed with full-service accounting and legal consulting, covering bookkeeping, financial and tax reporting, and in-depth tax advisory. Proactive maintenance and emergency support services ensure equipment operates at peak efficiency, removing the burden of auxiliary operations from businesses.
The Group places special emphasis on enabling SMEs and Tier 2/3 suppliers to integrate into the supply chain. International-standard Ready-Built Factories (RBF) are available to significantly shorten project deployment times. The IP also prioritizes worker welfare, providing support for the planning of employee housing, commercial areas, and medical facilities.
Speaking at the groundbreaking ceremony, Ms. Nguyen Nu Phuong Chau, Chief Business Officer of Western Pacific Group, emphasized: "In parallel with our green and sustainable development orientation, we have allocated 25.18 hectares—nearly 11% of the total area—to green spaces and ecological landscapes. This is not just a land-use calculation; it is an ESG commitment to harmonize industrial growth with environmental protection and operational quality. We believe that a modern industrial park is measured not only by its leasable area but also by its operational efficiency, safety, and sustainability—a place where people, businesses, and the environment can thrive together."
Ninh Binh’s Ascent as Northern Vietnam’s New Industrial Center
Alongside its industrial development, Ninh Binh's tourism sector has made a powerful mark, attracting over 10 million visitors annually, including more than 2 million international tourists, with tourism revenue in 2025 projected to exceed VND 12,700 trillion. Signature cultural events like the Tam Coc–Trang An Golden Colors Tourism Week and the Trang An Forestival have helped cement Ninh Binh’s position as a premier heritage destination in Asia.
The provincial government is strongly committed to supporting manufacturing through administrative reforms like the “16-Hour Green Lane” and “50% Green Lane” models, which streamline investment and construction procedures. On the financial front, manufacturers benefit from preferential corporate income tax policies and customs incentives, including import tax exemptions for machinery and expedited customs clearance, creating a significant competitive advantage in capital costs.
The Dong Van V IP project is not only a strategic step in attracting investment but also part of a grander vision to elevate Ninh Binh to a centrally-governed city by 2030. In the 2025–2030 period, Western Pacific Group will continue to expand this industrial ecosystem with the adjacent Dong Van VI Industrial Park, increasing its total investment footprint in Ninh Binh to approximately 600 hectares.
** Tier 2 Suppliers typically produce specialized components or sub-assemblies that are supplied to Tier 1 suppliers, who then integrate them into the final product for original equipment manufacturers (OEMs).
*** Tier 3 Suppliers operate further upstream, providing raw materials or basic processed inputs that are used by Tier 2 manufacturers. Together, these tiers form the foundational layers of the industrial supply chain, supporting production at varying levels of complexity and scale.
