Haiphong, Vietnam – Sembcorp, a leading energy and urban development group, continues to deepen its long-standing contribution to the economic partnership between Singapore and Vietnam with the latest expansion of its industrial real estate footprint. The company recently held a groundbreaking ceremony for its Sembcorp Logistics Park Dinh Vu in Haiphong, signaling its commitment to meeting the burgeoning demand for high-quality industrial facilities in northern Vietnam.
In an exclusive interview with Vietnam Investment Review (VIR), James Ng, Director of Sembcorp Infra Services, highlighted the strategic importance of this new development. "Location is paramount for our tenants," Ng stated. "Sembcorp Logistics Park Dinh Vu, situated within the Dinh Vu Industrial Park, offers unparalleled access to China's supply chain, the Dinh Vu port, and the Lach Huyen deepsea port. Its inclusion within the Dinh Vu-Cat Hai Economic Zone also provides attractive government tax incentives, making it a compelling choice for businesses looking to optimize their operations."
This latest project builds upon Sembcorp's existing presence in Haiphong, where it has already established four other ready-built facilities within the Vietnam-Singapore Industrial Park (VSIP) Haiphong. Ng emphasized that the Vietnamese government's sustained investment in infrastructure across road, rail, air, and water transport is a significant catalyst for investment growth in the northern region. Haiphong's impressive second-place ranking nationwide for attracting foreign direct investment in 2024 underscores the region's economic dynamism and Sembcorp's strategic focus.
Beyond strategic location, Sembcorp is placing a strong emphasis on sustainable development. The Sembcorp Logistics Park Dinh Vu is designed to achieve LEED Silver certification, incorporating eco-friendly features aimed at enhancing energy efficiency, minimizing environmental impact, and fostering healthier working environments for tenants.
Ng further elaborated on the broader advantages for businesses choosing Sembcorp facilities. "Our tenants benefit from access to our extensive nationwide network of over 1,000 manufacturers and suppliers, all integrated within our VSIPs and Sembcorp Logistics Parks," he explained. "This provides a significant strategic advantage, enabling them to tap into our established presence and reach a wide base of reputable, high-quality enterprises."
Looking ahead, Ng identified key trends shaping Vietnam's industrial real estate market in 2025. These include robust inflows of overseas funding, the ongoing expansion of industrial parks, and the rapid growth of e-commerce and logistics sectors. Vietnam witnessed a record high in foreign investment disbursement in 2024, a trend expected to continue in 2025, driven by production diversification and the nation's ambition to become a hub for high-tech industries such as semiconductors and the digital economy.
To accommodate this growth, Vietnam is actively increasing the supply of industrial land and prioritizing the development of ready-built facilities within industrial parks. The booming e-commerce and logistics sectors are further fueling demand for modern, high-specification industrial spaces.
Sembcorp, in partnership with Becamex IDC, is a driving force behind the highly successful VSIPs, which serve as a cornerstone of the Vietnam-Singapore economic relationship. Since their inception in 1996, Sembcorp has been instrumental in establishing 18 VSIPs across Vietnam. These parks have collectively attracted over $23 billion in investment capital from nearly 1,000 tenant companies, generating approximately 320,000 employment and community living opportunities nationwide.
The commitment to this partnership was further underscored in March with the approval of two new VSIP projects – VSIP Nam Dinh and VSIP Nghe An III – coinciding with the upgrade of the comprehensive strategic partnership between Singapore and Vietnam, bringing the total number of VSIPs to 20.
Sembcorp is also playing a crucial role in Vietnam's energy transition, providing a total of 457MW in renewable energy capacity to the national grid, factories, businesses, and homes. With established ready-built facilities in key industrial hubs including Haiphong, Bac Ninh, Hai Duong, Quang Ngai, Nghe An, and Binh Duong, Sembcorp remains committed to a demand-driven approach, ensuring the provision of high-quality, green, and energy-efficient industrial spaces in strategically important locations. Through its continued investment and development, Sembcorp reinforces its position as a principal driver of the enduring and deepening economic ties between Singapore and Vietnam.
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