Vietnam Advised to Improve Industrial Park Services

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Jun. 29 – Vietnam was advised to develop its industrial parks to offer more services to entice more foreign investors to come in.

According to Marc Townsend, the general director of CB Richard Ellis Vietnam, industrial parks in the country should be equipped with trade centers, offices, apartments, hotels and other logistics services in addition to production facilities. Despite charging cheaper rent for its industrial parks compared to other Asian neighbors like China, Vietnam lags behind in offering auxiliary services to support businesses.

Average rentals in local industrial parks around the country range from US$2.2 to US$23.5 per square meter monthly depending on location compared to Chinese industrial parks that can charge from  US$80 and US$201 for a similar one.

Townsend told the Thoi bao Kinh Te newspaper that foreign investors are interested in leasing land in industrial parks that can offer them many supporting services to facilitate their operations, not purely just “land plot surrounded by four walls.”

There are 228 industrial parks in Vietnam with 162 of those in operation and able to attract projects worth a total of  US$60.2 billion.