Hai Phong – one of the centrally run cities of Vietnam. This is the third largest city in Vietnam, with a strategic location as the northern economic gateway and major seaport. Hai Phong is also the economic, cultural, educational and commercial center of the Northern Coastal region. The strong development of global logistics causes the demand for warehouse rental in Hai Phong to increase. Below are outstanding features of Hai Phong that businesses can consider when choosing a warehouse for rent in Hai Phong.
Seaport infrastructure when choosing a warehouse for rent in Hai Phong
Hai Phong knitting promotes investment in infrastructure to become a leading logistics center. TThe Prime Minister has approved the project to expand Lach Huyen port with 4 new wharves, bringing the total number of seaports in the city to 5 with 98 wharves, enough to receive large ships.
Infrastructure in Hai Phong is carefully invested
The road system is focused on developing, connecting seaports with industrial parks, service areas, inland ports and neighboring provinces, as well as two key economic corridors Vietnam – China. In the past 5 years, many large traffic projects have been completed such as Hanoi – Hai Phong expressway, Tan Vu – Lach Huyen bridge, Hai Phong – Ha Long expressway, creating favorable conditions for goods transportation.
Not only roads, Hai Phong also invested in upgrading Cat Bi airport to 4E international level, capable of serving large aircraft and welcoming 4-5 million passengers per year.
Warehouses serving logistics are concentrated mainly along the Cam River, near major ports such as Hoang Dieu, Chua Ve, and Dinh Vu, forming a complete logistics ecosystem. The conveniences of traffic location help businesses set up warehouses in Hai Phong to easily trade with partners, conveniently transport goods, and optimize the shipping process to bring higher satisfaction to customers.
Industrial parks and economic zones when choosing warehouse for rent in Hai Phong
Hai Phong is growing strongly to become one of the most dynamic economic centers in Northern Vietnam. The year 2024 marks a great step forward for this port city with the goal of attracting 2-2.5 billion USD in foreign direct investment (FDI). In the first half of January 2024, Hai Phong attracted 150 million USD of FDI, showing the attractiveness of the investment environment here.
Hai Phong’s economy has developed strongly in recent years
Hai Phong’s industrial parks and economic zones play an important role in the city’s economic development. In 2023, total investment capital in these areas will reach 4.5 billion USD, of which 3.5 billion USD is FDI from 62 new projects and 37 capital increase projects. The average occupancy rate of 14 existing industrial parks reached 63.25%, showing high demand for production space.
Hai Phong is focusing on expanding industrial parks to attract more FDI, with plans to build 15 new industrial parks. The city also focuses on sustainable development, converting traditional industrial parks into ecological industrial parks, towards a circular economic model.
Hai Phong’s investment attraction policy
Hai Phong is the leading locality in the country in attracting foreign direct investment (Ministry of Planning and Investment, 2021). Hai Phong not only promotes infrastructure development but also focuses on improving the business investment environment. Hai Phong Economic Zone Management Board is trying to create the most favorable conditions to attract large investors, especially projects using high technology, contributing to promoting sustainable economic growth for the city.
Hai Phong’s business support policy attracts many investors
The government also supports and provides incentives on land tax and corporate income tax for businesses doing business in Hai Phong. Hai Phong is focusing on expanding industrial parks to attract more FDI, with plans to build 15 new industrial parks. The city also focuses on sustainable development, converting traditional industrial parks into ecological industrial parks, towards a circular economic model.
Growth potential of the warehouse rental market in Hai Phong
In May 2024, the industry continues to have a positive growth trend. The production index of the entire industrial sector in the City in May was estimated to increase by 17.5% over the same period last year. Some industries maintained high increases right from the beginning of the year such as: Manufacturing computers and computer peripheral devices; production of toys and games; agricultural and forestry machinery manufacturing; paper production and paper packaging (Hai Phong City Statistics Department).
Developing industries also lead to the growth of the rental warehouse market in Hai Phong. The need for businesses to find warehouses is increasing with many diverse needs.
Conclude
With continuous efforts, Hai Phong is affirming its position as an attractive destination for domestic and foreign investors, especially in the fields of industry and logistics. Hai Phong offers many advantages such as convenient strategic location and well-invested infrastructure. Choosing a warehouse for rent in Hai Phong helps businesses develop comprehensively.
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