The People’s Committee of Hai Phong City in north Vietnam has approved investment policies for the development of two new industrial parks (IPs), aiming to boost high-tech manufacturing and infrastructure development in the region.

The Thuy Nguyen High-Tech IP, located within the Dinh Vu – Cat Hai Economic Zone, will span nearly 248 hectares. The project has a total investment capital of more than VND3.9 trillion (approximately $149.4 million) and will operate for 50 years.

Construction is expected to be completed within three years from the date the land is officially handed over to the investor.

Meanwhile, the Tien Lang Airport IP will cover more than 186 hectares in Chau Hung commune, with an estimated investment of over VND2.79 trillion (around $106 million).

Construction is slated to begin in 2025 and conclude by the first quarter of 2027, also with a planned operational lifespan of 50 years.