Authorities in the northern city of Hai Phong have officially approved  investment plans for two new major industrial parks, representing a combined total investment of VND6.735 trillion (approximately $275.5 million).

The projected developments, Thuy Nguyen Industrial Park (Phase 1) and Tien Lang Airport Industrial Park - Zone B, signal the city's ongoing commitment to expanding its industrial infrastructure and attracting high-value investment.

The Thuy Nguyen Industrial Park (Phase 1), will be developed by Taseco Hai Phong Industrial Park JSC.

With a total investment of nearly VND4 billion (over $150 million), the park will span 247.8 ha across the Bach Dang, Nam Trieu, and Hoa Binh wards.

The project timeline indicates that site clearance will take place from the third quarter of 2025 to the fourth quarter of 2026, with the park expected to complete infrastructure construction and become fully operational for business from the fourth quarter of 2028.

The Tien Lang Airport Industrial Park - Zone B will be managed by C.E.O Industrial Park Development JSC.

Located in Chan Hung commune within the Nam Hai Phong Coastal Economic Zone, it has a planned investment of VND2,795.3 billion (nearly $107 million) and will cover 186.4 ha. The development is scheduled for completion within 36 months from the date the state officially allocates or leases the land.

This investment drive coincides with a significant administrative reform in the region. The Hai Phong Economic Zone Authority (HEZA) was recently established through a merger of the former Hai Phong Economic Zone Management Board and the Hai Duong Industrial Zones Management Board, as a result of the merger between former Hai Phong city and former Hai Duong province.