Vietnam needs some $72 billion to invest in developing infrastructure for industrial zones (IZs) planned to 2030, according to the Institute for International Investment Studies (ISC).

By 2030, Vietnam will have an additional 120,000 ha of IZs, both industrial parks and export processing zones, under the national land use plan approved by the National Assembly in November 2021.

The ISC estimated that average investment needed to develop one hectare of IZ land is $600,000, based on current land prices, land compensation costs, and construction costs.

Vice Chairman of the ISC Member Council Ngo Cong Thanh told a recent meeting held to discuss the situation of IZs in Vietnam that investment cost in developing IZs is increasing rapidly.

Total investment capital for developing IZs in 2022 stood at $28 billion, he said.

As of the end of 2023, there were 414 newly-established IZs nationwide, including four export processing zones, on a total area of 89,126 ha. Of these, 293 IZs had been put into operation.