In early March 2024, Deputy Prime Minister Le Minh Khai signed Decision No. 214/QD-TTg approving the investment policy for the infrastructure construction and operation project of Hiep Thanh Industrial Park - Phase 1, Tay Ninh Province. This project covers an area of 495.17 hectares and is developed by Vietnam Rubber Group - Joint Stock Company (stock ticker: GVR - HoSE).
Concurrently, Deputy Prime Minister Tran Hong Ha also signed Decision No. 227/QD-TTg adjusting several land-use targets up to 2025. This move opens up positive prospects for the implementation of the Bac Dong Phu Industrial Park project (in which Vietnam Rubber Group holds a 45% stake). The project is expected to receive investment policy approval within this year, proceed with investment implementation, and commence commercial operations by late 2025.
Last year, land handover commenced for the 345-hectare Nam Tan Uyen 3 Industrial Park in Binh Duong Province, developed by Nam Tan Uyen Joint Stock Corporation (stock ticker: NTC, with Vietnam Rubber Group holding a 20.42% controlling stake).
Following years without additions to its clean land bank, these legal breakthroughs are considered "much-needed relief," fueling both short- and long-term growth momentum for the industrial real estate segment of Vietnam Rubber Group.
According to a recent report by KB Securities Vietnam (KBSV), following the land allocation decision, Nam Tan Uyen 3 Industrial Park is currently awaiting land-use levy appraisal. In Q4 2023, this industrial park signed a series of land lease Memoranda of Understanding (MoUs) totaling up to 35 hectares, with an average rental price of USD 140/m². This raised the total leased land area committed under MoUs to 85 hectares.
Nam Tan Uyen 3 Industrial Park is situated within the key economic zone of Binh Duong Province, occupying a prime location adjacent to the barge port cluster and the Thach Phuoc Inland Container Depot (ICD), just 32 km from Cat Lai Port and approximately 30 km from Tan Son Nhat International Airport. Leveraging its excellent transportation infrastructure connectivity, KBSV expects Nam Tan Uyen 3 Industrial Park to quickly achieve a high occupancy rate.
According to preliminary estimates by Nam Tan Uyen, Nam Tan Uyen 3 Industrial Park is projected to generate an annual cash flow of over VND 600 billion and an annual profit after tax of approximately VND 400 billion through 2027–2028 once brought into commercial operation, which is anticipated to begin this year.
Regarding Hiep Thanh Industrial Park - Phase 1, the project is located right next to National Highway 22B, taking only 15 minutes to reach the Moc Bai International Border Gate—the largest land border crossing in Southern Vietnam—and 75 minutes to commute to Ho Chi Minh City.
Furthermore, the industrial park offers convenient 10-minute access to the existing Phuoc Dong Industrial Park (spanning 2,838 hectares). Phuoc Dong Industrial Park is currently the largest industrial, urban, and commercial complex in Tay Ninh Province.
These strategic advantages are expected to enable Hiep Thanh Industrial Park - Phase 1 to readily attract tenants as soon as it begins executing land lease MoUs. KBSV currently estimates that Vietnam Rubber Group could commence land leasing operations at this industrial park starting in 2025.
Under its strategic plan, the parent company—Vietnam Rubber Group—expects to disburse VND 1,146 billion for development investments this year, the majority of which is allocated toward Hiep Thanh Industrial Park - Phase 1.
Regarding its medium- and long-term orientation, Vietnam Rubber Group continues to focus on investing in industrial park projects across the Southeast region. The corporation is currently actively finalizing the legal dossiers for a series of industrial park projects.
Among these, the 360-hectare Rach Bap Industrial Park - Phase 2 in Binh Duong Province (in which Vietnam Rubber Group holds a 93% equity stake) has undergone master plan appraisal by the Ministry of Planning and Investment and been submitted to the Prime Minister for investment policy consideration and approval.
As for the 577-hectare Minh Hung 3 Industrial Park expansion in Binh Phuoc Province (in which Vietnam Rubber Group holds a 55% stake), Vietnam Rubber Group has completed the Pre-Feasibility Study Report and submitted it to the Ministry of Planning and Investment for appraisal.
Source: Tapchicongthuong
