According to forecasts from Savills Vietnam, by the end of 2024, the semiconductor industry in Vietnam is expected to surpass a value of USD 6.16 billion, making Vietnam one of the key production centers for many global semiconductor companies.
Vietnam has recently garnered attention for its potential to attract investments in high-tech industries, such as semiconductors, presenting a promising outlook for the industrial real estate market.
Following a series of visits from global tech conglomerate leaders, Vietnam is considered to have significant opportunities in the semiconductor manufacturing sector. Many experts believe that this could be the new driving force that propels Vietnam towards prosperity.
Great Potential Through High-Tech Investment Attraction
According to forecasts from Savills Vietnam, by the end of 2024, the semiconductor industry in Vietnam is expected to surpass a value of USD 6.16 billion, making Vietnam one of the key production centers for many global semiconductor companies.
Several semiconductor firms from the Netherlands have already started to enter the Vietnamese market. Specifically, BE Semiconductor Industries N.V has received an investment certificate in the Ho Chi Minh City High-Tech Park, with an initial investment of over VND 115 billion to lease factories for production.
Recently, Foxconn, the world’s largest electronics contract manufacturer, established an entity to implement a project worth over USD 383 million in the Nam Son-Hap Linh Industrial Park in Bac Ninh Province. This project involves the production, assembly, and processing of printed circuit boards (PCBs), with a total capacity of 2.79 million products per year, covering an area of 14.26 hectares and a total investment of more than VND 9,400 billion (equivalent to USD 383.3 million).
The increasing demand for FDI is expected to continue as Vietnam remains central to the relocation of production chains of global corporations. Besides its strategic location as a gateway for trade in the Asia-Pacific region, Vietnam is also considered a strategic option in the production relocation and supply chain diversification strategy of many high-tech manufacturing corporations.
Enhancing the Quality of Industrial Parks
The anticipated continued inflow of FDI into Vietnam is seen as a catalyst for the ongoing development of Vietnam's industrial real estate. In major industrial hubs such as Binh Duong and Bac Ninh, even industrial real estate in secondary markets like Ba Ria-Vung Tau, Tay Ninh, and Binh Phuoc is expected to maintain growth momentum thanks to infrastructure development. These factors lead experts to expect further improvements in rental rates for this segment.
Additionally, the government's acceleration of key infrastructure projects is a plus for industrial real estate. Meanwhile, the supply of industrial real estate is witnessing significant growth in both the northern and southern regions. However, to attract semiconductor companies, land and warehouses alone are not sufficient. The complexity of this industry requires additional factors that real estate developers need to consider.
Mr. Truong An Duong, Director of Residential Real Estate at Frasers Property Vietnam, stated that in the near future, the demand for various types of production facilities, as well as research and testing centers, and even exhibition and conference centers within industrial parks, will increase. Moreover, emerging industries such as e-commerce, with its data and technology infrastructure requirements, will also demand changes in industrial park planning.
According to Mr. Thomas Rooney, Senior Manager of the Industrial Leasing Department at Savills Vietnam, the demand for semiconductor production and assembly investment will lead to an increase in the search for factories and industrial parks that meet the infrastructure and service requirements of the semiconductor industry. Basic requirements from businesses include a stable power supply, high-speed internet, and efficient water treatment systems, thus placing demands on the quality and system upgrades of factories from investors in Vietnam.
By Vi Anh
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