The industrial park (IP) infrastructure business of the Vietnam Rubber Group (VRG) has grown strongly in recent years, generating high efficiency and an increasing share of the Group’s total profit.
This is considered a core business sector, effectively utilizing VRG’s extensive land resources and contributing significantly to the Group’s overall production and business performance. In 2020 alone, VRG’s IPs contributed VND 1,548 billion to the state budget, exceeding the plan by 92%.
Impressive Performance and Strong Growth
Table of Contents
VRG currently invests in 11 subsidiaries engaged in industrial park infrastructure development, including 8 member companies (Bac Dong Phu, Dau Giay, Nam Tan Uyen, An Dien, Tan Binh, Long Khanh, Saigon VRG Investment, Binh Long Rubber IP) and 3 affiliates.
These entities manage 16 projects covering a total area of over 6,566 hectares, concentrated in provinces such as Ho Chi Minh City, Dong Nai, Binh Duong, Binh Phuoc, Tay Ninh, and Gia Lai.
Despite the challenges of COVID-19 in 2020, VRG’s industrial parks recorded robust performance, achieving and exceeding most business targets:
-
Revenue: VND 1,465 billion (+9% plan)
-
Pre-tax profit: VND 1,009 billion (+16% plan)
-
Post-tax profit: VND 844 billion (+27% plan)
-
Average ROE: 60%
-
Tax contribution: VND 1,548 billion (+92% plan)
-
Average salary: VND 11.1 million/person/month (+7% plan)
Leading Projects Drive VRG’s Industrial Growth
Nam Tan Uyen Industrial Park (NTC) remains one of VRG’s top performers, consistently ranking first in both revenue and profitability.
In 2020, NTC achieved:
-
Revenue: VND 455 billion (+10% plan)
-
Post-tax profit: VND 262 billion (+10% plan)
-
Tax payment: VND 50 billion (+15% plan)
-
Average income: VND 14 million/month (+12% plan)
According to Mr. Huynh Huu Tin, Deputy General Director of NTC:
“The company is expanding Phase III, covering 345 hectares, while also investing in other parks such as Bac Dong Phu, Minh Hung 3, Dau Giay, Tan Binh, and Saigon VRG, all generating steady dividends and sustainable returns.”
Tan Binh Industrial Park (TBIP), though established only five years ago, has also shown remarkable results. Its Phase I (352.5 ha) is almost fully occupied, prompting earlier-than-planned implementation of Phase II (1,055 ha).
By 2020, TBIP had attracted 64 projects from 61 enterprises — including 33 domestic and 31 foreign investors — employing 11,300 workers, among them 450 foreign experts.
-
2020 revenue: VND 385 billion (+1% plan)
-
Post-tax profit: VND 191 billion (+27% plan)
-
Tax payment: VND 197 billion
-
Average income: VND 12 million/month (+24% plan)
Bac Dong Phu Industrial Park has also drawn 43 investors (31 domestic, 12 foreign), consistently meeting business targets and contributing to local socio-economic development.
“Alongside production goals, the company ensures stable income for employees, fulfills tax obligations, and contributes to community and social programs,” shared Mr. Pham Phi Dieu, General Director of Bac Dong Phu IP.
Expanding Scale and Unlocking Land Potential
With a total land bank of approximately 407,800 hectares, VRG is leveraging its rubber land conversion advantage to accelerate industrial park development. This strategy offers lower compensation costs, faster procedures, and strategic locations in high-growth areas with competitive land prices and well-developed infrastructure.
Over the coming years, VRG plans to expand over 5,000 hectares of industrial park land, with key projects including:
-
Tan Binh IP Phase II – 1,055 ha (largest expansion)
-
Tan Lap 1 IP – 400 ha
-
Hoi Nghia IP – 560 ha
-
Minh Hung 2 Expansion – 590 ha (Binh Duong)
-
Bac Dong Phu & Nam Dong Phu Expansions – 800 ha (Binh Phuoc)
-
Dau Giay IP Expansion – 75 ha
-
Long Khanh IP Expansion – 500 ha (Dong Nai)
-
Nam Pleiku IP Expansion – 200 ha (Gia Lai)
According to Mr. Huynh Kim Nhut, Chairman of Phuoc Hoa Rubber JSC, converting low-yield rubber land into industrial park infrastructure — particularly Nam Tan Uyen and Tan Binh — has greatly improved economic efficiency, boosted profits, and enhanced livelihoods for local workers.
For instance, dividends from Tan Binh IP brought Phuoc Hoa Rubber VND 19.2 billion in 2018 and VND 128 billion in 2019.
Toward a Sustainable Industrial Future
With strong infrastructure, strategic location, competitive costs, and investor-friendly policies, VRG’s industrial parks are set to become key growth drivers in the Group’s diversified portfolio — contributing to local employment, tax revenue, and Vietnam’s sustainable industrialization.