With 16 industrial parks (IPs) spanning over 6,500 hectares, the Vietnam Rubber Group (VRG) is currently one of Vietnam’s largest industrial park developers. The Group has been approved to convert nearly 23,500 hectares of rubber land into industrial zones and is now implementing almost 11,000 hectares of projects in southern provinces.
Maximizing Land Use Efficiency
In recent years, VRG’s industrial parks have attracted over 710 investment projects, including 394 FDI projects and 316 domestic projects, with a total registered capital of USD 3.815 billion and VND 34,295 billion. These projects have generated VND 18,243 billion in revenue, VND 7,625 billion in post-tax profit, and created jobs for more than 200,000 workers, contributing VND 7,052 billion to the state budget.
The industrial park infrastructure business has become one of VRG’s most profitable sectors, playing a crucial role in economic restructuring, industrialization, and efficient land use. It has also strengthened the Group’s financial health while contributing to national development and sustainable resource utilization.
From 2021 to 2030, the southern region’s industrial land supply will largely rely on the conversion of rubber plantations. This model offers several advantages, including large land plots, fast clearance, and low compensation costs. Between 2021 and 2025, VRG plans to complete legal procedures and launch industrial and cluster projects covering 2,921 hectares. Additionally, the Group aims to develop 16,592 hectares of new IPs in Tay Ninh, Binh Duong, Dong Nai, and Ba Ria–Vung Tau, of which 10,997 hectares will be directly developed by VRG and 5,615 hectares by affiliated investors.
Strategic Vision and Growth Prospects
VRG’s industrial park segment is poised for accelerated growth in the coming years, as several projects have cleared key legal barriers and are ready for implementation.
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Hiep Thanh Industrial Park (Tay Ninh):
Covering 495 hectares with an investment of VND 2,350 billion, this project received Prime Ministerial approval in March 2024. VRG plans to begin infrastructure construction in 2026, marking a strategic expansion in the southern border province. -
Nam Tan Uyen 3 Industrial Park (Binh Duong):
Spanning 345 hectares, the project received land valuation approval from the Binh Duong People’s Committee in June 2024. VRG plans to lease 90 hectares within this year at rates of USD 125–130/m², achieving an estimated gross profit margin of 60% — still high compared to the industry average, despite being lower than previous Nam Tan Uyen phases. -
Bac Dong Phu and Nam Dong Phu Expansion Projects (Binh Phuoc):
These two key projects are undergoing final legal procedures. Notably, Bac Dong Phu expansion has already received land allocation quotas from the Binh Phuoc provincial government for 2024–2025, paving the way for submission to the Prime Minister for approval. -
Upcoming Developments:
VRG is also preparing documentation for Rach Bap Industrial Park Phase 2 (360 ha, Binh Duong) and Cong Hoa Industrial Park Phase 2 (190 ha, Hai Duong), reflecting its strategy to expand northward while reinforcing its dominance in southern Vietnam.
Sustainable and Long-Term Vision
VRG’s industrial development strategy emphasizes balanced regional growth, green industrial zones, and sustainable land transformation. By leveraging its extensive land resources, deep industry experience, and strong government partnerships, VRG aims to lead Vietnam’s next wave of industrial infrastructure development, ensuring both economic efficiency and environmental responsibility.