According to the firm, Vietnam has 33,000 ha of industrial land for rent with an occupancy rate of up to 80%.

The average rental is US$5.4 per sq.m per month, mostly in the south. However, industrial real estate in northern provinces surrounding Hanoi such as Bac Giang and Hai Duong is also seeing rapid growth.

General Director of Savills Vietnam Neil MacGregor said that in the context global fluctuations, since the beginning of this year, Vietnam has emerged with a stable growth rate and is a favourite destination for diverse foreign direct investment (FDI) flows from Singapore, China and Japan, among others.

Notably, Vietnam continues to increase its position in the global value chain thanks to its accumulated production experience, efforts to develop infrastructure and its strength in young and skilled labour. Therefore, the real estate market is also supported, especially in the industrial, retail, office and residential segments.

CEO of InCorp Vietnam Jack Nguyen said that FDI capital flows to Vietnam mainly focus on manufacturing, real estate and energy industries. Singapore, Japan and Hong Kong (China) are still the largest investors in Vietnam.

He said Vietnam, with many new industrial parks being developed, is becoming an attractive destination for Chinese enterprises that want to diversify their supply chains. InCorp Vietnam has received consulting requests from many Chinese companies, especially in the northern market.

He added that many Chinese manufacturers are moving to Vietnam to set up their supply chains. Building a large-scale industrial park right on the outskirts can create a new wave of investment.