The Bac Ninh province People's Committee on August 21 approved the 1/2000 zoning plan for the project. Earlier, in late April, local authorities approved Kinh Bac City as the project’s developer.

Under the investment plan, the IP will cover over 140.3 hectares in Bong Lai and Phuong Lieu wards and Chi Lang commune. The site lies approximately 600 meters west of the existing Que Vo Industrial Park.

To the north, the Noi Bai-Bac Ninh-Ha Long Expressway runs near the project, while the Duong River flows just over 2 kilometers to the south.

Kinh Bac City plans to begin construction in Q1/2026, with completion targeted for Q4/2029. Commercial operations are expected to commence as early as Q2/2028.

The company has invested in three industrial parks in Bac Ninh - home to a Samsung factory: Que Vo, Que Vo Expansion, and Nam Son-Hap Linh. The new project - Que Vo Expansion 2 - will mark the company’s fourth industrial park in the province.

Kinh Bac City envisions Que Vo Expansion 2 as a multi-sector, high-tech industrial park, focusing on attracting investment in electronics, electronic components, and precision engineering.

The company views this project as a continuation of the success of its previous industrial parks in the province - Que Vo and Que Vo Expansion, which together span 611 hectares. These two parks, developed since 2003, are now fully occupied, having attracted a total investment of over $3 billion.

According to its audited H1/2025 consolidated financial statement, Kinh Bac City recorded net revenue of VND3.69 trillion ($139.7 million), up 253% year-on-year.

Its net profit reached over VND1.25 trillion ($47.32 million), representing a 6.4-fold increase compared to the same period in 2024.

On the HoSE, KBC closed Monday at VND36,900 ($1.4) per share.