WHA Industrial Development PLC, a leading Southeast Asian industrial zone developer, has announced the signing of an MoU with the Nghi Son Economic Zone Authority at the Thanh Hoa Investment Conference 2026 on Saturday to explore the development of four industrial zones in the province.

The proposed projects cover a combined area of more than 1,000 hectares, with an estimated investment of approximately $390 million. Once implemented, WHA’s industrial development pipeline in Thanh Hoa is expected to reach around 1,840 hectares by 2030, positioning the province as one of WHA’s most important industrial development platforms in Vietnam.

Industrial development advancing

Development of WHA Smart Technology Industrial Zone – Thanh Hoa is already underway. The first phase of infrastructure is expected to be substantially completed by the end of 2026, enabling investors to begin operations within a modern, internationally designed industrial environment.

Even during the development phase, selected land plots are already ready for handover, allowing early investors to begin site preparation and factory construction immediately.

This early construction window provides investors with an opportunity to accelerate project timelines and secure strategic locations, while the industrial zone’s core infrastructure - including internal roads, power supply, water systems, and wastewater treatment facilities - is scheduled to be fully completed by December 2026.

To further support manufacturers seeking faster market entry, WHA is also developing the WHA Vietnam Innovation Park, a modern factory-for-rent platform integrating ready-built factories with hybrid warehouse space designed to accommodate flexible manufacturing and logistics operations.

The buildings are scheduled for handover in April 2027, offering a turnkey solution for companies looking to establish production quickly while maintaining scalability for future expansion.

Thanh Hoa emerging as a high-growth industrial destination

Thanh Hoa is rapidly emerging as one of Vietnam’s most dynamic industrial destinations. The province recorded 8.3% GRDP growth in 2025, exceeding the national average and reflecting strong expansion in its industrial and construction sectors, which now account for nearly 48% of provincial economic output.

The province benefits from a workforce of approximately 1.98 million people aged 160, providing one of the largest labor pools in Vietnam to support large-scale manufacturing investment.

Foreign direct investment momentum is also accelerating. In 2025 alone, Thanh Hoa attracted $828 million in FDI, bringing total accumulated FDI to $16.3 billion, ranking the province among Vietnam’s top 10 FDI destinations.

Exports from the province reached $7.2 billion in 2025, representing 18.8% year-on-year growth, reflecting deeper integration into global manufacturing supply chains.

Strategically located along National Highway 1A and the North-South Expressway, WHA’s industrial zone provides efficient logistics connectivity to Hanoi, Noi Bai International Airport, and the Hai Phong port cluster, placing investors at the center of northern Vietnam’s industrial network.

Strategic position along the Northern Economic Corridor

Located along the expanding Northern Economic Corridor, Thanh Hoa is increasingly recognized as a strategic gateway connecting Vietnam’s North Key Economic Region with the fast-growing central provinces.

With improving expressway infrastructure, deep-sea port access at Nghi Son, and strong industrial development momentum, the province offers a compelling platform for manufacturers seeking expansion beyond the increasingly saturated northern industrial hubs such as Hanoi, Bac Ninh, and Hai Phong.

This positioning allows Thanh Hoa to play a growing role in Vietnam’s evolving manufacturing landscape - supporting supply chain expansion while providing new space for large-scale industrial investment.

Strengthening WHA’s Vietnam growth strategy

The Thanh Hoa expansion forms part of WHA’s broader Vietnam growth strategy, focused on developing large-scale, internationally competitive industrial platforms in high-potential provinces.

WHA’s current Vietnam portfolio includes industrial developments in Nghe An province, alongside expanding projects in Thanh Hoa, forming an emerging industrial corridor supporting both northern and central Vietnam’s manufacturing growth.

To date, WHA has committed approximately $360 million in registered investment capital in Vietnam, spanning industrial zones, utilities, renewable energy, logistics properties, and ready-built facilities. The company aims to expand this platform to $1 billion in total investment, helping catalyze more than $5 billion in secondary manufacturing investment into Vietnam.

As global manufacturers continue to diversify supply chains, Thanh Hoa sits at the intersection of two powerful trends: global supply chain relocation and Vietnam’s transition toward higher-value, technology-driven manufacturing.

Through this partnership, WHA Vietnam is positioning Thanh Hoa as a next-generation smart industrial hub along the Northern Economic Corridor - supporting resilient global supply chains while shaping the future of sustainable industry in Vietnam.

WHA Industrial Development was pleased to welcome partners, investors, and industry representatives to the Open House Site Visit at WHA Smart Technology Industrial Zone 1 – Thanh Hoa, providing a firsthand look at the project during its pre-operation development phase. 

During the visit, participants explored the master planning concept, development progress, and available investment plots, while learning more about WHA’s vision of building a Smart Eco Industrial Zone designed to support advanced manufacturing and supporting industries.

Project highlights shared during the event:

• Selected plots already available for early investor construction

• Phase 1 infrastructure targeted for substantial completion by December 2026

• Development of WHA Vietnam Innovation Park, offering Ready Built Factory and hybrid solutions for faster market entry 

The event also created valuable opportunities for business networking and partnership discussions, with several potential collaborations expected to be further developed following the visit.

WHA remains committed to supporting global manufacturers expanding into Vietnam and contributing to the sustainable industrial growth of Thanh Hoa province and the broader Northern Economic Corridor.

WHA Industrial Development PLC is one of Southeast Asia’s leading industrial zone developers and a flagship company of WHA Group. In Vietnam, WHA develops and operates Smart Eco Industrial Zones designed to support sustainable and technology-driven manufacturing industries.

WHA’s Vietnam portfolio currently includes major industrial developments in Nghe An and Thanh Hoa, with a long-term vision to expand its industrial platform across key economic regions of the country. The company integrates international-standard infrastructure, smart utilities, environmental management systems, and flexible factory solutions to support investors throughout their entire investment lifecycle.

To date, WHA has committed approximately $360 million in registered investment capital in Vietnam, with plans to expand its investment platform to $1 billion, supporting the attraction of more than $5 billion in secondary manufacturing investment.

Through its Smart Eco Industrial Zone model, WHA Vietnam aims to create sustainable industrial ecosystems where industry, communities, and the environment grow together - while helping shape the future of global manufacturing in Vietnam.