Nghi Son Industrial Park No. 5: A New Growth Driver For Thanh Hoa’s Industry

In the context of Vietnam continuing to accelerate industrialization and the restructuring of global supply chains, Thanh Hoa province is emerging as a new growth pole in the North Central region. With advantages in geographical location, synchronized infrastructure, and outstanding incentive policies, the Nghi Son Industrial Park No. 5 project is considered one of the strategic highlights, opening up an attractive “investment story” for both domestic and foreign investors.

Nghi Son Industrial Park No. 5 covers an area of approximately 160 hectares and is a key project of Thanh Hoa province, oriented to be developed as a specialized industrial park for the paper and packaging industry. This sector is experiencing strong growth demand driven by the boom in e-commerce, logistics, and consumer goods manufacturing.

With a total investment of around VND 1,497 billion, the project goes beyond merely providing infrastructure; it is positioned as a next-generation industrial park integrating production, logistics, and a supporting industrial ecosystem. Industrial Park No. 5 enjoys a particularly advantageous location within the Nghi Son Economic Zone, one of the coastal economic zones prioritized by the Government for long-term development.

The project offers connectivity across multiple modes of transport:
– Road: National Highway 1A, North–South Expressway;
– Rail: Hanoi – Ho Chi Minh City railway line;
– Waterway: Nghi Son deep-sea port capable of receiving large vessels (up to 100,000 tons);
– Air: Tho Xuan Airport with a designed capacity of 1.2 million passengers per year, oriented to become an international airport.
This connectivity enables enterprises within the industrial park to optimize logistics costs and enhance competitiveness, especially for export-oriented businesses.

Thanh Hoa is currently one of the localities with the fastest infrastructure investment growth in the country. Its socio-economic infrastructure system is continuously being upgraded, while the provincial master plan has been approved by the Prime Minister, creating a clear legal foundation for long-term development. In addition, the institutional framework is increasingly perfected, improving governance effectiveness and efficiency, and creating a transparent, stable, and attractive investment environment. According to Resolution No. 58-NQ/TW dated August 5, 2020 of the Politburo, Thanh Hoa is oriented to become:

“A prosperous, civilized, and modern province; one of the major centers of the North Central region and the country in energy industry, processing and manufacturing, high value-added agriculture, and logistics services.”

In this context, the Nghi Son Economic Zone – where Industrial Park No. 5 is located – benefits from numerous outstanding incentives: long-term corporate income tax incentives; land rent exemptions and reductions; and investment support from local authorities. These factors create a “double leverage” that enhances the project’s attractiveness to FDI inflows. Meanwhile, production costs in traditional industrial hubs such as Bac Ninh, Hai Phong, and Binh Duong are increasing, prompting a shift of FDI toward new localities. Thanh Hoa with its advantages in land availability, competitive costs, and strategic infrastructure is entering the “early growth” phase of the industrial cycle: rapidly developing infrastructure; increasing FDI inflows; and still reasonable land prices and costs.

The distinctive feature of Nghi Son Industrial Park No. 5 lies in its development orientation as a scalable platform, rather than a traditional industrial park: synchronized planning from the outset; development of a supporting ecosystem (logistics, services, and integrated production); and the ability to expand and integrate future projects.

Combined with the long-term development vision and execution capacity of Miza Group, the project not only delivers stable cash flow but also unlocks significant potential for asset value appreciation in the medium and long term. Upon completion of the industrial park, Miza Group will incorporate its factories in Nghi Son and Dong Anh into the overall ecosystem to optimize transportation and labor costs, as well as reduce input material costs.