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The project will prioritize attracting investment in high-tech and clean industries, in line with Hanoi's new development orientation and the development direction of the industrial sectors in the Red River Delta.

Industrial parks are crucial for attracting domestic and foreign investment projects, particularly leading global corporations.

Hanoi’s government has prepared and approved subdivision plans for the US$257-million industrial park in line with the law.

There are currently 418 industrial parks in Vietnam, covering an area of about 89.2 thousand hectares, of which 298 are in operation and 120 are under construction.

The project is worth nearly US$257 million and covers an area of 300 hectares in the northern district of Hanoi.

Hanoi's industrial and commercial sector has been focusing on green growth - a trend that catches investors' attention.

At present, the tally of Vietnam-Singapore Industrial Parks (VSIP) has reached 14, spanning 10 provinces and cities, boasting a combined investment of US$18.7 billion and generating employment for more than 300,000 individuals.

Hanoi has accumulated about US$69.844 billion in foreign direct investment, ranking second in the country.

The planning process should be completed by 2025.

Hanoi's industrial parks is home to more than 700 projects with registered capital of $6.3 billion.

Hanoi continues to promote the attraction of foreign investment capital for socio-economic development.

The construction of eco-industrial parks is considered a solution for Vietnam to reduce waste and promote sustainable growth

Industrial parks in Hanoi are home to 707 operational projects with a combined investment capital of $7 billion, half of which came from foreign investors.

The reopening of the borders, the government's active support for investors, and the resilience of domestic firms would open up a promising future for the industrial property market in 2022 and subsequent years.

The VSIP III covers an area of 1,000 hectares, will be a successful example in Vietnam-Singapore cooperation, and evidence that Vietnam continues to be an attractive destination for investors

The industrial park will prioritize both high-tech tenants and labor-intensive industries such as apparel and footwear.