Hanoi to invest US$27 million in industrial clusters

The Hanoi Times — Hanoi will invest VND696 billion (US$27.2 million) to build three industrial clusters in Thuong Tin and Thach That districts, according to a recent decision by the municipal People's Committee.

The projects aim to attract both domestic and foreign direct investment in Hanoi's industrial zones, ensuring sustainable production activities.

In Thuong Tin District, the Hien Giang Industrial Cluster will see an investment of over VND241billion ($9.4 million) in its first phase, covering 9.62 hectares and focusing on wood processing and sculpture. Another cluster in Hoa Binh Commune, with an investment of VND206 billion ($8.1 million), will cover seven hectares and host mainly horn comb production, woodworking, and textiles.

In Thach That District, the Huong Ngai Industrial Cluster will extend over 10 hectares with an estimated investment of VND250 billion ($9.8 million), targeting wood processing and high-end handicrafts.

These industrial clusters will adopt a green model to minimize environmental impact, with modern infrastructure including roads, drainage, and a centralized wastewater treatment plant.

The project is expected to be completed within 24 months from the date of approval, with an operating period of 50 years. Companies investing in the sites will benefit from incentives under the Investment Law and Decree No. 32/2024/ND-CP.

In 2025, Hanoi plans to kick-start the construction of technical infrastructure for 43 industrial clusters and complete the infrastructure for 30 clusters.

The city aims to establish and expand another 15 to 20 industrial clusters while upgrading existing facilities.