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Aurora IP rising as top choice in radar of foreign investors in textile and dyeing industries

Aurora IP rising as top choice in radar of foreign investors in textile and dyeing industries GlobeNewswire June 06, 2022

HANOI, Vietnam, June 06, 2022 (GLOBE NEWSWIRE) -- Vietnam is witnessing a strong recovery of foreign direct investment after Covid-19. FDI has been a key driver of Vietnam’s economic growth. Companies with FDI account for around 70% of the Southeast Asian country’s exports.

According to the Ministry of Planning and Investment, Vietnam received $4.42 billion in FDI in 1st quarter of 2022, up 7.8% from a year earlier. After the manufacturing and processing industry, real estate is currently the second largest FDI recipient in the past 10 years in Vietnam.

Aurora IP

JLL's industrial real estate market report for 1st quarter of 2022 shows that industrial land prices have maintained a strong growth momentum (up 8.5%) thanks to the new wave of FDI pouring into Vietnam after the restoration of flights and the opening of international borders. The average rental for industrial land is $120 a square meter.

Many big companies from Japan, Korea, US and Euro are looking for opportunities to enter the Vietnamese market carrying out in-depth research and analysis to select the right location.

Rising to become the bright spot of industrial park in Vietnam, Aurora IP, developed by local prominent real estate developer Cat Tuong Group, provides a total phase 1 area of 519.6 hectares, aims to build one of top leading textile-dyeing specialized industrial park with green – clean - sustainable development orientation.

Aurora IP is implementing land leveling for the whole area of 519.6 hectares, aiming to immediately hand-over clean land to the tenants upon the signing of the land leasing agreement to minimize any waiting time caused to the secondary investors. In 2021, approximately 160 hectares of commercial land in Aurora IP have been prepared as leveling is completed. Currently, there are a number of foreign investors from Japan, Korea, Hong Kong, Taiwan, investingin the Aurora IP.

Transport expenses account for 45-70% of supply chain costs, which means that warehouses located near major traffic hubs will be in huge demand. Aurora IP is located in a convenient position, within the planning of Ninh Co Economic Zone which covers 14,000 hectares with comprehensive infrastructure such as airport, seaport and power supply facilities. In terms of manpower, Aurora IP is supplied from 3 sources including local supply of 10,000 workers with high school graduates or basic training for the IP while 130,000 people aged 21-35 are available in surrounding districts.

“With the humane – sustainable development strategy and customer-centric orietation, we are confident that Aurora IP is the smart choice for manufacturers who are seeking a specialized, sustainable development industrial park for the textile and garment industry and other supporting industries in Vietnam. We stay focused on attracting tenants being large FDI enterprises from all over the world with privilege priority for dyeing textile utilizing high technology; simultaneously promoting joint venture/ cooperation with Vietnamese enterprises,” said Mr. Tran Quoc Viet - Chairman & CEO of Cat Tuong Group.

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