Reporting a significant 146% increase in net profit, VSIP reached $43.84 million in the first half of this year and maintained its leading position in industrial parks in Vietnam to be named Vietnam's best industrial and logistics developer.
The earnings helped lift VSIP’s return on equity to 6.61% from 3.13% a year earlier, and owner’s equity stood at $663.7 million, up 16.6% year-on-year. Now VSIP has developed 18 industrial parks and townships, with a total land area of 12,500 hectares, and it has attracted some $15 billion in investment capital from tenants from 30 countries and territories so far.
The industrial market is expected to boom to meet growing demand in Vietnam, and VSIP continues to expand its presence in this growing market, with expansion into 13 provinces. It launched projects including VSIP Can Tho, VSIP Nghe An II and VSIP Lang Son in 2023, and broke ground on VSIP Thai Binh, VSIP II Quang Ngai and VSIP Ha Tinh developments in early 2024.
Sustainable development is one of the key areas of focus for VSIP. It includes greenery and wastewater treatment plans for a clean environment, and incorporates roof-top solar, battery storage solutions, for renewable energy to develop green industrial parks.