Vingroup cuts industrial land rents to attract suppliers in Vietnam
Factory partners will receive a 50 per cent rent reduction initially, followed by a 30 per cent discount for five years.
Vingroup is seeking to broaden its Vietnam-based supplier network by cutting land rents for partners establishing factories at industrial parks operated by Vinhomes and VinFast. The group is offering a 50 per cent discount during the initial three years.
A further five years will carry a 30 per cent reduction. Thai Thi Thanh Hai outlined the incentives at a supplier development and localisation conference on October 16, 2026. Hai, who holds vice chairwoman roles at Vingroup and globally at VinFast, said partners would also gain access to the group’s deepwater ports and logistics facilities.
The search covers Vietnamese suppliers as well as foreign-invested businesses based in Vietnam. Vingroup’s requirements range from vehicle manufacturing, steel and robotics to construction, energy, infrastructure and services. Energy equipment sought includes substations, wind turbine towers and electrical conductors.
Suppliers could also serve VinFast’s operations in Indonesia and India. Weldcom Industry deputy general director Ho Thi Nga said her company’s assignments had expanded from electric motorbike production lines to automobile body line integration across Vietnam, India and Indonesia. Its contracts with VinFast were worth more than US$200 million during 2018–2025.
Nga said Weldcom was approaching Indian automakers including Tata and Mahindra after undertaking overseas work for VinFast.
Another supplier, Automech, is considering an Indian factory to make components for VinFast after surveying locations, chairman Luong Duc Thu said. The company moved from supplying metalworking machinery into component and assembly production. Its workforce has expanded fivefold since it started working with VinFast, reaching more than 1,000 employees.
