Industrial Parks: Tariff Fears on the Wane; Interest Likely to Rise

Industrial Parks: Tariff Fears on the Wane; Interest Likely to Rise

As tariff-related uncertainty eases, industrial park developers under our coverage have seen client interest rebound in 3Q25; we expect this to continue, Key IP catalysts ahead include continued government support through legal reforms, expanding infrastructure investment, and greater administrative efficiency. Planned provincial mergers may temporarily delay new project approvals, but the government’s supportive stance toward approvals should help to gradually alleviate supply constraints. We favor SIP, KBC, and IDC for their strong fundamentals and proven track record in serving FDI clients. These companies are well-positioned to capture opportunities from the ongoing expansion of Southern Vietnam’s infrastructure