ADAPTIVE INDUSTRIAL PARKS: A NEW MODEL FOR INVESTMENT ATTRACTION COMPETITION IN VIETNAM

Abstract

This study develops a new analytical framework to identify the key determinants of investment attraction and occupancy rates in industrial parks (IPs) in Vietnam. It addresses a gap in previous studies, which often examine separate factors and rarely place Vietnam in comparison with other emerging economies. The study applies an interdisciplinary approach using official data from the Ministry of Planning and Investment, the General Statistics Office, and the Vietnam Chamber of Commerce and Industry, together with international sources such as the World Bank and UNIDO. Statistical analysis, international comparison, and qualitative assessment are employed. The findings show that investment attraction is no longer driven only by infrastructure. It is increasingly shaped by industrial park governance, logistics services, and workforce adaptability. The interaction of these factors creates a synergy effect that helps some industrial parks perform well even without major natural advantages. The study proposes a four-pillar framework covering infrastructure–connectivity, institutions–governance, services–logistics, and workforce quality. It also introduces the concept of the adaptive industrial park and offers policy implications for competitive and sustainable industrial park development in Vietnam and other emerging economies.