Construction of Vietnam-Singapore Industrial Parks in Thai Binh, Ha Tinh allowed
Deputy Prime Minister Tran Luu Quang recently signed a decision approving the investment policy for a project on building and operating the infrastructure of the Vietnam-Singapore Industrial Park (VSIP) in the northern province of Thai Binh.
Accordingly, the US$211.8 million project will be invested by the Vietnam Singapore Industrial Park and Township Development JSC, a joint venture between Singapore’s Sembcorp Development and Vietnam’s Becamex IDC.
It is located in An Tan and Thuy Truong communes, Thai Thuy district, on a total site of 333.4 ha.
The official also signed another decision allowing the company to build and operate infrastructure of Bac Thanh Ha VSIP in the first phase in Thach Ha district, the central province of Ha Tinh.
The project will sit in Thach Lien and Viet Tien communes on a site of 190.41 ha. Its total cost is more than VND1.55 trillion and operational period is 50 years starting from August 29.
The new IP will be home to facilities for electronic components, automatic equipment, high-tech components, food processing, consumer goods, transportation services, warehousing, construction materials, garments, leather shoes, automobile parts, and others.
Assigned by the Governments of Vietnam and Singapore to operate VSIP projects in Vietnam in 1996, the joint venture has to date expanded to 13 developments across the country.
On February 10, 2023, in Singapore, Sembcorp announced new collaborations with Becamex, witnessed by visiting Vietnamese Prime Minister Pham Minh Chinh, to develop five new VSIPs in Vietnam valued at approximately US$1 billion.
