|Binh Duong is home to three VSIP ventures, with investment of more than $8.2 billion, employing 150,000 workers |
The first VSIP, a joint venture between Vietnam’s Becamex IDC Corporation and companies led by Singapore’s Sembcorp Development, was established in 1996 in the southern province of Binh Duong on the basis of cooperation and support between the Singaporean and Vietnamese governments.
Nowadays, Binh Duong is home to three VSIP ventures, which have attracted 600 tenants from 22 countries and territories with investment of more than $8.2 billion, while also employing 150,000 workers. In addition to Binh Duong, VSIP continues to expand its development in other localities with a view to accompany Vietnam’s economic growth. To date, VSIP has developed a total of nine projects across the country with a total land fund of more than 8,000 hectares for the purpose of industrial, residential, and services.
There are three projects in the south (Binh Duong), four projects in the north (Bac Ninh and Hai Duong provinces, and Haiphong city) and two in the central region (Quang Ngai and Nghe An provinces).
VSIP and its partners are also exploring development opportunities in different provinces like Quang Tri, Long An, Binh Dinh, and Binh Thuan – strongly shifting from traditional industrial zones to integrated townships and industrial parks (IPs).
Therefore, VSIP projects not only develop a favourable investment climate for local and foreign investors, but also features many amenities to create a sustainable working, living, learning, and playing environment.
With many more successful projects in the pipeline, VSIP has become the leading developer of integrated IPs and mixed-use areas in Vietnam. It has been named “Best Developer, Industrial and Warehouse, Overall in Vietnam” by the UK’s Euromoney magazine for consecutive years. Other corporate awards include the Saigon Times’ Top 40 award for “Best Performing Foreign Investor for Sustainable Development”; the Vietnam Economic Times’ Golden Dragon Award for the most distinguished foreign-invested enterprise in Vietnam; and the Vietnam Architect Association’s recognition of the VSIP’s symbolic project model for the 20th century.
In addition to constant expansion, VSIP also holds many community events. Every year, the company organises a charity event to raise money to support the poor, foster homes, and schools. It also sponsors and provides scholarships for poor students in the areas where VSIP operates.
The joint venture officially launched the VSIP Charity Days in Binh Duong in 2003. Since its inception, the programme has raised hundreds of thousands of US dollars. Not only for charitable purposes, the Charity Days is also an event that attracts thousands of workers who are working in the industrial park to gather and enjoy entertainment.
After 24 years of development, VSIP has supplied production infrastructure to 880 clients from more than 30 countries and territories, with the total investment of $15 billion and creating jobs for more than 250,000 workers.
Since then, VSIP has become a symbol of the close ties between Vietnam and Singapore. Moving forward, the company is committed to sustainable development to reaffirm its leading position in attracting investment and developing infrastructure for the localities where it operates.