Sembcorp and Becamex expand VSIP network with new agreements

Sembcorp Development, a wholly owned subsidiary of Sembcorp Industries, and its joint venture partner Becamex IDC, have committed to exploring the development of four Vietnam Singapore Industrial Parks (VSIPs).

Four MoUs were signed to expand the VSIP network in Vietnam

The signing ceremony was followed by a groundbreaking ceremony for the new 333-hectare VSIP Thai Binh. Strategically located in northern Vietnam’s growing industrial ecosystem, VSIP Thai Binh is poised to become a key satellite industrial park, supporting a broad network of manufacturers and suppliers across high-value sectors such as electronic components, precision engineering, and renewable energy.

Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong witnessed these developments online in Hanoi. Their support underscores the strategic role VSIPs play in Vietnam and Singapore’s bilateral and economic cooperation.

Established in 1996, VSIP was mooted by the Vietnam and Singapore governments for joint economic cooperation. The VSIPs are executed through a joint venture between Becamex IDC and Sembcorp Development.

VSIP Group is now involved in the developments of 20 integrated townships and IPs across Vietnam covering 12,000ha, including industrial land, townships, and services. VSIPs host 1,000 customers from 30 countries and territories, with a total investment of more than $23.4 billion.

Prime ministers Lawrence Wong and Pham Minh Chinh at the groundbreaking ceremony for VSIP Thai Binh

Sembcorp breaks ground for ready-built facility in Haiphong Sembcorp Infra Services, a subsidiary of Sembcorp Development, held a groundbreaking for Sembcorp Logistics Park Dinh Vu in the northern port city of Haiphong on March 6.

VSIP to build $88.2 million industrial park in Nam Dinh Vietnam-Singapore Industrial Park's subsidiary got the nod to develop a 180-hectare industrial park in Nam Dinh, with an investment capital of more than VND2.25 trillion ($88.2 million).

Sembcorp begins construction on SIS Dinh Vu logistics centre On March 6, at DEEP C Haiphong 1 Industrial Zone, Sembcorp Dinh Vu Infra Services Co., Ltd. officially broke ground on the Sembcorp Logistics Park Dinh Vu (SIS Dinh Vu) warehouse and ready-built factory for lease initiative.