An MoU was signed between Becamex IDC Industrial Development and Investment Corporation (Vietnam) and Sembcorp Development Ltd. (Singapore) on February 10 in Singapore to acknowledge the cooperation to develop five green, smart, and sustainable industrial parks (IPs) in Vietnam within the next three years with total investment capital of roughly $1 billion.
The ceremony took place within the framework of Prime Minister Pham Minh Chinh's visit to Singapore from February 8 to 11, honouring the 50th anniversary of the establishment of diplomatic relations and the 10th anniversary of the strategic partnership between the two countries.
The signing of this MoU once again demonstrates the wishes of the parties in establishing long-term cooperation and the further development of IP projects in Vietnam. The IPs continue to commit to meeting green, smart, and sustainable standards, using 4.0 technology for infrastructure development and management to allow businesses to operate more efficiently.
Also at this event, the approval of the investment policy for the VSIP Nghe An II IP project was also given to Nguyen Van Hung, chairman of the Board of Directors of Becamex IDC Corporation and co-chairman of VSIP Group and Kelvin Teo, CEO of Sembcorp Development and co-chairman of VSIP Group. This project is planned to cover 500 hectares of industrial land in Dien Chau district – belonging to the Southeast Economic Zone in the central province of Nghe An.
|VSIP Nghe An Industrial Park overview |
VSIP Nghe An II is the second VSIP IP in Nghe An after the first one that was built in 2015 in Hung Nguyen district.
With the total registered foreign direct investment capital of $744 million, as of December 2022, VSIP Nghe An IP has attracted 32 projects, reached an occupancy rate of 86.4 per cent, and is expected to attract more than 13,000 local workers.
VSIP is a joint venture between Becamex IDC Industrial Development and Investment Corporation (Vietnam) and a consortium of Singaporean investors led by Sembcorp Development Ltd.
Formed in 1996, the VSIP Group is the leading brand in the industrial real estate industry in Vietnam with a chain of 12 IPs and urban areas located over a total of more than 10,000ha across the country.
VSIP is providing production infrastructure for 882 tenants coming from 30 countries and territories. With a total investment of $18.4 billion, it creates jobs for 288,300 domestic and foreign workers.
| ||Sembcorp set to break ground on first ready-built warehouse in Central Vietnam |
Located in the Vietnam-Singapore Industrial Park in Quang Ngai province (VSIP Quang Ngai), Sembcorp Logistics Park is the first ready-built warehouse to provide modern warehousing spaces, promoting operational efficiency and supply chain resilience.
| ||Sembcorp pledges green products and investment in Vietnam |
Seeing so much promising land in Vietnam, Charles Chong, country head at Sembcorp Development Vietnam Co., Ltd. would like to develop more green warehouses across the country.
| ||TECHFEST VIETNAM 2022 promotes startup ecosystem |
A seminar series on technology was held in Binh Duong over the weekend, looking at events related to national innovation.
| ||VSIP III to be developed into green, smart industrial park |
Chairman of the People’s Committee of the southern province of Binh Duong Duong Vo Van Minh had a working session with CEO of Semncorp Development of Singapore Kelvin Teo on January 12 to discuss the firm’s investment in Vietnam – Singapore industrial park projects in the locality.