Sembcorp Development gains approval for VSIP Hue

January 29, 2026 | 15:03

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On January 29, Sembcorp Development, through its Vietnam Singapore Industrial Park (VSIP) joint venture with Becamex IDC, has received approval to develop VSIP Hue, a 467-hectare industrial park in central Vietnam.

Sembcorp Development gains approval for VSIP Hue

VSIP Hue is located in Hue city, a centrally governed city serving as an emerging administrative, economic and cultural centre for central Vietnam.

Benefitting from proximity to Danang’s economic hub and direct access to major north-south transport corridors, the initiative offers manufacturers cost efficiency, skilled workforce access, and strong connectivity to domestic and global markets.

Lee Ark Boon, CEO of Sembcorp Development, said, "VSIP Hue strengthens our presence in Vietnam’s growth corridors and reflects our commitment to sustainable industrial solutions. Together with our recent venture in Khanh Hoa, this investment positions us to meet rising demand from global manufacturers seeking resilient and responsible supply chains.”

Including VSIP Hue, Sembcorp Development’s urban portfolio has grown to over 15,700 hectares across China, Indonesia and Vietnam, bringing it closer to its strategic goal of 18,000ha of gross development land by 2028.

In Vietnam, VSIP’s portfolio stands at 22 industrial parks spanning 12,900ha, including industrial land, townships, and services.

Sembcorp and Becamex expand VSIP portfolio

Sembcorp Development and its joint venture partner Becamex IDC are expanding their portfolio of Vietnam Singapore Industrial Park (VSIP) projects, taking the total to 20.

Sembcorp and Becamex expand VSIP network with new agreements

MoUs for prospective VSIPs in Hung Yen, Haiphong, Hai Duong, Binh Duong, and Thai Binh were signed in Hanoi on March 26.

Sembcorp Development secures licence for VSIP in Khanh Hoa

On December 31, Sembcorp Development (a wholly-owned subsidiary of Sembcorp Industries), in partnership with Becamex IDC Corporation, received an investment licence to develop a new Vietnam-Singapore Industrial Park (VSIP) in Khanh Hoa Province.

By Thanh Van

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