Sembcorp secures investment licence for VSIP Ha Tinh

The investment certificate for the 190-hectare VSIP Ha Tinh (phase 1) was awarded to Vietnam Singapore Industrial Park and Township Development JSC (VSIP JSC), Sembcorp’s 46.5 per cent-owned joint venture company with Vietnam state-owned enterprise, Becamex IDC Corporation.

The in-principle approval to develop VSIP Quang Ngai II, an expansion from the first VSIP Quang Ngai that was established ten years ago, was also received in December.

Lee Ark Boon, CEO of Sembcorp Development said, “We are pleased to be entrusted with the development of more smart and sustainable industrial parks in Vietnam. The new investment licence for VSIP Ha Tinh adds to the investment licences received earlier this year for VSIP Lang Son and VSIP Nghe An II. With the additional land bank pipeline secured from these projects, we will continue to focus on driving Sembcorp Development’s growth in Vietnam.”

VSIP JSC will proceed to incorporate a wholly owned subsidiary in Vietnam to pursue development activities for VSIP Ha Tinh (phase 1). The incorporation is expected to be completed in the first quarter of 2024. T

Located in the northern central region, Ha Tinh province is a prospective industrial hub. Currently serving the east-west economic corridor to Laos and northeastern Thailand, Ha Tinh neighbours Nghe An province, which ranks among the top 10 in attracting the largest foreign investments in Vietnam.

Ha Tinh has the added advantage of Vung Ang Son Duong Port – one of the region’s largest natural deep-sea ports to potentially bridge connections from large transshipment ports such as Singapore and Hong Kong.

With the port serving provincial and regional activities, manufacturers at VSIP Ha Tinh can tap into the planned cargo consolidation point and international logistics hub, replacing the need for goods to be transported via the country's northern ports.

German group to invest $1.6 billion stainless steel plant in Ha Tinh VFT Industry UG plans to invest €1.5 billion ($1.57 billion) in building a stainless steel plant in the central province of Ha Tinh.

Singapore's Sembcorp spends $160 million to acquire majority stakes in Gelex's subsidiaries On November 10, Sembcorp Industries (Sembcorp) announced that its wholly-owned subsidiary, Sembcorp Solar Vietnam Pte Ltd, has reached an agreement to acquire majority interests ranging from 73 per cent to 100 per cent in various subsidiaries of Gelex Group Joint Stock Company (Gelex).

VSIP Quang Ngai contributing to foreign investment attraction After a decade of developing infrastructure towards international standards for a professional, green, and environmentally friendly industrial park, Vietnam-Singapore Industrial Park Quang Ngai is a bright spot in attracting foreign investment into the province.