Vietnam Singapore Industrial Park Group (VSIP Group) was awarded the decision to develop an industrial park project in Vinh Thanh district, Can Tho city, on October 17.
The decision ceremony took place and was witnessed by the President of the Republic of Singapore Halimah Yacob and the President of the Socialist Republic of Vietnam Nguyen Xuan Phuc. This industrial park (IP) will be a positive prospect to promote the industrial development of Can Tho city.
|VSIP was awarded the decision to develop an IP project on October 17 |
The decision to approve the project investment policy was given to the representative of the investors, Kelvin Teo, CEO of Sembcorp Development. The event took place at the office of the Presidential Palace in Hanoi during the state visit of President Halimah Yacob to Vietnam on October 17.
At the ceremony, Teo said that Sembcorp, through VSIP, owns a portfolio of 11 large-scale development projects spanning eight cities and provinces in Vietnam.
|“We are delighted to always have the trust of the Vietnamese government, to support the country's economic development and create meaningful social impact. Utilising our expertise and recognized track record in delivering smart and sustainable city solutions, we aim to create new growth momentum for Vietnam,” said Kelvin Teo, CEO of Sembcorp Development and co-chairman of VSIP Group. |
Phase 1 of this IP, with an area of 293.7 hectares, will be developed, managed, and operated by VSIP Group.
|VSIP I in the southern province of Binh Duong |
This project is located in Can Tho, a Grade 1 city in Vietnam, the same level as Haiphong and Danang cities.
Can Tho is located in the Mekong Delta region of Vietnam, where the central government has announced a new master plan to approve socioeconomic development for the 2021-2030 period, a vision of making the city a commercial and service centre of the Mekong Delta region by 2030.
Can Tho has the potential to develop based on the existing aquaculture and agriculture sectors and, at the same time, increase its importance as a major food processing and distribution centre, with planned infrastructure investment developed according to the new master plan.
Also, on this occasion, President Halimah Yacob visited VSIP Bac Ninh I in the northern province of Bac Ninh. Started in 2007, the VSIP Bac Ninh I urban and industrial complex, covering an area of 635ha, has attracted 125 companies with $2.5 billion in investment capital and created 40,000 jobs.
VSIP is a joint venture between Sembcorp Group (Singapore) and Becamex IDC Corporation (Vietnam). Started in 1996 with VSIP I in Binh Duong in an area of 500ha, after 26 years of establishment and development, it has now developed into a leading urban-industrial development corporation in Vietnam with 11 projects in a total land area of more than 10,000ha, attracting $17 billion of investment and 880 tenants from 30 countries and territories, creating jobs for 295,000 people.
VSIP focuses on developing IPs and urban areas which are environmentally friendly, sustainable and composed of modern green services. The group's success in the construction and business of the IP infrastructure system in recent years has become a typical model of the country and an outstanding symbol of economic cooperation between Vietnam and Singapore.
VSIP Group has been named “Best Developer, Industrial and Warehouse, Overall in Vietnam” by the United Kingdom's Euromoney (2022). This is the seventh time VSIP Group has received the award.
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| ||Singapore's Deputy Prime Minister Heng Swee Keat visits VSIP |
Within the framework of an official visit to Vietnam, his excellency Heng Swee Keat, Deputy Prime Minister and Coordinating Minister of Economic Policies of the Republic of Singapore, and his delegation made a working visit to VSIP I - Binh Duong Industrial Park on September 14.