VSIP expands footprint in Vietnam with new IP in Danang

July 26, 2026 | 08:00

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The Singapore-based The Vietnam Singapore Industrial Park (VSIP) joint venture has got the green light from the Danang People’s Committee to invest in VSIP Danang Industrial Park in Dien Ban Bac ward.

Danang People’s Committee on July 25 signed a decision about the project development. It has an area of nearly 250 hectares and a total investment of VND3.73 trillion ($149.2 million).

VSIP expands footprint in Vietnam with new IP in Danang

The VSIP Danang Industrial Park project. Photo: https://baodautu.vn

The project will be carried out in phases: from the third quarter of 2026 to the third quarter of 2027, investment preparation procedures will be carried out; from the fourth quarter of 2026 to the second quarter of 2028, compensation, land clearance, and handover of land to the investor will be implemented; from the third quarter of 2027 to the fourth quarter of 2031, basic construction will take place, and the facility will be put into operation. Marketing and investment attraction activities are expected to begin from the third quarter of 2028.

After more than three decades of operation in Vietnam, VSIP has developed 26 industrial parks, attracting hundreds of thousands of workers and numerous domestic and foreign manufacturing and technology businesses. In late May, VSIP was granted licences for five more IPs in Haiphong, Nghe An, Hue, Ha Nam, and Ho Chi Minh City.

From July 2025, Danang merged with Quang Nam province, retaining the name Danang. The new area boasts many advantages in attracting investment in industry, services, seaports, urban development, and resort tourism.

In the first six months of this year, the city attracted nearly $358 million worth of foreign investment, a significant increase compared to the same period last year, mainly concentrated in the processing and manufacturing industries, IT, trade, and services.

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By Bich Thuy

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