VSIP to develop fifth integrated industrial park in Vietnam

September 29, 2011 | 14:34

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Vietnam Singapore Industrial Park Joint Venture Company, the leading industrial park developer in Vietnam, will develop its first industrial park and township project in central Vietnam.

The developer (VSIP) yesterday signed a memorandum of understanding (MOU) with Quang Ngai People’s Committee to conduct a comprehensive feasibility study of a 1,020-hectare integrated township and industrial park in this province.

The MOU was signed by Quang Ngai People’s Committee chairman Cao Khoa with the co-chairmen of the VSIP Group, Low Sin Leng and Nguyen Van Hung.

The proposed development comprises a 500ha industrial park located within the Dung Quat Economic Zone, where government-supported special economic zone incentives are made available to manufacturers. Separately, under consideration are 520ha zoned for commercial and residential purposes near downtown Quang Ngai city.

According VSIP, Quang Ngai, located 100 kilometres from Danang, is ideal for labour intensive fast moving consumer goods and food and beverage manufacturing, serving both the northern and southern economic zones of Vietnam in addition to its central markets that stretch from Thua Thien - Hue to Phu Yen provinces.

It is the fifth project of VSIP in Vietnam and its first one in the central region. VSIP has already had four projects in Binh Duong province in the south and Bac Ninh province and Haiphong city in the north.

In all, the four integrated townships and industrial parks comprise 4,845ha and have attracted 440 customers with $4 billion in investment. More than 100,000 jobs have been created by operational tenants. Singaporean companies rank fourth amongst VSIP tenants after Japan, Vietnam and Taiwan.

By Nhu Ngoc

vir.com.vn

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