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  • News
  • News in Vietnam
  • 23 March 2022

1000 ha VSIP III industrial park with total investment of nearly 6,500 billion VND commenced in Binh Duong

Vietnam – Singapore Industrial Park III project has an area of 1,000 hectares, with a total investment of 6,407 billion VND in Hoi Nghia ward, Tan Uyen town and Tan Lap commune, Bac Tan Uyen district, Binh Duong province.

As of March 19 morning, VSIP Group held a groundbreaking ceremony of VSIP Industrial Park in Tan Uyen town. This is the third project under VSIP brand in Binh Duong and the 11th project of VSIP Group in Vietnam.

Vietnam – Singapore Industrial Park III project has an area of ​​1,000 hectares, with a total investment of 6,407 billion VND in Hoi Nghia ward, Tan Uyen town and Tan Lap commune, Bac Tan Uyen district, Binh Duong province that is an important and meaningful activity of Party Committee, Government and the residents wherein; and plays a practical role in response to the great policy of the Party and Government in performing the dual goals of responding to epidemic and developing the economy.

VSIP is a joint venture between Becamex IDC Corporation (Vietnam) and an alliance of Singaporean investors led by Sembcorp Development. The 1,000-hectare VSIP III – Binh Duong project marks a new milestone for VSIP Joint Venture as it implements a strategic transformation towards more sustainable development. From perspective of a smart and sustainable industrial park model, VSIP III – Binh Duong is designed to integrate smart technology in activities in the industrial park, from the use of energy, water, waste, to traffic management and security.

The 100-hectare phase 1 of the project has also qualified for the Singapore Construction Authority’s (BCA) Green Mark for industrial parks, hailing this project as one of the greenest and most sustainable workplaces in Vietnam.

Up to now, there have been 31 domestic and foreign corporations and companies expressed interest in learning the possibility of production development at VSIP III – Binh Duong, equivalent to 176 hectares of industrial land and USD1.8 billion in expected capital investment.

VSIP will also introduce advocacy programs to Binh Duong province for improving labor productivity, sustainable growth, and socio-economic development. Specifically, Sembcorp, a Singapore shareholder of VSIP, has worked with Eastern International University (EIU) to establish the EIU-Sembcorp – Sustainable Solutions Center to enhance students’ professional qualification and transfer knowledge to lecturers on solar energy development. The second program aims to accelerate the adoption of 4.0 technology in Vietnam’s manufacturing industry. Becamex and Sembcorp, via VSIP, intend to invite Singapore International Polytechnic University and Singapore-based Smart i4.0 Transformation Alliance (SiTA) to train EIU students ready to access future developments in the field of Industry 4.0. VSIP will also help small and medium-sized manufacturing enterprises apply relevant industry 4.0 solutions to improve operational efficiency. Therefrom, the effectiveness of these programs will also contribute to the sustainable, long-term smart development of industrial park.

It is known that with this groundbreaking of VSIP III – Binh Duong, VSIP Group is currently engaged in the development of 11 industrial, urban and service zones across Vietnam. From the first VSIP in Thuan An city, the total land fund of VSIP Group has increased to nearly 10,000 hectares including Binh Duong with prime location of Southern Economic Corridor; the North includes Bac Ninh Province, Hai Phong City, Hai Duong Province, and the Central Region includes Quang Ngai, Nghe An, Binh Dinh and Quang Tri Provinces. VSIP is providing production infrastructure for 880 customers from 30 countries and territories, with a total investment of 17 billion USD and creating jobs for more than 295,000 domestic and foreign workers.

Binh Duong has been one of the leading localities in the country in industrial production, attracting foreign direct investment (FDI). This locality is focusing on implementing the right roadmap to build a smart city with key development orientations such as attracting domestic and foreign investment in high-tech, high-value-added, less labor-intensive, dynamic, and environmentally friendly industries; adapting modern and advanced technologies, improving the quality of enterprises’ products to increase their competitiveness in international economic integration; focusing on investment attraction to planned industrial zones and clusters; boosting the implementation and investment in building infrastructure of industrial zones and clusters according to planning; researching on forming industrial zones – science and technology urban centers; continuously converting functions and relocating enterprises to industrial zones and clusters in the province.

(Source: cafef)

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