At the ceremony to mark the 10th anniversary of the Vietnam-Singapore Industrial Park (VSIP) in Binh Duong in 2006, Prime Minister Nguyen Tan Dung and his Singaporean counterpart Lee Hsien Loong gave the VSIP Joint Venture Company a suggestion on expanding VSIP projects to other regions of Vietnam at investors’ demand. This has come true when the VSIP Bac Ninh and Hai Phong projects have been formed up and put into operation. And construction of the VSIP Quang Ngai project officially starts today, September 13…

Expansion to northern region

The success of VSIPs in Binh Duong has created a premise for the development of the model in the northern and central regions, contributing to promoting Vietnam’s economy.

 Lying in the northern key economic zone and adjoining Hanoi, VSIP Bac Ninh has a total area of 700 hectares, including 500 hectares for developing an advanced industrial complex and 200 hectares for building a commercial and residential zone with trade centers, supermarkets, schools, offices, sporting facilities, housing and other utilities. VSIP Bac Ninh has so far absorbed 46 projects with total investment capital of more than US$900mln. There are now 17 projects in operation, including the first factory of the world’s largest mobile phone producer Nokia in the Southeast Asia region with total investment capital of US$280mln.

Following the birth of VSIP Bac Ninh, VSIP Hai Phong was built in 2010 with 1,600 hectares in total, including 500 hectares for industrial development and 1,100 hectares for urban development. VSIP Hai Phong has so far lured 17 projects from EU, Japan, Singapore, Malaysia, Hongkong…with total investment capital of US$800mln. Among them, many have came from the world’s famous corporations, namely Fuji, Xerox, Nipro Pharar, Zeon…The project of the Japanese Kyocera Mita Corporation, the world’s top producer in printing-machines is most notably with total investment capital of nearly US$200mln.

Promoting central region’s development

Construction of the VSIP services and industrial complex in the central province of Quang Ngai ( or called VSIP Quang Ngai) officially starts today, September 13.

The fifth project of VSIP in Vietnam and its first project in the central is VSIP Quang Ngai, which has just granted the investment certificate in April 2012, witnessed by President Truong Tan Sang and his Singaporean counterpart, Tony Tan Keng Yam (photo).

VSIP Quang Ngai comprises of a 600-hectare industrial park located within the Dung Quat Special Economic Zone. Separately, a 520-hectare site zoned for commercial and residential purposes will be developed near downtown Quang Ngai city. The phase 1 of the project will be implemented from now till the end of 2015 with 458 hectares, including 168 hectares for the phase A1.

The project is located within the Dung Quat Economic Zone, near downtown Quang Ngai city and about 120km south from Da Nang city. With an abundant workforce, VSIP Quang Ngai will be an ideal destination for companies with consumption markets towards nation’s southern, northern and central regions. Moreover, the VSIP is able to get access to consumption markets in Laos, Thailand and Cambodia. It is also suitable to industries: food-beverage, installation of electronic components, fast moving consumer goods…

Lying in the central key economic zone, Quang Ngai has a favorable geography with many conditions for traffic infrastructure developed in a synchronous, according to Pham Nhu So, Vice-Chairman of Quang Ngai provincial People’s Committee cum Head of the Dung Quat Economic Zone Management Board. Noticeably, located within the Dung Quat Economic Zone, enterprises in the VSIP Quang Ngai will also enjoy preferential policies on tax tariff as stipulated, opening new opportunities for them.

With the latest project in Quang Ngai, VSIP has totally developed five industrial parks and township complexes in Vietnam with the combined area of more than 6,000 hectares; attracted nearly 490 investors from 25 countries and territories, with a total investment of approximately US$ 6 bln, employing more than 140,000 workers across the country. More importantly, in addition to infrastructure development for investment attraction, VSIP now aims at a sustainable development strategy that is to promote industrial-urban and services development in a synchronous way through the complex model, thereby building up modern industrial parks adjacent to civilized urban areas, contributing to promoting Vietnam’s socio-economic development.

Reported by Ve Giang-Translated by K.T