Over VND 6,360 billion to finance infra-construction of Lang Son VSIP

On May 15, Deputy Prime Minister Le Minh Khai signed Decision No. 501/QD-TTg to approve the investment policy of the project of construction and infrastructure of VSIP Lang Son conducted by Vietnam - Singapore Urban and Industrial Park Development (VSIP Group) as the investor of the project.

The project is implemented in Huu Lung district of Lang Son province on a scale of nearly 600 hectares, of which, phase 1 construction uses about 200 hectares, phase 2 about 250 hectares and phase 3 nearly 150 hectares. The total investment capital of the project is more than VND 6,361 billion, equivalent to nearly USD 275 million, of which the investor contributed nearly VND 954.2 billion, equivalent to more than USD 41.2 million. The project is bound to operate for 50 years from May 15, 2023.

VSIP Group is a joint venture between Becamex IDC and a consortium of Singaporean investors led by Sembcorp Development Limited from Singapore. Formed in 1996, VSIP Group has developed a chain of 13 industrial parks, urban and service zones with a scale of over 10,362 hectares. VSIP is providing production infrastructure for nearly 900 customers from 30 countries and territories with a total investment of USD 18 billion, and creating jobs for nearly 300,000 domestic and foreign workers.

Reported by Ngoc Thanh – Translated by Vi Bao