Recollection of late Singapore PM Lee Kuan Yew for Binh Duong

Late Singapore PM Lee Kuan Yew (center, first line) paid the first visit to VSIP.

Late Singapore PM Lee Kuan Yew contributed greatly to make up foundation of establishing and developing cooperation tie between Singapore and Vietnam. Based on the cooperation foundation, Vietnam-Singapore industrial park (VSIP) was formed up on ideal of late Vietnam Prime Minister Vo Van Kiet and former Singapore Prime Minister Goh Chok Tong as well as strong support of late Singapore Prime Minister Lee Kuan Yew. During the development process, VSIP has received special attention of late Singapore PM Lee Kuan Yew.

Cachet of friendship

VSIP has been established on friendship and economic cooperation between Vietnam and Singapore. With support from Governments of the two countries, a joint venture investment between Becamex IDC of Binh Duong and Sembcorp Development of Singapore has been formed up to create VSIP of today. Until now, VSIP has developed with 5 projects nationwide and the total land fund of more than 6,000ha including industrial, urban and service land.

The first established industrial park is the 500ha VSIP I in Thuan An town built in May 1996 with the witness of late Vietnam PM Vo Van Kiet and former Singapore PM Goh Chok Tong. This IP has attracted 240 projects invested by enterprises from 29 nations and territories with the total investment capital of US$2.7bil. In addition, VSIP I has placed more than 76,700 jobs for laborers, contributing to the provincial process of industrialization and modernization.

After the success, VSIP in 2006 marked an important event of cooperation relation between Vietnam and Singapore at the 10^th founding anniversary of VSIP by presence of Vietnamese PM Nguyen Tan Dung and Singaporean PM Lee Hsien Loong. At the anniversary, VSIP officially announced project VSIP II with the area of 345ha located at Binh Duong industry-service-urban complex. Until now, VSIP II has attracted 135 projects from 22 nations and territories with the total investment capital of US$1.5bil, placing jobs for nearly 42,000 people. In 2008, VSIP expanded more 1,700 ha for VSIP II. VSIP II has thus far absorbed about 80 projects, capitalized at more than US$1bil.

With success of VSIP in the Southern region, VSIP continues to expand to the North. On Dec. 11, 2007, VSIP officially started VSIP Bac Ninh project with the area of about 700ha. Up to now, VSIP Bac Ninh has attracted 54 investors inside and outside of the country with the total investment capital of over US$1bil with investment of famous investors such as Pepsi Co., Microsoft and more. After VSIP Bac Ninh, VSIP Hai Phong on the area of 1,600ha was built in Jan. 2010. At present, VSIP Hai Phong has had about 24 enterprises with the total investment capital of US$850mil.

In Sept. 2013, VSIP Quang Ngai became the fifth project of VSIP in Vietnam with the zoned area of 1,200ha of industrial land and 504ha urban land. After over one year of building, VSIP Quang Ngai completed the intital period’s infrastructure facility. Until now, 10 investors from 6 nations have pledged to develop their projects worth nearly US$200mil in this industrial park.

Care of late Singapore PM Lee Kuan Yew

Right from initial days of establishment, VSIP received profound care of leaders of Vietnam and Singapore, especially late Singapore PM Lee Kuan Yew. Before VSIP was built in 1995, late Singapore PM Lee Kuan Yew paid a survey to the site. At that time, he encouraged Binh Duong province’s leaders to believe in strong development of the project in the future.

During 19 years of operation, VSIP received care and visits of late Singapore PM Lee Kuan Yew for three times.

10 years later after the first visit on Jan. 26, 1997, VSIP honored to welcome the second visit of late Singapore PM Lee Kuan Yew on Jan. 20, 2007.

On April 14, 2009 late Singapore PM Lee Kuan Yew paid the third visit to VSIP II in the invitation of PM Nguyen Tan Dung.

Tran Thanh Liem, vice chairman of the provincial People’s Committee, head of VSIP management board said that investment of VSIP as well as other projects of Singapore in Binh Duong includes special care of Vietnamese and Singaporean governments. This is a good result of friendship, cooperation and investment for sustainable development of the two governments.

Reported by T.Minh – Translated by A.C