Vietnam – Singapore Industrial Park impresses Vietnam

Morning Sep 14, Binh Duong Provincial People’s Committee in collaboration with Vietnam - Singapore Industrial Park (VSIP) JV Company solemnly celebrated the 20th anniversary of VSIP’s foundation at provincial Convention and Exhibition Center.

Attending the ceremony, as for Vietnam, were Mr. Nguyen Minh Triet, former Politburo member, former President; Mr. Truong Hoa Binh, member of the Politburo, Permanent Deputy Prime Minister; Mr. Vo Van Thuong, member of the Politburo, Secretary of the Central Party Committee, Head of the Central Party Propaganda Training Committee… As for Singapore, were Mr. Teo Chee Hean, Deputy Prime Minister, Minister of National Security Coordination; 2 Parliamentarian Mr. Liang Eng Hwa and Cedric Foo; Ms. Catherine Wong, Ambassador of Republic of Singapore in Vietnam; Ms. Leow Siu Liu, Singapore Consul General in Ho Chi Minh City.

An overview of the 20^th VSIP establishment

As for Binh Duong Province, Mr. Tran Van Nam, member of the Party Central Committee, provincial Party Secretary, Head of provincial NA’s delegation; Mr. Pham Van Canh, Deputy Secretary of provincial Party Standing Committee, Chairman of provincial People’s Council; Mr. Tran Thanh Liem, Deputy Secretary of Party Committee, Chairman of provincial People’s Committee; and leaders of Binh Duong Province, other provinces, cities, and leader generations of Song Be and Binh Duong Province attended the anniversary. As for VSIP, there were Mr. Nguyen Van Hung, member of provincial Party Standing Committee, Board of Directors’ Chairman cum CEO of Becamex IDC, Co-Chairman of VSIP Group’s Board of Directors; Mr. Tang Kin Fei, Chairman cum CEO of Sembcorp Industries (Singapore); Mr. Kelvin Teo, CEO of Sembcorp Development, Co-Chairman of VSIP Group’s Board of Directors; Mr. Nguyen Phu Thinh, member of VSIP Group’s Board of Directors, CEO of VSIP JV Company.

Tightening friendship, cooperation relationship

Speaking at the ceremony, Deputy Prime Minister Truong Hoa Binh said, Vietnam Government and people were so pleased to eye the development of Vietnam and Singapore cooperation relationship, in which the high peak was the strategic partnership establishment on Sep 11^th 2013. Singaporean Deputy Prime Minister Teo Chee Hean stressed that the bilateral relations between the two countries had made progress, thanks to visits of the two countries’ leaders and extensive cooperation in many fields, such as security, defense, trade, economic and human resource. He affirmed, seven VSIP projects indicated the close economic cooperation between the two countries and the success of the first VSIP project had paved the way for the expansion of VSIP network.

Permanent Deputy Prime Minister Truong Hoa Binh (right) welcomed Singaporean Deputy Prime Minister Teo Chee Hean at the ceremony

At the ceremony, Mr. Tran Thanh Liem, Deputy Secretary of Party Committee, Chairman of provincial People’s Committee, stressed that the foundation of VSIP in 1996 had an important meaning, marked a new growth stage and innovative steps in implementing reform and development policies of Vietnamese Government; and strengthen the cooperation tie, friendship between the two governments.

Stimulating economic growth

After more than 20 years, VSIP has 7 projects throughout Vietnam. VSIP projects has absorbed a total investment of more than $9 billion and about 600 companies, created jobs for more than 170,000 workers.

According to Deputy Prime Minister Teo Chee Hean, he was so glad to know that Singapore and VSIP had played an important role in stimulating national economic growth in Vietnam. In the near future, the signed MoU between VSIP and Binh Duong provincial leaders and Bac Ninh would encourage VSIP to explore new opportunities in these localities. Deputy Prime Minister Truong Hoa Binh asserted, Singapore is now the second largest foreign investors in Vietnam with a capital of nearly $38 billion and more than 1,600 projects. Investment projects of Singapore have operated efficiently, spread out in many provinces and most economic sectors of Vietnam.

The Vietnamese Government appreciated the contribution of Singaporean businesses to Vietnamese economy, and pledged to stabilize the investment environment, enhance the reform of administrative procedures, better the law system, continue to create favorable conditions for foreign businesses in general and Singaporean businesses in particular to invest in Vietnam.

At the ceremony, Mr. Tran Thanh Liem praised and recognized the achievements and significant contributions of the VSIP JV Company to the socio-economic development cause of Binh Duong in particular and Vietnam in general; and emphasized, VSIP had been a large motivation and an important foundation for Binh Duong to attract domestic and foreign investment resources and become one province with a powerful breakthrough, important achievements in the industrialization and modernization process.

 A corner of Vietnam - Singapore Industrial Park I (Thuan An Town). 

Also at the ceremony, the signing ceremony of a Memorandum of Understanding to deploy 2 expanded projects in Binh Duong and Bac Ninh in the near future. The two projects cover an area of ​​1,500 hectares. On this occasion, VSIP introduced a new logo embodying the cooperation spirit and inspiration of partners.

Reported by Phuong Le – Translated by Ngoc Huynh