Vietnam – Singapore industrial parks contribute to promoting economic development, environmental protection

Update: 15-09-2015 | 19:34:40

After nearly 20 years of establishment and development, Vietnam - Singapore industrial parks (VSIP) have contributed to the socio-economic development, environmental protection of Binh Duong province particularly and Vietnam generally in order to become a symbol of the friendship cooperation between Vietnam and Singapore.

Lifting the economic development

VSIP was established since 1996 on an area of 500 ha. This was the only Vietnamese industrial park that was established under a signing between Vietnam and Singapore to realize the initiative of the late Vietnamese Prime Minister Vo Van Kiet and former Singapore Prime Minister Goh Chok Tong to build up a modern industrial park, promote Vietnamese economy, enhance Vietnamese position in the global map. VSIP was formed by a joint venture between Becamex IDC (Binh Duong) and experienced foreign partners of SembCorp Industries Corporation (Singapore).

VSIPs are the highlight of economic cooperation between Vietnam and Singapore. Image: A corner of VSIP II.

With the aim to develop an international environment business with reliable infrastructure and one-stop services, VSIP I quickly led the nation in foreign investment attraction in the 1997-2006. Then, VSIP II and IIA were established in 2006-2008 on an area of 2,045 ha, bringing a modern technical infrastructure, and a comprehensive connection between industrial and commercial – service and urban field.

After nearly 20 years, VSIP has made important contributions to local socio-economic development, the successful implementation of one-stop system, administrative procedure reform; modern infrastructure meeting international standards; attractive and open investment environment; personnel attracting, training meeting investor’s requirements… Therefore, VSIP has been an attractive destination to investors around the world.

VSIPs in Binh Duong has now 21 domestic investment projects with registered capital of VND 3834 billion; 426 foreign investment projects including many Japanese, Korean, Singapore, US big corporations investing in high-tech and high competitive industries, like: electronic components, consuming products, precise engineering… Currently, VSIPs have strengthened marketing activities to potential domestic companies in fields of electronics, pharmaceuticals, food, packaging...

Mr. Tran Van Nam, Chairman of provincial People’s Committee said, among major investors in Binh Duong, although Singapore was ranked at the 4^th, the relationship between Vietnam – Singapore was very deep. In recent years, the comprehensive cooperation between Binh Duong and Singapore has been very good with the great success of VSIPs. Therefore, Binh Duong always wished to bring this good relationship to a new height.

A green industrial park model

According to Mr. Nguyen Phu Thinh, CEO of VSIP Joint Venture Company, the motto of VSIP is not to attract investment at any cost. VSIPs set up many requirements for enterprises wishing to invest in IPs to keep IPs being always green, clean and beautiful. Hence, right from the stage of inviting investments, VSIP arranges industrial sectors in order of priority, then reject projects causing environmental pollution and discharging solid waste or substances that are difficult to handle. Besides, as constructing factories in IPs, VSIP requires investors to comply strictly with regulations on environmental protection. Enterprises must have wastewater treating system before discharging waste into the system of the IPs. VSIPs also have their own modern waste treating systems that are regular monitored and maintained.

Currently, wastewater treatment capacity of VSIP is 24.000m3 / day, handling 100% wastewater of IP. In addition, wastewater treating plant of VSIP II completed the 1^st stage construction of concentrated wastewater treating station with a capacity of 6.000m3 / day and an investment of $1 million.

In addition, implementing the green industrial park model, currently, 30% of VSIP area is covered by green trees. Public transport system within VSIP was designed to reduce traffic congestion, environmental pollution.

After nearly 20 years of development, VSIP has made many achievements in environmental protection, and has been a typical green model of Binh Duong in particular and Vietnam in general.

VSIP industrial, urban and service complex in Nghe An is going to commence

On September 16^th, the groundbreaking ceremony of VSIP industrial, urban and service complex with a total area of 750 hectares invested by Vietnam – Singapore Joint Venture Ltd. Company will take place in Hung Nguyen district, Nghe An province.

VSIP Nghe An project has been divided into several stages. The 1^st stage has an area of 198 hectares of industrial land and 81 hectares of commercial and residential land, total investment of about $15.2 million including industries of textiles, production, processing and distribution of agricultural products, consuming products. VSIP Nghe An is the 7^th project of VSIP in Vietnam after projects in Binh Duong, Bac Ninh, Hai Phong, Hai Duong and Quang Ngai. Total accumulated developed area is more than 6,000 hectares.

Reported by P.An – Translated by Ngoc Huynh

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Vietnam – Singapore industrial parks contribute to promoting economic development, environmental protection

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