Vietnam-Singapore industrial parks eye complex model

Tran Thanh Liem (left), vice chairman of the provincial People’s Committee visits Molenbergnatie Vietnam Co.Ltd. in VSIP II-A in Tan Uyen town.

It is the statement of Mr. Kelvin Teo, chairman of the Board of Directors of VSIP Company. According to Mr. Kelvin Teo, VSIP will in the coming time focus on developing human resources and service and urban areas for sustainable development.

Well preparation of infrastructure facilities

VSIP management board said that Vietnam-Singapore industrial parks in the past attracted US$623mil in FDI capital, an 86.3% increase from 2013, reaching 207.5% from the set plan of 2014 and accounting for 40% of 2014’s total FDI capital invested in the province. Of these, there were 21 new projects, capitalized at US$93mil and 35 ones adding capital worth US$530mil. Besides, VSIP management board granted one investment certificate for a domestic enterprise with the investment capital of VND60bil.

The result of investment attraction lifted the number of projects at VSIP up to 414 including 393 FDI projects, capitalized at nearly US$5.43bil and 21 domestic ones worth VND3,894bil. Until now, 360 enterprises at VSIP have contributed to create US$5bil in revenue and paid US$65mil to the State budget.

Investors highly appreciated VSIP in Binh Duong province and said that they give top priorities for VSIP to select investment locations. Mr.Pittas Konstantinos, director of Medochemie said that VSIP in Binh Duong had well infrastructure facilities along with simple and rapid administration procedures, facilitating investors’ business and production. Therefore, his company chooses VSIP to launch a pharmaceutical plant worth over US$16mil.

Ly Hung, vice head of VSIP management board said that increase on investment capital in 2014 was thanks to preferential policies for new and extensive projects in industrial parks. Therefore, some big projects such as Wonderful Saigon Electrics Co.Ltd., Kimberly – Clark Vietnam Co.Ltd., Esquel Garment Manufacturing Co.Ltd and more with plans on expansion decided to invest in the past year.

Besides, VSIPs in Binh Duong are always well infrastructure facilities and services to meet demand on extension of investors. More importantly, transparent and modern administration makes up advantages for enterprises.

Developing human resources and urban service

Mr.Kelvin Teo said that VSIP is a symbol of friendship cooperation between Vietnam and Singapore. After nearly 20 years of development, success of VSIPs in Binh Duong helps VSIP company expand its scale across provinces and cities.

According to Mr.Kelvin Teo, success of infrastructure building and investment attraction of VSIP company is only a “hard” part, so the company will focus on developing complex models with fields of industry, service and urban areas.

Reported by T.MINH – Translated by A.C