Vietnam-Singapore Industrial Park (VSIP) has become an attractive destination for investors after 15 years of development. Despite common difficulties, VSIP last year reaped high results in FDI attraction. More importantly, under investors’ point of view, investors, this is an international standard industrial park and also is a destination that receives priority for investment from investors.

 Continuing to get attractive to investors

 Province-based VSIPs last year absorbed additional 25 new projects, including 23 FDI projects with a total registered capital of more than US$321.6mln and 2 domestic ones capitalized at VND58bln. There were also 45 FDI businesses registering to increase their capital by more than US$249.4mln.  

Gloves being produced at Showa Gloves Vietnam Co.Ltd. in the VSIP 1

 So far, province-based VSIPs have lured 365 valid investment projects, comprising of 350 FDI projects with a total registered capital of US$3.52bln and 15 domestic ones with a total registered capital of VND1.611trillion.

 Ly Hung, deputy head of the VSIPs Management Board said: “To achieve the above results, VSIP company has actively developed infrastructure at investors’ demand with an international professional marketing force. Support of authorities from central to local levels has also made great contributions to the investment attraction process of the VSIPs…”.

 Businesses’ satisfaction

 Investors, especially FDI ones have spoken highly of VSIPs’investment climate. And, well-built infrastructure has continued to be a decisive element of VSIPs in investment attraction.

 Also upon this, Finecs Vietnam Co.Ltd. decided to select VSIP 1 for start construction of its factory on Dec.2011. This factory has a total investment capital of US$7bln and is expected to be put into operation in mid-2012.

 Many businesses that are now operational in VSIPs have also decided to raise their investment capital for production expansion.

 Masaya Asano, CEO of Tokyo Rope Vietnam Co.Ltd., said that in 2012, the company will spend additional US$45mln on expanding its factory in the VSIP 2. This will bring the company’s total capital herein to nearly US$69mln and the company’s output will see a threefold increase compared to the current level with 1,000 tons of high-quality bare stranded cables.

 Similarly, Showa Gloves Vietnam Co.Ltd. has begun its activities of producing various gloves in the VSIP 1 with a total investment capital of US$35mln since 2005. With effective operation, Keizo Shato, company General Director has highly appreciated the investment climate of VSIP and said that the company will raise its investment capital to US$100mln.

 With the above-mentioned things, it is believed that VSIP is always an attractive destination for FDI investors.

Reported by Trong Minh-Translated by K.T