A groundbreaking ceremony for the Vietnam-Singapore Industrial Park (VSIP) complex in the central province of Quang Ngai was organized on the morning of September 9. Attending the event were Prime Minister Nguyen Tan Dung and his Singaporean counterpart Lee Hsien Loong; former President Tran Duc Luong; Member of the Central Party Committee (CPC), Secretary of Binh Duong provincial Party Committee Mai The Trung together with leaders of ministries and sectors… 

 Member of the CPC, Secretary of Binh Duong provincial Party Committee Mai The Trung talking with former President Tran Duc Luong at the groundbreaking ceremony for the VSIP Quang Ngai complex

The VSIP Quang Ngai integrated township and industrial complex includes a 600-hectare industrial park located within the Dung Quat Economic Zone. Separately, a 520-hectare site zoned for commercial and residential purposes will be developed near downtown Quang Ngai City of the province. The first phase of the project will spend 160 hectares for industrial development and 100 hectares for urban and services development.

Lying in the Dung Quat Economic Zone, enterprises in the VSIP Quang Ngai complex will also enjoy preferential polices on tax tariff as stipulated. At the ceremony, VSIP Group handed over investment certificates to 3 enterprises with a total investment capital of US$115mln in the complex. It is expected that these enterprises will generate jobs for 11,000 laborers.

Sembcorp, VSIP Group and leaders of Quang Ngai province also announced the establishment of the Semcorp-VSIP clean water supply project. In the first phase, the project will supply clean water for 14,000 people in central Quang Ngai province’s districts of Son Tinh and Binh Son.

According to Mr.Kevin Teo, CEO of VSIP Group, the model of VSIP is seen as an important element to promote socio-economic development. Following its success in the southern region, the model has continued being developed in the northern region and it is now present in the central region. So far, there have been 5 VSIP projects invested in all three major economic regions of Vietnam, attracted nearly 490 investors from 25 countries and territories, with a total investment of approximately USD 6 billion, employing more than 140,000 workers across the country.

He added: “The cooperation between Vietnam and Singapore in the cause of national industrialization and modernization will be a driving force for socio-economic development. Our core values are to build up sustainable relations between partners and determinate to realize things committed. Through suitable orientations, we will bring the VSIP projects into reality and try to promote their development in a comprehensive way for the common prosperity of Vietnam…”.

Speaking at the meeting, Singapore’s Prime Minister Lee Hsien Loong said that VSIP is the firm symbol of cooperation between Singapore and Vietnam. He also added: “…Let’s take full advantage of this chance to tighten friendly relationship between Singapore and Vietnam. Singapore also expects to have closer cooperation with Vietnam in the following years, bringing prosperity to the two countries”.

Prime Minister Dung also underlined the significance of the construction of the project as it began on the occasion of the 40th anniversary of diplomatic ties between Vietnam and Singapore. He spoke highly of the effective activities of the VSIP model and saying that it is an vivid example for friendly relationship between Vietnam and Singapore.

The model of VSIP in Binh Duong is part of an economic cooperation between the governments of Vietnam and Singapore, initiated by former Prime Ministers Goh Chok Tong of Singapore and Vo Van Kiet of Vietnam in 1996. And it has quickly became the trade name and symbol of successful cooperation between Vietnam and Singapore and has contributed to Vietnam ’s socio-economic development over the last 17 years, he noted.

The development of the VSIP model in the northern and central regions will further promote investment attraction, creating jobs for laborers…Hence, this is worthy of being praised. The Prime Minister also expressed his belief that with the efforts of the two countries’ Governments and enterprises, VSIP 5 in Quang Ngai will continue to achieve successes and become a vivid example of the Vietnam-Singapore Strategic Partnership.

Reported by T.Minh-Translated by K.T