VSIP Nghe An: To create breakthroughs for Nghe An to develop

Morning September 16^th, in Hung Nguyen district, Nghe An province, Vietnam – Singapore Industrial Park Joint Venture Limited Company (VSIP Co.) held a solemn groundbreaking ceremony of VSIP industrial, urban and service complex (VSIP Nghe An). Prime Minister Nguyen Tan Dung, Mr Lim Hng Kiang, Minister of Trade and Industry of Singapore, attended the ceremony. Mr. Mai The Trung, Member of Party Central Committee, Secretary of Binh Duong province Party Committee, Head of provincial NA’s delegation; Mr. Tran Van Nam, Deputy Secretary of Binh Duong province Party Committee; Chairman of provincial People’s Committee; Mr. Ho Duc Phuoc, Secretary of Nghe An province Party Committee; Mr. Nguyen Xuan Duong, Deputy Secretary of Nghe An province Party Committee, Chairman of provincial People’s Committee, also took part in the ceremony.

To contribute to local industrial boom

VSIP Nghe An project was located on an area of 1,475 ha in Hung Tay, Hung Dao, Hung Yen commune and Hung Nguyen town of Hung Nguyen district, and Hung Chinh commune of Vinh City. Total planed land of VSIP Nghe An was 6,153 ha including 750 ha of the 1^st stage with a total investment of VND1,657 billion, will be performed by VSIP Nghe An Co. affiliated to VSIP Co.

Participants of the groundbreaking ceremony were looking at miniature of VSIP Nghe An.

Speaking at the ceremony, Mr. Nguyen Xuan Duong, Chairman of Nghe An province People’s Committee said, the project had an important meaning as a driving force of Nghe An’s development in the future. Nghe An Party, government and people have greeted the project with a huge expectation to attract more both domestic and foreign investors, create jobs for tens thousands of workers, develop clean industries and high-quality services, make huge contributions to the local budget and local socio-economic development.

Sharing the joy with Nghe An, Mr. Kelvin Teo, Co-Chairman of Board of Directors of VSIP Group stressed, as VSIP Nghe An was put into use, Nghe An would be an ideal destination to labor-intensive manufacturing industries, like: garments, fast consuming products, labor intensive. VSIP Nghe An would promote industrial development needs, thereby creating jobs for local labors and creating added values, improving local people’s living standard.

Mr. Lim Hng Kiang, Singapore's Minister of Trade and Industry affirmed, the 7^th VSIP in Nghe An would not only contribute to solving labors, improving local people’s life, but also to speed up local growth and investment attraction. Moreover, the 7^th VSIP will consist of modern plants bringing a new standard of local infrastructure and environment quality. This vacant land will soon become a vibrant industrial park.

Confirmation for the friendship and cooperation

After a long way of development, strong investment flows and attention from many companies have witnessed the development and expansion of VSIPs. With seven projects, VSIP has presented in southern, central, northern provinces; VSIP has widen the success of the model of modern industrial park and city. Moreover, VSIPs have contributed to socio-economic development of Vietnam, created more than 150,000 jobs, and attracted a total investment of $7.9 billion from 23 foreign countries.

With the highest urban and industrial development in Vietnam, VSIP has become a prestigious brand name, a reliable partner. VSIP became the first company to be honored as “The best industrial development in Vietnam" in 3 consecutive years from 2012 to 2014. At the ceremony, to celebrate VSIP Nghe An project, Sembcorp (Singapore) and VSIP Co. committed to funding $100,000 for the clean water project Sembcorp - VSIP in Nghe An province.

Confirming the friendship and cooperation, Mr Kelvin Teo, Co-Chairman of Board of Directors of VSIP Group said: “We believe absolutely in the cooperation between Vietnam and Singapore in the industrialization urbanization process to accelerate economic development. Our core value is the quality of services and benefits for shareholders. Due to strategic positioning approach, we have realized VSIP plans on papers and constantly developed for the interests of Vietnamese people”.

Mr. Lim Hng Kiang said, the growth of VSIP had also played an important role in keeping up with ambitions of Vietnam in economic restructuring process to raise national level in the value chain. From traditional industrial areas, modern VSIPs have become mixed urban areas absorbing many industries with high added value, like: pharmaceutical products, consuming products, and precise engineering.

“This is an evidence for positive results of combining Vietnamese strengths in human resources, industrial land, and Singaporean professionalism in industrial park management and urban solutions. The groundbreaking ceremony of VSIP Nghe An not only marked the birth of a new VSIP but also proved the success of the initiative as well as friendship between governments of Singapore and Vietnam, upgrading the bilateral relation to a strategic partnership in 2013 and the regular exchange of high-ranking delegations”, said Mr. Lim Hng Kiang.

After nearly 20 years, VSIP has enhanced their efficiency, made significant achievements, and contributed significantly to Vietnam's economy, created a good investment environment for international friends, become a symbol of the friendship and cooperation between Vietnam and Singapore.

Reported by P.An – Translated by Ngoc Huynh