The Prime Minister on December 22 issued a decision approving an investment policy for the first-stage construction and operation of infrastructure in the Vietnam-Singapore Industrial Park II (VSIP II), located in the Dung Quat Economic Zone, the central province of Quang Ngai.
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At Vietnam-Singapore Industrial Park II in Quang Ngai (Photo: baochinhphu.vn)
Invested by the VSIP Quang Ngai Co., Ltd, the 50-year project will sit on a site of 497.7ha in Binh Thanh and Binh Hiep communes, Binh Son district. The project's total investment is over 3.73 trillion VND (155.7 million USD), 560.55 billion VND of which is contributed by the investor.
Assigned by the Governments of Vietnam and Singapore to operate VSIP projects in Vietnam in 1996, the Vietnam Singapore Industrial Park and Township Development JSC, a joint venture between Singapore’s Sembcorp Development and Vietnam’s Becamex IDC, has to date expanded to 13 developments across the country.
On February 10 in Singapore, Sembcorp announced a new partnership with Becamex on the occasion of Vietnamese Prime Minister Pham Minh Chinh's visit, to develop five new VSIPs in Vietnam valued at approximately 1 billion USD.