Vietnam-Singapore Industrial Park breaks ground in Quang Ngai Province

Prime Minister Nguyen Tan Dung and his Singapore counterpart Lee Hsien Loong attended the groundbreaking ceremony of the Vietnam-Singapore Industrial Park in the central province of Quang Ngai on September 13.

PM Nguyen Tan Dung speaks at the groundbreaking ceremony of the 5th Vietnam-Singapore Industrial Park (Photo: SGGP)

This is the fifth industrial park to be developed by the Viet Nam-Singapore Integrated Township and Industrial Park (VSIP) in Vietnam.

VSIP covers an area of over 1,200 hectares in Tinh Tho and Tinh Phong Communes in Son Tinh District in the central province of Quang Ngai. The first phase of the project for commercial and residential purposes has been kicked off with a total investment capital of US$125 million.

PM Nguyen Tan Dung stressed that these projects have become a trade name and symbol of a successful cooperation between Vietnam and Singapore. The projects have made outstanding contributions in Vietnam’s socio-economic development over the last 17 years.

VSIP is a world-class industrial park development company that was initiated by the Governments of Vietnam and Singapore.

Their first industrial park was built in Binh Duong Province in 1996, which today has become the leading industrial park in Vietnam. Some 240 investors from 22 countries around the world have chosen to base long-term investment projects here. The second park was officially launched in 2006 in the province.

In 2007, the company announced its expansion plans in the  north with two projects, namely, the Bac Ninh Township and Industrial Park Complex over 700 hectares and the Hai Phong Township and Industrial Park Complex over 1,600 hectares.

Singapore Prime Minister Lee Hsien Loong listens to a report on the industrial park(Photo: SGGP)

So far these have attracted over 490 investors from 22 countries and territories with a total investment capital of more than US $6,4 billion, and generated steady jobs for 140,000 workers.


 

By Ha Minh – Translated by Kim Khanh

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