$60 mln road expansion to assist third VSIP Industrial Park in Binh Duong
A road leading to Vietnam-Singapore Industrial Park (VSIP) III in Binh Duong province will be expanded to six lanes to facilitate FDI inflow to the new IP.

Illustration of the 1,000-hectare VSIP III in Bac Tan Uyen district, Binh Duong province, southern Vietnam. Photo courtesy of VSIP III.
"Upgrading and expanding the DT746 road is a very important project to welcome new waves of investment into VSIP III and as Lego Group prepares to invest in building a $1 billion factory at the IP," Binh Duong's Party chief Nguyen Van Loi said Wednesday when inspecting progress of the IP project.
Loi requested compensation and clearance procedures to be completed in September 2022, disbursement of compensation funds to commence in October, so construction on the VND1,400 billion ($59.8 million) project could start in November 2022.
The publicly-funded project of upgrading and expanding the DT746 road, the section from Tan Thanh junction to Hoi Nghia junction in Bac Tan Uyen district, has a length of 11.3 kilometers.
The total number of affected households in Bac Tan Uyen district numbers 672 and in Tan Uyen town, 452. The local government has announced the land acquisition of 976 households.
BIDV, one of Vietnam’s “Big 4” commercial banks, will loan about $200 million for constructing VSIP III in Binh Duong under a loan agreement it signed with VSIP Co. Ltd. Monday.
VSIP Co. is a joint venture between Singapore’s energy and urban developer Sembcorp Industries and Binh Duong-based major industrial property and urban developer Becamex. It started the construction of the VSIP III - Binh Duong this March, with Vietnam’s Prime Minister Pham Minh Chinh attending the ground-breaking ceremony.
With a total investment of $280 million, the 1,000 hectare IP is located in Bac Tan Uyen district, about an hour’s drive from Ho Chi Minh City.
The park will have green and smart infrastructure to attract investment into many sectors including electricity, electronics, transport vehicle production and assembly, mechanics, support industry, textile - garment, food, beverage, and logistics.
VSIP’s 11 large-scale industrial parks in Vietnam are located in Bac Ninh, Hai Phong and Hai Duong in the north; Nghe An, Quang Tri and Quang Ngai in the central region; Binh Duong in the south.
Lego obtained a license in March this year to develop its latest project, which is also the largest investment in Vietnam by a Danish company, in VSIP III.
The Danish firm said the new factory will be its first carbon-neutral factory, featuring solar panels on its roof and that VSIP will build a solar project nearby on behalf of Lego. Together, they will produce enough renewable energy to match 100% of the factory’s annual requirements.
- Read More
Central Vietnam city seeks investors for $209 mln liquid/gas port project
The central city of Danang is calling for investment in a liquid/gas port project worth over VND5.43 trillion ($208.7 million), aimed at serving LNG and LPG storage and distribution.
Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7
Thai-backed food giant C.P. Vietnam rejects pork safety accusations
C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), has dismissed social media allegations of selling diseased pork, calling them fabricated and false.
Companies - Sat, May 31, 2025 | 8:54 am GMT+7
Oman Investment Authority to expand investment fund in Vietnam
Prime Minister Pham Minh Chinh has proposed Oman to enlarge the Vietnam-Oman Investment Fund (VOI) to $1 billion to better cater for the Southeast Asian country's investment needs.
Economy - Fri, May 30, 2025 | 11:26 pm GMT+7
Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta
Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).
Industries - Fri, May 30, 2025 | 4:44 pm GMT+7
76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC
Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.
Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 2:37 pm GMT+7
AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal
TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.
Companies - Fri, May 30, 2025 | 2:30 pm GMT+7
Vietnam's stock market attractively priced: Finnish fund PYN Elite
Vietnam’s stock market is attractively priced, with a price-to-sales (P/S) ratio of 1.3, said Petri Deryng, portfolio manager at Finnish investment fund PYN Elite.
Finance - Fri, May 30, 2025 | 2:09 pm GMT+7
S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman
SK Group, South Korea’s second-largest chaebol, is exploring several LNG-fueled power projects in Vietnam, including three proposed to be included in the country's green growth project portfolio, said chairman Tae-Won Chey.
Energy - Fri, May 30, 2025 | 1:37 pm GMT+7
Vietnam's Hoa Phat Group to become Southeast Asia’s first producer of steel rails for high-speed railways
Hoa Phat Group, a top steelmaker in Vietnam, on Thursday signed an agreement with Germany’s SMS Group under which the latter will provide the former technology and production lines for manufacturing steel rails and shaped steel, with an annual capacity of 700,000 tons.
Companies - Fri, May 30, 2025 | 11:48 am GMT+7
Vietnam's telco giant Viettel signs deal with France’s John Cockerill Defense
Viettel High Tech, the core military and civilian R&D arm of Vietnam’s military-run telecom giant Viettel, has signed a cooperation agreement with John Cockerill Defense, a leading weapon designer and manufacturer in France.
Companies - Thu, May 29, 2025 | 9:14 pm GMT+7
MB showcases comprehensive financial solution Biz MBBank at Digital Transformation Day event
Vietnam's leading bank MB on Thursday introduced its latest digital technology solutions, notably the Biz MBBank digital financial platform, at the "Smart Digital Ecosystem in the New Era" event organized by the central bank.
Companies - Thu, May 29, 2025 | 8:02 pm GMT+7
Vietnam's auto distributor TMT to launch $3.8 mln charging station firm
Vietnamese auto distributor TMT Motors has announced the establishment of a charging station company with a charter capital of VND100 billion ($3.84 million).
Companies - Thu, May 29, 2025 | 4:45 pm GMT+7
US's Excelerate Energy affirms intention to turn Vietnam into LNG hub for ASEAN
Excelerate Energy wants to make Vietnam a center for LNG distribution to the ASEAN region, president and CEO Steven Kobos told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Thursday.
Energy - Thu, May 29, 2025 | 4:33 pm GMT+7
Bourse shifts to heat up Vietnam's banking stocks
Several Vietnamese banks are planning to move their shares from the Unlisted Public Companies Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) this year, creating new momentum for banking stocks, long dubbed the “king” group.
Finance - Thu, May 29, 2025 | 2:48 pm GMT+7
Dairy giant TH Group proposes 5 projects in southern Vietnam
TH Group, one of Vietnam’s leading dairy producers, has proposed five major projects in the southern province of Binh Phuoc, in the fields of industrial production and urban area, golf course and high-tech agricultural production zone developments.
Industries - Thu, May 29, 2025 | 12:02 pm GMT+7