Central Vietnam province greenlights $280 mln Vietnam-Singapore industrial park
The Vietnam-Singapore Industrial Park JV Co. Ltd. (VSIP) received an in-principle nod from Thua Thien-Hue province Saturday to build a VND7 trillion ($280.4 million) VSIP industrial park.
Provincial authorities granted the approval document to the investor at an investment promotion conference that announced the province’s 2021-2030 master plan.
In December 2023, VSIP and Thua Thien-Hue authorities had discussed construction of a 500 hectare VSIP facility called La Son in the central province.
VSIP said the project will focus on attracting businesses of several sectors including the processing of agriculture-forestry products, construction materials, mineral processing, mechanical manufacturing, packaging-printing, electronics and apparel.
A VSIP representative (center) receives an in-principle approval document from Le Truong Luu (right), chief of the Thua Thien-Hue Party Committee, and provincial Chairman Nguyen Van Phuong in the central province, April 6, 2024. Photo courtesy of Thua Thien-Hue TV.
Thua Thien-Hue authorities also granted in-principle approvals to nine other projects at the conference. Totally, the ten projects have a registered capital of VND113.5 trillion ($4.55 billion).
Notable among the recipients were Vietnamese conglomerate BRG for jointly building the VND3 trillion ($120.2 million) five-star Century Riverside Hue hotel; South Korea’s Daewon for building a VND6 trillion golf-eco tourism-urban area complex; Vietnam’s top steelmaker Hoa Phat for a VND22 trillion eco-urban area; and local business Xuan Thien for a VND44 trillion steel mill, seaport and housing area.
The province also granted investment registration certificates to 11 projects with a total registered capital of VND9,134 billion ($365.9 million).
Prominent recipients of these were local business LEC Group for the VND1,512 billion Chan May logistics center within the Chan May seaport; Hanoi-based MIT Group for the VND2,186 billion Creanza high-tech quartz sand processing factory; and Thua Thien Hue-based Dong Da Investment and Development JSC for a VND1,299 billion project to reconstruct and renovate the A, B and C blocks of the Dong Da apartment complex.
Prime Minister Pham Minh Chinh speaks at an investment promotion conference in Thua Thien Hue province, central Vietnam, April 6, 2024. Photo courtesy of Thua Thien-Hue newspaper.
Prime Minister Pham Minh Chinh highlighted key features of Thua Thien-Hue’s master plan, including its traditional, smart, adaptable, clean, green, safe and sustainable aspects.
He said the province must focus on mobilizing resources from both public and private sources, as also foreign capital. It should explore multiple investment formats including public-private partnership for implementing projects, he added.
The PM also asked the province to focus on upgrading itself to become a centrally-administered city in 2025.
- Related News
- Read More
Vietnam plans to spend over $2 bln on US agri imports
Vietnam’s Ministry of Agriculture and Environment is expected to sign MoUs to purchase over $2 billion worth of U.S. agricultural, forestry, and fishery products.
Economy - Tue, June 3, 2025 | 10:01 pm GMT+7
New flight route to help Danang attract more wealthy tourists from Middle East
The new Dubai-Danang flight route has been launched, paving the way for an influx of high-spending travelers from the Middle East and Europe to the central Vietnam city, one of the country's top tourist attractions.
Companies - Tue, June 3, 2025 | 9:13 pm GMT+7
Food giant C.P. Vietnam’s 'diseased' pigs improperly quarantine-stamped: authorities
The widely circulated images of diseased pigs from C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), date back to 2022, but the pigs were improperly stamped, Vietnamese authorities stated on Tuesday.
Companies - Tue, June 3, 2025 | 5:36 pm GMT+7
Son Hai Group proposes expanding 263km stretch of Vietnam's North-South Expressway
Vietnam’s Son Hai Group is seeking Prime Minister Pham Minh Chinh's approval to invest in the expansion of a 263-kilometer stretch of the eastern section of the North-South Expressway.
Infrastructure - Tue, June 3, 2025 | 3:53 pm GMT+7
FedEx establishes direct serve in Vietnam on surging demand
FedEx Express Corporation, one of the world’s largest express transportation companies, has transitioned to a direct-serve presence in Vietnam amid the Southeast Asian country’s growing international shipping demand.
Industries - Tue, June 3, 2025 | 2:55 pm GMT+7
Vietnam’s steel giant Hoa Phat to deliver thousands of containers to domestic shipping lines
Vietnam’s largest steelmaker, Hoa Phat Group, will supply thousands of containers to VIMC Container Transport JSC (VIMC Lines) and Vinafco Shipping JSC under recently signed contracts.
Companies - Tue, June 3, 2025 | 12:16 pm GMT+7
Shinhan Bank receives 'Fastest growing SME bank Vietnam 2025' award
South Korea’s Shinhan Bank Vietnam Limited has been named the “Fastest Growing SME Bank Vietnam 2025” by World Economic Magazine (UK).
Companies - Tue, June 3, 2025 | 10:19 am GMT+7
Vietnam’s ‘shrimp king' Minh Phu expects to return to profit in 2025
Minh Phu Seafood Corporation (UPCoM: MPC), Vietnam’s leading shrimp exporter, expects net profit to reach VND997 billion ($38.03 million) this year, reversing the loss in 2024.
Companies - Tue, June 3, 2025 | 8:38 am GMT+7
CMC Corporation breaks ground on $300 mln technology hub in Hanoi
Vietnam's leading technology firm CMC Corporation on Monday broke ground on its $300 million Hanoi CMC Creative Space (CCS Hanoi) project.
Industries - Mon, June 2, 2025 | 11:19 pm GMT+7
Thailand’s industrial output up after 9-month decline
Thailand’s industrial output has turned positive for the first time in nine months, with the automotive sector rebounding after a 21-month slump, said Thai Deputy Finance Minister Paopoom Rojanasakul.
Southeast Asia - Mon, June 2, 2025 | 10:48 pm GMT+7
Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research
Singapore and France have upgraded their Strategic Partnership signed in 2012 to a Comprehensive Strategic Partnership (CSP), marking Singapore's first CSP with a European country.
Southeast Asia - Mon, June 2, 2025 | 10:47 pm GMT+7
Masan MEATLife stock jumps on continued profit momentum
The ticker of Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, jumped by 8.71% to VND31,200 ($1.2) per share on Monday, after it reported profit for the third consecutive quarter in Q1/2025.
Companies - Mon, June 2, 2025 | 10:34 pm GMT+7
Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms
The Becamex VSIP Binh Dinh service-urban-industrial complex in the central province of Binh Dinh is emerging as a promising destination for Thai enterprises, said its developer Becamex Binh Dinh JSC.
Industrial real estate - Mon, June 2, 2025 | 10:24 pm GMT+7
Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert
A major bottleneck in Vietnam’s electricity transition has been the termination of the feed-in-tariff (FIT) mechanism in 2021, with no suitable replacement mechanism in place, according to the director of Hanoi-based Institute of Energy Technology.
Economy - Mon, June 2, 2025 | 4:56 pm GMT+7
Vietnam Vaccine JSC launches high-quality healthcare shop chain
Vietnam Vaccine JSC (VNVC), well known for its vacciation services, on Saturday launched its VNVC Shop, a chain offering safe, high-quality healthcare products from globally recognized brands.
Companies - Mon, June 2, 2025 | 4:05 pm GMT+7
Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years
PV Gas, a subsidiary of state-owned giant Petrovietnam, plans to make "strong investment" over the next five years in areas such as infrastructure and import-distribution of LNG.
Energy - Mon, June 2, 2025 | 2:01 pm GMT+7
