H1 profit of Singapore-backed industrial park developer VSIP hits $43 mln
Vietnam-Singapore Industrial Park J.V. Co., Ltd, or VSIP, the largest industrial park developer in Vietnam, posted nearly VND1.13 trillion ($42.7 million) in net profit in the first half of 2025, up nearly 3.4% year-on-year.
The company recorded net profits of VND2.26 trillion ($85.71 million) in 2022, VND1.7 trillion ($64.6 million) in 2023, and a record VND3.28 trillion ($124.6 million) in 2024.
As of end-June, its owner’s equity reached nearly VND18.53 trillion ($682.6 million), up 12.3% year-on-year. Of the sum, VND9.94 trillion ($377.4 million) is retained earnings.
The VSIP Hai Phong Industral Park in Hai Phong city, northern Vietnam. Photo courtesy of Nghe An newspaper.
VSIP’s total liabilities rose 22.1% year-on-year to nearly VND23.46 trillion ($890.4 million), with bank loans accounting for VND13.56 trillion ($514.6 million).
As of end-June, its total assets increased 17.6% to VND41.99 trillion ($1.59 billion).
The company issued three batches of bonds, with the first issued in July 2021 at an interest rate of 9%, and the remaining two issued in September 2023 at 10.5%.
VSIP developed the first industrial park (IP) in the southern province of Binh Duong in 1996 through a joint venture between local developer Becamex IDC and Singapore’s Sembcorp.
In March, the firm broke ground on a VND4.9 trillion ($187.2 million) industrial park in former Thai Binh province, which was recently merged with neighboring Hung Yen to form the new Hung Yen.
Its portfolio now comprises 20 IPs covering a combined 12,000 hectares in provinces in Vietnam. The company boasts that it has attracted some $15 billion in registered investment capital from 880 tenants from 30 countries and territories so far, creating 250,000 jobs.
- Related News
- Read More
Vietcombank aims to complete private placement in 2026
The chairman of Vietcombank said the state-controlled lender is working with potential investors and is in detailed negotiations, with a view to executing a private placement in 2026, subject to market conditions.
Banking - Sat, April 25, 2026 | 9:35 am GMT+7
PVOIL targets 30% profit hike, expands into aviation fuel and EV charging
PVOIL, a subsidiary of state-owned Petrovietnam, has set a target of stronger profit growth in 2026 as it diversifies beyond traditional fuel retail into aviation fuel and electric vehicle (EV) charging infrastructure.
Companies - Sat, April 25, 2026 | 8:17 am GMT+7
Foxconn accelerates investment in Vietnam, moves toward humanoid robot manufacturing
Taiwan’s Hon Hai Precision Industry (Foxconn), a major Apple supplier, is signaling a deeper expansion in Vietnam as it pushes beyond traditional electronics manufacturing into higher-value automation, including industrial humanoid robots.
Industries - Fri, April 24, 2026 | 6:44 pm GMT+7
Century Synthetic Fiber Corp. targets 38% profit growth, bets on recycled fiber
Century Synthetic Fiber Corporation (HoSE: STK) aims for a 37.7% increase in 2026 pre-tax profit to VND128.5 billion ($4.88 million), driven primarily by its recycled fiber segment and a newly operational plant invested by its subsidiary Unitex.
Companies - Fri, April 24, 2026 | 5:31 pm GMT+7
Vietnam developer TTC Land eyes steady cash flow with sister firm acquisition
Saigon Thuong Tin Real Estate JSC (TTC Land), a subsidiary of multi-sector conglomerate TTC Group, is moving to secure stable, recurring revenue through the acquisition of Thanh Thanh Nam (TTN), another TTC Group member.
Companies - Fri, April 24, 2026 | 3:31 pm GMT+7
Vietnam, S Korea ink 12 deals, nuclear energy tie-up takes center stage
Vietnam and South Korea have signed 12 cooperation agreements spanning security, technology, energy and culture, with nuclear power collaboration a key highlight.
Economy - Fri, April 24, 2026 | 3:01 pm GMT+7
Thai SCG to halt Vietnam petrochemical plant in mid-May over Middle East conflict
Thai conglomerate Siam Cement Group (SCG) will suspend the operations of its Long Son Petrochemicals Complex in southern Vietnam, starting mid-May, as the Middle East conflict weighs on supply chain.
Energy - Fri, April 24, 2026 | 12:02 pm GMT+7
Vietnam licenses 10th wholly foreign bank after 9-year hiatus
Vietnam has allowed Industrial Bank of Korea (IBK) to establish a wholly foreign-owned, locally incorporated bank - the first such a license in nine years.
Banking - Fri, April 24, 2026 | 9:38 am GMT+7
Vissan falls short of public company criteria over concentrated ownership
Vietnam's leading meat producer Vissan has acknowledged that it fails to meet the requirements to qualify as a public company, citing its current shareholder structure and the absence of a divestment roadmap from state authorities.
Companies - Fri, April 24, 2026 | 8:17 am GMT+7
China's Su Shang seeks infras investment opportunities in northern Vietnam industrial hub
Su Shang Construction Group, a major Chinese infrastructure developer, is exploring investment opportunities in Bac Ninh as the northern Vietnam province steps up efforts to expand its transport and urban infrastructure network.
Infrastructure - Thu, April 23, 2026 | 9:09 pm GMT+7
Vietnam's leading broker SSI posts Q1 profit of $61 mln, trims equity exposure
SSI Securities Corporation reported a Q1 pre-tax profit of over VND1.59 trillion ($60.5 million), as the brokerage scaled back equity investments and margin lending amid volatile markets and rising interest rates.
Companies - Thu, April 23, 2026 | 5:33 pm GMT+7
Vietnam’s housing market posts 2.5-fold rise in new supply, enters selective recovery in Q1
Vietnam’s real estate market showed signs of recovery in the first quarter of 2026, with supply rebounding strongly and demand remaining resilient, even as high prices and cautious sentiment continued to shape buyer behavior.
Real Estate - Thu, April 23, 2026 | 4:30 pm GMT+7
Danang city approves Thaco Group unit to study urban railway project under PPP model
Central Vietnam hub Danang has approved a unit of Truong Hai Group (Thaco) to study investment in a proposed urban railway project under a public-private partnership (PPP) model, the city government said.
Infrastructure - Thu, April 23, 2026 | 3:01 pm GMT+7
VPBank CEO defends higher bad debt as trade-off for growth
Vietnam’s private lender VPBank is willing to tolerate a higher bad debt ratio as a trade-off for growth, reflecting its distinct business model and focus on higher-yield segments, its CEO said.
Banking - Thu, April 23, 2026 | 2:13 pm GMT+7
Diversifying export markets ‘golden key’ for Vietnamese firms: CEO
Expanding into alternative export markets such as India and the Middle East could prove a “golden key” for Vietnamese businesses, as demand in these regions remains strong and entry requirements are less stringent than in the U.S., according to Nguyen Tuan Viet, CEO of Vietgo, an im-export consultancy company.
Economy - Thu, April 23, 2026 | 11:39 am GMT+7
Vietnam banks face tightening margins, liquidity pressures in 2026
Vietnam’s banking sector is entering a period of heightened selectivity in 2026, with capital strength and liquidity management emerging as decisive factors separating lenders able to expand from those forced to scale back operations.
Banking - Thu, April 23, 2026 | 8:17 am GMT+7
