Binh Phuoc has urged the Vietnam-Singapore Industrial Park (VSIP) joint venture to build an industrial park in the southeastern province.
Nguyen Manh Cuong, chief of Binh Phuoc's Party Committee, made the statement during a Saturday visit to the VSIP in the central province of Nghe An.
"Binh Phuoc, with a focus on industrial development, aims to add 10 industrial parks and clusters to its current network of 13 units," said Cuong, also a Party Central Committee member.
The $280 million VSIP Nghe An 1 covers 750 hectares, including 367.6 hectares of industrial land and 382.4 hectares for urban areas, services, and housing. So far, the facility has attracted 42 projects covering 251.4 hectares, of which 37 have received investment certificates. The total registered capital of those projects reached $798 million, including 20 FDI projects worth $738.5 million.
Major investors in VSIP Nghe An 1 are Luxshare-ICT with $359 million, and Everwin with $200 million and a plan to raise the investment to $400 million, among others.
Currently, VSIP, a joint venture between Singapore’s Sembcorp Industries and Vietnam’s Becamex IDC, is preparing to invest $164.6 million to build VSIP Nghe An 2, covering 500 hectares.
VSIP facilities can attract $2 billion of investment into Nghe An province, said Teng Wei Hong, CEO of VSIP Nghe An Co., Ltd.
Binh Phuoc’s index of industrial production grew 6.02% year-on-year in the first four months of this year, driven by 6.1% of the manufacturing-processing sector, 4.05% of the mining sector, 3.84% of the electricity production and distribution sector, and others.
VSIP Group has developed 12 industrial parks in Vietnam so far. The industrial parks are located in Bac Ninh, Hai Phong and Hai Duong in the north; Nghe An, Quang Tri and Quang Ngai in the central region; and Binh Duong and Can Tho in the south.
Deputy Prime Minister Le Minh Khai last Monday approved an investment plan for a VSIP project in the northern province of Lang Son, which borders China.
Can Tho city is aiming to kick off construction of the first VSIP in the Mekong Delta in June. Can Tho Chairman Tran Viet Truong has requested relevant authorities to complete all preparations for the VSIP Vinh Thanh Industrial Park project by June 10.
Thai Binh and Nam Dinh seek to have VSIPs built in the northern provinces, local leaders told a conference in March. Nguyen Khac Than, Chairman of Thai Binh, said the provincial planning features over 30,000 hectares within its coastal economic zone for establishment of an industrial park. Meanwhile, Pham Dinh Nghi, Chairman of neighboring Nam Dinh, urged Binh Duong province and the VSIP joint venture to aid Nam Dinh in building a 1,000-hectare VSIP.