Nghe An province to invest $5.6 mln in infrastructure for VSIP
Vietnam’s central province of Nghe An will invest VND135 billion ($5.6 million) to build a water disposal system for the to-be-built Vietnam-Singapore Industrial Park (VSIP) Tho Loc.
According to a decision dated August 21, the system targets to prevent floods in the residential areas near VSIP Tho Loc, which will be the second VSIP in Nghe An province.
Construction of the 2.7-kilometer system is set to take under four years amd will commence on August 29 as part of a push to implement Vietnam-Singapore investment projects, a reliable source told The Investor.
VSIP I Industrial Park in Nghe An province, central Vietnam. Photo courtesy of VSIP.
In February, the Vietnamese government presented Sembcorp and Becamex with an investment license to develop the 500-hectare VSIP Tho Loc (VSIP II). Per a decision signed by Deputy Prime Minister Tran Luu Quang, construction must be completed in 48 months from the date of land delivery.
Nghe An province is already home to VSIP I in Hung Nguyen district. The 750-hectare facility, established in 2015, had attracted 39 projects with a total registered capital of $743.6 million as of March 2023. The occupation ratio has reached 88% and 23 projects have entered operation.
Major investments in the first VSIP include $200 million from electronics fỉrm Everwin Precision Hong Kong Co. Ltd., $150 million by China-headquartered Luxshare-ICT, and $165 million by China’s Shandong Innovation Group.
Nghe An’s index of industrial production (IIP) grew 2.63% in the first seven months of this year, including growth of 8.69% in July. The seven-month performance was driven by an increase of 3.7% in the manufacturing-processing sector, and 1.85% in mining, 21.45% in water supply and waste management.
- Related News
- Read More
Intel’s 20 years in Vietnam: $1.5 bln invested, 4 bln chips produced
U.S. chip maker Intel has invested over $1.5 billion in the nearly 20 years in Vietnam and exported more than 4 billion products, contributing over $100 billion to Vietnam’s export revenue.
Industries - Thu, July 10, 2025 | 9:57 pm GMT+7
HCMC’s new master plan should prioritize breakthrough growth in finance, high technology, logistics: expert
Ho Chi Minh City should promote university-oriented urban models and innovation ecosystems built on the “quadruple helix” framework - collaboration among the government, universities, businesses, and the community.
Economy - Thu, July 10, 2025 | 9:42 pm GMT+7
UAE tech firm G42, Vietnamese partners plan $2 bln hyperscale data center in southern Vietnam hub
The United Arab Emirates's (UAE) state-backed firm G42 plans to partner with Vietnamese companies to develop a $2 billion hyperscale data center in Vietnam's southern hub Ho Chi Minh City.
Industries - Thu, July 10, 2025 | 4:22 pm GMT+7
Petrovietnam rakes in $19.5 bln in H1 revenue
State-owned Petrovietnam reported total revenue of VND510 trillion ($19.5 billion) in the first half of this year, driven by strong production performance.
Companies - Thu, July 10, 2025 | 4:03 pm GMT+7
Sustained momentum seen across all Vietnam's real estate sectors: Knight Frank
Ho Chi Minh City and Hanoi saw solid office leasing and apartment market rebounds after the Lunar New Year holiday (Tet). Industrial land surged with record H1 supply and strong absorption, underscoring Vietnam's appeal, while eased visa policies and new direct international flights continue to support 5‑star hotels in both the cities, write Knight Frank analysts.
Real Estate - Thu, July 10, 2025 | 2:37 pm GMT+7
Vietnam's maritime heavyweight VIMC to expand container port services, bulk cargo transport
Vietnam Maritime Corporation (VIMC) will increase revenue and profit via expanding operations in areas such as container port services, bulk cargo transport, and shipping of agricultural products and steel, leveraging existing infrastructure and fleet advantages.
Companies - Thu, July 10, 2025 | 2:15 pm GMT+7
Vietnam infrastructure spending surges 40%
Vietnam’s infrastructure spending surged 40% year-on-year in the first half of the year, fuelled by fast-tracked approvals of projects amid provincial mergers; legal reforms granting provinces more decision-making authority over project approvals; and the streamlining of disbursement processes, write chief economist Michael Kokalari and senior analyst Thai Viet Trinh at VinaCapital.
Consulting - Thu, July 10, 2025 | 11:56 am GMT+7
Phu Quoc enters Travel + Leisure’s top luxury destinations
Phu Quoc’s presence in Travel + Leisure’s Asia-Pacific luxury travel rankings continues to affirm the island’s status as a world-class destination.
Companies - Thu, July 10, 2025 | 11:43 am GMT+7
July dividend wave hits Vietnamese market following AGM season
Ending the 2025 AGM season, a series of Vietnamese companies have announced dates for finalizing the list of shareholders eligible for dividends in July.
Finance - Thu, July 10, 2025 | 11:07 am GMT+7
Cordless technology leader TTI plans to expand manufacturing in southern Vietnam
Germany's Techtronic Industries Company Limited (TTI), a world leader in power tools and outdoor power equipment, wants to expand its Milwaukee plant in Ho Chi Minh City.
Industries - Thu, July 10, 2025 | 8:58 am GMT+7
Vietnam pledges support for AES investment in green energy
Vietnam will continue to facilitate foreign investment and business activities, including those by U.S. enterprises, in line with laws and the country’s evolving development needs, said Tran Luu Quang, Chairman of the Party Central Committee’s Commission for Policies and Strategies.
Companies - Wed, July 9, 2025 | 11:10 pm GMT+7
Tezuka Daisuke appointed as new general director of Aeon Vietnam
Aeon Group has appointed Tezuka Daisuke, who is in charge of its organization reform for fiscal year 2025, as general director of Aeon Vietnam Co., Ltd.
Companies - Wed, July 9, 2025 | 11:03 pm GMT+7
Vietnam mobilizes over $7 bln for Just Energy Transition
Vietnam has so far mobilized more than $7 billion for its Just Energy Transition agenda under the Political Declaration on the Just Energy Transition Partnership (JETP).
Companies - Wed, July 9, 2025 | 10:38 pm GMT+7
Thailand hopes to conclude US trade talks before new deadline
Thailand is optimistic that it can finalize a trade deal with the U.S. before the August 1 deadline to avoid a 36% tariff imposed by President Donald Trump, according to Finance Minister Pichai Chunhavajira.
Southeast Asia - Wed, July 9, 2025 | 10:34 pm GMT+7
Southeast Asia seeks additional tariff negotiations with US
Southeast Asia's biggest economies are preparing to intensify trade negotiations with the U.S. after being subjected to steep tariff rates, despite having made a series of last-minute proposals aimed at increasing imports and significantly reducing tariffs on U.S. goods.
Southeast Asia - Wed, July 9, 2025 | 10:31 pm GMT+7
Foreign capital massively flows into banking, securities stocks
Foreign investors net bought for the sixth consecutive session on the Vietnamese stock market Wednesday, to the tune of nearly VND2,000 billion ($76.5 million), focusing on banking and securities stocks.
Finance - Wed, July 9, 2025 | 10:17 pm GMT+7
