Northern Vietnam province to complete site clearance next month for VSIP industrial park

Thai Binh province in northern Vietnam is striving to complete site clearance next month for VSIP Thai Binh, a facility under the Vietnam-Singapore Industrial Park (VSIP) model.

Thai Binh Chairman Nguyen Khac Than urged speed on the site clearance task at a meeting last week with officials of Thai Thuy district, where the new facility will be located.

He noted that the district has missed several site clearance deadlines to date.

Than also requested the district’s police to collaborate with local authorities in carrying out site clearance and preventing social disturbances.

District officials reported that site clearance for the 349-hectare project was being done in two phases. It noted that the project will cover two communes – An Tan and Thuy Truong.

About 95% of households in Thuy Truong commune have agreed with the site clearance, while a majority of households in An Tan communes have yet to do so.

As planned, the $211.87 million VSIP Thai Binh will be located 10 km from the Diem Dien port, 40 km from the Dinh Vu seaport in Hai Phong city and 50 km from Cat Bi International Airport, also in Hai Phong.

Once operational, the developer aims to attract investors in manufacturing, processing and industrial services, with a focus on high technology, supporting industries, new materials, farm produce and seafood processing, as well as industries that have high added value, are energy efficient and environmentally friendly.

VSIP, a joint venture between Vietnam’s Investment and Industrial Development Corporation (Becamex IDC) and Singapore’s Sembcorp, has developed 12 industrial parks across Vietnam, mostly in key industrial hubs.

The largest industrial park developer in the country, the joint venture reported a net profit of VND1,090 billion ($43.84 million) in the first half of this year, up 146% year-on-year.