Second VSIP industrial park in Quang Ngai province set for construction in Oct 2025
The construction of VSIP II Quang Ngai in Quang Ngai province, under the Vietnam-Singapore Industrial Park (VSIP) model, is set to begin in October 2025, according to the investor.
VSIP Quang Ngai Co. Ltd. made the statement at a Tuesday meeting with provincial authorities, calling on them to provide help with some challenges. One of the major challenges is site clearance and resettlement for people living on the project site.
Quang Ngai Vice Chairman Tran Phuoc Hien at a working session with VSIP Quang Ngai in the central province, May 7, 2024. Photo courtesy of Quang Ngai newspaper.
VSIP Quang Ngai also proposed a site clearance schedule for the 498-hectare project, including 139 hectares in 2024, 127.2 hectares in 2025, 124 hectares in 2026, and 107 hectares in 2027.
Backing the project, Quang Ngai Vice Chairman Tran Phuoc Hien asked relevant agencies to cooperate with the investor to speed up the progress, with a focus on building a road connecting the facility to National Highway No.1.
Vietnam Singapore Industrial Park Joint Venture Co. (VSIP), the developer of VSIP industrial parks, recorded a post-tax profit of VND1,703 billion ($66.9 million) in 2023, down 24.6% year-on-year.
VSIP, a joint venture between Vietnam’s Investment and Industrial Development Corporation (Becamex IDC) and Singapore’s Sembcorp Development Group, established its first VSIP in Vietnam in 1996, covering 2,500 hectares in the southern industrial hub of Binh Duong.
The joint venture now operates 15 VSIP industrial parks in 11 localities across Vietnam, Sembcorp reported in its 2023 performance review.
In December 2023, Deputy Prime Minister Tran Luu Quang approved the first phase investment of VSIP II Industrial Park in Dung Quat Economic Zone, Quang Ngai province, with an investment of VND3,737 billion ($154 million). The 497.7-hectare project was granted a 50-year license.
The construction of VSIP I Quang Ngai began in September 2013. So far, the facility has attracted foreign investments of over $1 billion from 36 businesses from the U.S., the Philippines, Hong Kong, Japan, South Korea, Belgium, and mainland China, employing 29,000 people.
In February 2016, the facility began an expansion project of 100 hectares for a service-urban area, of which 24 hectares has been completed.
- Related News
- Read More
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
Margin lending in Vietnam’s stock market hits record, but not worrisome
Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.
Finance - Tue, October 21, 2025 | 4:23 pm GMT+7
Lenders in Vietnam now in low-rate lending race: ACB exec
The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.
Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7
PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry
Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.
Companies - Tue, October 21, 2025 | 3:45 pm GMT+7
Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months
F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.
Companies - Tue, October 21, 2025 | 3:15 pm GMT+7
Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery
With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.
Economy - Tue, October 21, 2025 | 2:33 pm GMT+7
Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub
The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.
Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7
State-managed property trading centers will help curb speculation, price manipulation: expert
Establishment of state-managed real estate trading centers is expected to create a transparent transaction channel, helping control and limit speculation and price manipulation in the Vietnamese market.
Real Estate - Tue, October 21, 2025 | 8:37 am GMT+7
Vietnam's benchmark VN-Index records sharpest drop in 25-year history
VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw the sharpest decline in its 25-year history on Monday, down by 94.76 points, or 5.47%, to 1,636.43.
Finance - Mon, October 20, 2025 | 5:49 pm GMT+7
Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue
Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest construction contractors, has set ambitious targets for its fiscal year 2026, driven by a record order backlog and its push into international markets.
Companies - Mon, October 20, 2025 | 4:50 pm GMT+7
Real estate, gold markets to be fully established by 2026: Prime Minister
Vietnam plans to complete comprehensive legal framework for its financial, real estate, and gold markets by 2026 as part of a broader effort to modernize market infrastructure and accelerate economic growth, said Prime Minister Pham Minh Chinh.
Finance - Mon, October 20, 2025 | 3:33 pm GMT+7
Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province
Vietnam’s Ministry of Public Security has broken ground on a 60,000-seat domed stadium in the northern province of Hung Yen, set to become the country’s most technologically advanced sports venue.
Society - Mon, October 20, 2025 | 2:48 pm GMT+7
