Sembcorp receives investment license for VSIP facility in central Vietnam
Vietnam-Singapore Industrial Park J.V. Co. Ltd. (VSIP), a joint venture between Vietnam’s real estate developer Becamex and Singapore’s Sembcorp, has received an investment certificate for VSIP Ha Tinh Industrial Park.
In a Friday release, Sembcorp, which holds a 46.5% stake in the joint venture, said the VSIP facility in Vietnam's central province of Ha Tinh would cover 190 hectares in the first phase. The approval of VSIP Ha Tinh is the second of the joint venture this month, after VSIP II Quang Ngai.
VSIP will proceed to incorporate a wholly-owned subsidiary in Vietnam to conduct development activities of the first phase of VSIP Ha Tinh, expecting to complete the incorporation in the first quarter of 2024.
The planned sites for VSIP Ha Tinh and the Ha Tinh section of North-South Expressway. Photo courtesy of Ha Tinh newspaper.
The development is part of an agreement signed between Sembcorp and Becamex in August, during the Vietnam visit of Singaporean Prime Minister Lee Hsien Loong.
Per the agreement, the two sides will have four additional VSIP facilities, raising the VSIP portfolio to 17 across Vietnam. They will also conduct feasibility studies for 10 more across the country.
Sembcorp highlighted advantages of Ha Tinh province, a cog in the East-West Economic Corridor connecting Laos, Thailand, and Vietnam. Vung Ang Son Duong port in the province is one of the largest natural deep-water seaports in the region, which can link large transshipment ports such as Singapore and Hong Kong and serve as an alternative choice for seaports in northern Vietnam.
“The new investment license for VSIP Ha Tinh (phase 1) adds to the investment licenses received earlier this year for VSIP Lang Son and VSIP Nghe An II,” said Lee Ark Boon, CEO of Sembcorp Development, under Sembcorp.
“With the additional land bank pipeline secured from these projects, we will continue to focus on driving Sembcorp Development’s growth in Vietnam,” the executive added.
In December 2022, Singaporean Ambassador to Vietnam Jaya Ratnam visited the planned site for VSIP Ha Tinh. The industrial park was set to have an investment capital of $325 million, covering 603 hectares in Thach Ha district.
- Related News
- Read More
HCMC, Astana International Financial Center promote cooperation to develop Vietnam’s international financial center
Vietnam and Kazakhstan are focusing on strengthening cooperation in the financial sector, particularly between Ho Chi Minh City and the Astana International Financial Center (AIFC), located in Kazakhstan's capital.
Finance - Thu, July 17, 2025 | 11:52 pm GMT+7
FTSE Russell praises Vietnam for strong reform efforts
Representatives of FTSE Russell, a member of the London Stock Exchange Group, on Thursday said they highly evaluate Vietnam's strong reform efforts and commit to continue accompanying the country in the process of market modernization.
Finance - Thu, July 17, 2025 | 11:40 pm GMT+7
Developer of Southeast Asia’s largest exhibition center has new CEO
Tran Mai Hoa, chairwoman of Vincom Retail - the retail arm of Vietnamese private conglomerate Vingroup, has been appointed as new CEO of Vietnam Exhibition Fair Center JSC (VEFAC).
Companies - Thu, July 17, 2025 | 9:35 pm GMT+7
Vietnam’s offshore oil field produces first commercial oil ahead of schedule
The Kinh Ngu Trang-Kinh Ngu Trang Nam (White Whale-White Whale South or KNT-KTN) oil field, located in Block 09-2/09 off Vietnam's southern coast, welcomed its first oil flow on Monday, one day ahead of schedule.
Economy - Thu, July 17, 2025 | 4:03 pm GMT+7
Leading developer Becamex vows to develop eco-industrial parks in Vietnam
Becamex IDC Corp, a leading urban and industrial park developer based in Ho Chi Minh City, is committed to integrating international sustainability standards into the practical operations of its industrial parks in Vietnam, said CEO Nguyen Hoan Vu.
Industrial real estate - Thu, July 17, 2025 | 3:49 pm GMT+7
Northern Vietnam province to address traffic problem for Foxconn’s plant
Authorities in Vietnam’s northern province of Bac Ninh are working to resolve traffic congestion around the Quang Chau Industrial Park in response to concerns raised by Foxconn, a Taiwanese electronics giant and key supplier to Apple.
Companies - Thu, July 17, 2025 | 3:33 pm GMT+7
China firm plans wind power blade manufacturing project in central Vietnam
China's Zhuzhou Times New Material Technology Co., Ltd is proposing a wind power blade manufacturing project in the south-central coastal province of Khanh Hoa.
Energy - Thu, July 17, 2025 | 3:20 pm GMT+7
Investor awareness key to Vietnam’s stock market status upgrade: regulator
The Investor introduces the speech by Vu Thi Chan Phuong, chairwoman of the State Securities Commission (SSC), at the seminar "Raising investor awareness towards stock market status upgrade" in Hanoi on Thursday.
Finance - Thu, July 17, 2025 | 11:58 am GMT+7
S Korean firm apologizes for employee's assault in Hanoi
South Korea's Segyung Hi-Tech, with a subsidiary in the northern Vietnam province of Bac Ninh, on Wednesday issued a formal apology for its employee making an assault on two Vietnamese women in Hanoi.
Companies - Thu, July 17, 2025 | 10:23 am GMT+7
Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2
Vietnam’s largest steelmaker, Hoa Phat Group, posted after-tax profit of VND4.3 trillion ($164.4 million) in Q2/2025, up nearly 30% compared to both Q2/2024 and Q1/2025.
Companies - Thu, July 17, 2025 | 9:43 am GMT+7
Vietnam's fund management industry has chance to make breakthrough development: exec
Tax incentive policies will help people have confidence in investment funds and create a habit of long-term and disciplined investment, writes Nguyen Hang Nga, general director of Vietcombank Fund Management Company Limited (VCBF), a joint venture between state-controlled Vietcombank and Franklin Templeton Investments (FTI).
Consulting - Thu, July 17, 2025 | 8:52 am GMT+7
The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place
The Investor and its Vietnamese-language sister Nhadautu.vn will hold a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on Thursday, July 17.
Finance - Thu, July 17, 2025 | 7:30 am GMT+7
Chinese firms seek to develop smart urban areas in Vietnam
Hong Kong-headquartered CCC Infrastructure Co. and Shenzhen-based Hero Group wish to implement real estate projects in Vietnam, including investments in smart urban areas in the northern province of Bac Ninh and the southern province of Tay Ninh.
Real Estate - Wed, July 16, 2025 | 10:25 pm GMT+7
Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang
Local investor Sai Gon-Da Nang Investment JSC (SDN) has started construction on the Hoa Nhon Industrial Park (IP) which covers 24.75 ha in the central city of Danang.
Companies - Wed, July 16, 2025 | 8:34 pm GMT+7
US starts anti-circumvention probe into aluminum containers imported from Vietnam
The U.S. Department of Commerce (DOC) has initiated anti-circumvention investigations into disposable aluminum containers, pans, trays, and lids imported from Vietnam and Thailand, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade.
Companies - Wed, July 16, 2025 | 8:27 pm GMT+7
Vietnamese billionaire-backed VinSpeed raises capital to $573 mln
VinSpeed High-Speed Rail Investment and Development JSC, where Vietnamese billionaire Pham Nhat Vuong holds a controlling stake, has raised its capital from VND6 trillion to VND15 trillion ($573.5 million).
Infrastructure - Wed, July 16, 2025 | 4:33 pm GMT+7
