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
Construction giant Fecon starts work on Hanoi metro line, northern Vietnam rail link
Fecon, a leading Vietnamese construction group, on Friday broke ground on two major rail projects: a metro line in Hanoi and a strategic railway linking the capital city with northern localities.
Infrastructure - Sat, December 20, 2025 | 2:08 pm GMT+7
SJ Group to build smart urban area in western Hanoi to bolster Hoa Lac High-tech Park
Vietnam's leading developer SJ Group JSC is outlining plans for its over 1,200-hectare Tien Xuan Smart Urban Area project in Hanoi, which is expected to be a residential and service hub of the Hoa Lac science and technology city.
Real Estate - Sat, December 20, 2025 | 10:36 am GMT+7
Indonesia to deepen role in global semiconductor supply chain
Indonesia is rolling out efforts to identify opportunities and map its natural resources to support the semiconductor industry, as part of a broader strategy to build domestic industrial capacity.
Southeast Asia - Sat, December 20, 2025 | 9:36 am GMT+7
Indonesia to stop rice imports next year
Indonesia will not import rice for either consumption or industrial use next year, citing sufficient domestic production, according to a government official.
Southeast Asia - Sat, December 20, 2025 | 8:00 am GMT+7
Northern Vietnam port city Hai Phong charts sustainable growth path for free trade zone
The establishment of Hai Phong Free Trade Zone (FTZ) is a strategic direction that will elevate the role and position of Vietnam in general and Hai Phong in particular within the global value chain, heard a conference held in the northern port city last week.
Economy - Fri, December 19, 2025 | 8:12 pm GMT+7
Construction begins on $32.5 bln Red River Scenic Boulevard project in Hanoi
The gigantic project Red River Scenic Boulevard, with a preliminary investment of about VND855 trillion ($32.49 billion) in Phu Thuong ward, Hanoi, broke ground on Friday.
Real Estate - Fri, December 19, 2025 | 4:57 pm GMT+7
Major Vietnamese groups kick off mega projects in south-central Vietnam
Vingroup, BIN Corporation, Hoa Phat, and FPT simultaneously broke ground on large-scale projects in south-central Vietnam on Friday, raising expectations for new national growth momentum in the coming period.
Economy - Fri, December 19, 2025 | 4:36 pm GMT+7
Mega-airport Long Thanh in southern Vietnam welcomes first passenger flights
The first passenger flights touched down at Long Thanh International Airport in Dong Nai province on Friday morning, marking the inaugural civil aviation operation at Vietnam’s largest airport.
Economy - Fri, December 19, 2025 | 2:07 pm GMT+7
Vingroup starts work on $35.2 bln Olympic Sports Urban Area on Hanoi outskirts
Vingroup (HoSE: VIC), Vietnam's leading private conglomerate, on Friday broke ground on its 9,171-hectare Olympic Sports Urban Area project in Hanoi, which is expected to become a new growth engine for the southern part of the capital in the next decade.
Real Estate - Fri, December 19, 2025 | 1:59 pm GMT+7
Vietnam telecom giant VNPT establishes AI company
State-owned Vietnam Posts and Telecommunications Group (VNPT) on Thursday launched subsidiary VNPT AI, aiming to bring Vietnamese AI products to international markets.
Companies - Fri, December 19, 2025 | 11:50 am GMT+7
Quang Ngai Sugar develops sugar, biomass power projects worth $179 mln in central Vietnam
Quang Ngai Sugar JSC (UPCom: QNS), a top sugar producer in Vietnam, will simultaneously hold groundbreaking or inauguration ceremonies on Friday for three projects worth over VND4.7 trillion ($178.5 million) in Gia Lai province.
Companies - Fri, December 19, 2025 | 8:05 am GMT+7
Vietnam defeat Thailand to win men’s football gold at SEA Games 33
After conceding two goals in just over 30 minutes, Vietnam reversed the situation to finally beat host nation Thailand 3-2 in the men’s football final of the 33rd SEA Games.
Travel - Thu, December 18, 2025 | 10:43 pm GMT+7
Sun Group to commence construction on 5 landmark projects worth $5.7 bln
Sun Group is scheduled to start construction of five large-scale projects across Vietnam’s three regions on Friday, with a total investment of nearly $5.7 billion.
Companies - Thu, December 18, 2025 | 8:39 pm GMT+7
Unpaid credit card balances in Singapore hit record high in 10 years
Singapore's credit card debt has exceeded SGD9.07 billion (about $7 billion) in 2025's third quarter, a 10-year high that was last seen in 2014.
Southeast Asia - Thu, December 18, 2025 | 7:54 pm GMT+7
Thailand, Japan deepen transport, infrastructure cooperation
Thai Deputy Prime Minister and Minister of Transport Phiphat Ratchakitprakarn has met with Japanese Ambassador Otaka Masato to advance cooperation in Thailand’s transportation and infrastructure projects.
Southeast Asia - Thu, December 18, 2025 | 7:50 pm GMT+7
Masan's FMCG arm MCH to list on HCMC bourse at $8 per share, valuation tops $8.6 bln
Masan Consumer Corporation (UpCoM: MCH), the fast-moving consumer goods arm of Vietnam’s Masan Group, will officially debut on the Ho Chi Minh City Stock Exchange (HoSE) on December 25, with a reference price set at VND212,800 ($8.08) per share.
Companies - Thu, December 18, 2025 | 4:57 pm GMT+7
