Sembcorp to develop Quang Tri industrial park

By Tuong Minh
Thu, April 14, 2022 | 2:06 pm GMT+7

Vietnam Singapore Industrial Park or VSIP, a joint venture between Vietnam’s Becamex IDC and Singapore's Sembcorp Development, is to embark on constructing an industrial park in Quang Tri province this month.

The project recently got Quang Tri's approval and its groundbreaking ceremony is scheduled on April 30, according to provincial authorities.

A corner of Hai Lang district in Quang Tri, central Vietnam. Photo courtesy of the province’s portal.

A corner of Hai Lang district in Quang Tri, central Vietnam. Photo courtesy of the province’s portal.

The $90 million project, Quang Tri Industrial Park, will cover 428 hectares in Hai Lang district in central Vietnam. The consortium of investors comprises VSIP JV, Japan’s Sumitomo Corp., and Amata City Bien Hoa JSC, a subsidiary of Thai industrial developer Amata.

With the new industrial park, Quang Tri has five ones. The other four are Quan Ngang, Northwest Ho Xa, Nam Dong Ha, and Trieu Phu IPs.

Sembcorp has invested in Vietnam for more than 25 years and so far established 11 Vietnam Singapore Industrial Parks. It has established its footprint as a principal driver of the Vietnam-Singapore economic partnership.

VSIP JV broke ground for the VSIP III Industrial Park in Binh Duong, a southern manufacturing hub, on March 19, with Prime Minister Pham Minh Chinh attending the ceremony.

On the sidelines of the event, Danish toymaker Lego Group obtained a license to build a facility with more than $1 billion in investment inside VSIP III. This is the largest investment in Vietnam made by a Danish company so far.

The modern factory, planned to be Lego’s first carbon-neutral factory worldwide, will cover 44 hectares, creating up to 4,000 jobs over the next 15 years. The new facility will be the group’s sixth manufacturing site globally and second in Asia.

Lego said they chose Vietnam because they wanted to cater to rising demand in Asia and also strengthen their supply chain. The group has five other manufacturing locations in China, Denmark, Czech, Hungary, and Mexico. The Vietnamese facility is being built to support additional long-term growth in the region.

Comments (0)
  • Read More
Vietnam’s Q1 industrial production up 5.7%, Tra Vinh leads the pack

Vietnam’s Q1 industrial production up 5.7%, Tra Vinh leads the pack

Vietnam’s index of industrial production (IIP) rose 4.1% year-on-year in March and 5.7% in January-March, with the southern province of Tra Vinh recording stupendous growth, the General Statistics Office (GSO) reported Friday.

Top News - Fri, March 29, 2024 | 4:26 pm GMT+7

Economists call for abolishment of State Bank of Vietnam’s gold bar production monopoly

Economists call for abolishment of State Bank of Vietnam’s gold bar production monopoly

Eminent economists have called on the State Bank of Vietnam (SBV), the country’s central bank, to relinquish its decade-old monopoly on gold bullion production.

Banking - Fri, March 29, 2024 | 3:48 pm GMT+7

Petrovietnam, subsidiaries ink gas sales deal with Japanese, Thai partners for $12 bln power project

Petrovietnam, subsidiaries ink gas sales deal with Japanese, Thai partners for $12 bln power project

State-run Petrovietnam and its subsidiaries have signed deals with Japanese and Thai partners to buy gas for their long delayed $12 billion power project at Block B-O Mon.

Energy - Fri, March 29, 2024 | 2:05 pm GMT+7

VietBank founder Tran Thi Lam leaves executive post

VietBank founder Tran Thi Lam leaves executive post

Tran Thi Lam, a founder of Vietnam Thuong Tin Commercial Joint Stock Bank (aka VietBank), has stepped down as its deputy general director after nearly 10 months, citing personal reasons.

Banking - Fri, March 29, 2024 | 1:45 pm GMT+7

Broker VNDirect set to resume operations next Monday after ransomware attack

Broker VNDirect set to resume operations next Monday after ransomware attack

Leading brokerage house VNDirect Securities is completing procedures to get re-connected to the Ho Chi Minh and Hanoi stock exchanges (HoSE and HNX) with a plan to resume operations next Monday after a ransomware attack forced its suspension.

Finance - Fri, March 29, 2024 | 1:42 pm GMT+7

The Investor to hold seminar on green credit, green bond legal framework next week

The Investor to hold seminar on green credit, green bond legal framework next week

The Investor is set to hold a seminar on green credit and green bonds next Wednesday (April 3) in a bid to discuss ways to remove bottlenecks in the legal framework and boost market development.

Finance - Fri, March 29, 2024 | 1:15 pm GMT+7

Japanese firms wish to expand operations in Vietnam: Japan Business Federation

Japanese firms wish to expand operations in Vietnam: Japan Business Federation

Japanese businesses hope to continue expanding in Vietnam and contributing to Japan-Vietnam economic cooperation in many fields, said Masayoshi Fujimoto and Masayuki Hyodo, co-chairmen of the Japan-Vietnam Economic Committee of the Japan Business Federation (Keidanren).

Economy - Fri, March 29, 2024 | 12:08 pm GMT+7

Head of Maritime Bank branch arrested

Head of Maritime Bank branch arrested

The director of Maritime Bank's Thanh Xuan branch in Hanoi was arrested on Thursday for fraudulently appropriating VND338 billion ($13.53 million) from eight customers.

Society - Fri, March 29, 2024 | 12:01 pm GMT+7

Thailand uses Dutch barge to collect garbage from Chao Phraya river

Thailand uses Dutch barge to collect garbage from Chao Phraya river

Thailand on Wednesday started to use Interceptor 019, a solar-powered barge, to collect waste on part of Chao Phraya river in Bangkok.

Southeast Asia - Fri, March 29, 2024 | 10:32 am GMT+7

Indonesia expands startups’ access to financing

Indonesia expands startups’ access to financing

Indonesia’s Cooperatives and Small and Medium Enterprises Ministry has continued to exert efforts to expand access to financing and investment to the country’s startup companies, Minister Teten Masduki said on Wednesday.

Southeast Asia - Fri, March 29, 2024 | 10:29 am GMT+7

More sitting, retired officials detained for taking bribes linked to Phuc Son Group scandal

More sitting, retired officials detained for taking bribes linked to Phuc Son Group scandal

Le Viet Chu, former Party chief of Quang Ngai province, has been arrested for receiving bribes from a real estate firm that was bidding for an expressway contract in the locality a decade ago.

Society - Fri, March 29, 2024 | 10:02 am GMT+7

Vietnam economy grows 5.66% in Q1/2024, highest in 5 years

Vietnam economy grows 5.66% in Q1/2024, highest in 5 years

Vietnam has recorded GDP growth of 5.66% in the first quarter of 2024, the highest figure for the same period since 2020, the General Statistics Office reported on Friday.

Economy - Fri, March 29, 2024 | 9:35 am GMT+7

India eyes strengthening relations with ASEAN: Foreign Minister

India eyes strengthening relations with ASEAN: Foreign Minister

External Affairs Minister of India S. Jaishankar on Wednesday expressed India’s intention to strengthen India-ASEAN relations, especially under Malaysia’s chairmanship of ASEAN next year when he paid a courtesy call to Malaysian Prime Minister Datuk Seri Anwar Ibrahim.

Southeast Asia - Fri, March 29, 2024 | 8:01 am GMT+7

Thailand, South Korea agree to launch trade talks

Thailand, South Korea agree to launch trade talks

South Korea's Ministry of Trade, Industry and Energy (MOTIE) on Wednesday announced that it has agreed with Thailand to kick off negotiations on a comprehensive economic partnership, as the North Asian country aims to expand its presence in the Southeast Asian region.

Southeast Asia - Fri, March 29, 2024 | 7:59 am GMT+7

Int’l agencies outline transition pathways for Vietnam’s coal-fired power plants

Int’l agencies outline transition pathways for Vietnam’s coal-fired power plants

International organizations and financiers have gathered in Hanoi to discuss transition options for a number of coal-fired power plants in Vietnam as the country is moving to meet its net-zero emissions target by 2050.

Energy - Fri, March 29, 2024 | 7:05 am GMT+7

Northern Vietnam province seeks power plant fuel shift from coal to LNG

Northern Vietnam province seeks power plant fuel shift from coal to LNG

Nam Dinh province is seeking approval to have its $2.2 billion Nam Dinh 1 power plant, currently a build-operate-transfer (BOT) project, shift to using LNG instead of coal as its fuel.

Energy - Thu, March 28, 2024 | 10:25 pm GMT+7