Construction on Thai Binh province's VSIP industrial park to start early next year
Investors are set to begin construction of a Vietnam-Singapore Industrial Park (VSIP) in northern Vietnam's Thai Binh province in spring 2024.
A statement to this effect was made by the Thai Binh Economic Zone at a project progress review meeting held late last week.
The $212-million VSIP Thai Binh will cover 333.4 hectares in Thai Thuy district. The project is now processing procedures related to fire prevention, environment protection, site clearance and several others aspects, the provincial industrial zones authority said.
Edmund Chong, director general of Vietnam Singapore Industrial Park and Township Development JSC, said at the meeting that the firm has prepared resources and a deployment plan and called on the provincial authorities to help speed up relevant procedures.
Edmund Chong (standing), director general of Vietnam Singapore Industrial Park and Township Development JSC, speaks at a meeting with Thai Binh authorities in the northern province, September 15, 2023. Photo courtesy of Thai Binh's news portal.
Thai Binh Chairman Nguyen Khac Than emphasized that VSIP Thai Binh was a priority project and asked the province’s industrial park management agency to attract high-quality projects for the facility.
Vietnam’s first VSIP was set up in the southern province of Binh Duong in 1996 during the administration of then Singaporean Prime Minister Lee Kuan Yew, late father of incumbent Prime Minister Lee Hsien Loong.
It was developed by the VSIP Group, a joint venture between Singaporean conglomerate Sembcorp Industries and Binh Duong-based industrial developer Becamex IDC.
Vietnam is now home to 13 VSIPs, with work on VSIP Can Tho, also called the Vinh Thanh Industrial Park, beginning on September 9.
So far, VSIP has supplied industrial real estate to 880 customers from 30 countries and territories, with a total registered investment of $18.7 billion and direct employment for 300,000 people.
- Related News
- Read More
ASEAN chief proposes measures to foster comprehensive strategic partnership with China
Secretary-General of the Association of Southeast Asian Nations (ASEAN) Kao Kim Hourn has suggested measures to enhance ASEAN-China comprehensive strategic partnership to create greater benefits to the people of bloc member countries and China.
Southeast Asia - Thu, June 27, 2024 | 11:36 pm GMT+7
Vietnam plans 3 railway links with China under Belt and Road Initiative
Vietnam is considering three railway routes linking with China under the Belt and Road Initiative (BRI) and the “Two Corridors, One Belt” initiative, Prime Minister Pham Minh Chinh said Thursday.
Economy - Thu, June 27, 2024 | 7:36 pm GMT+7
Google, Gulf cooperate to run cloud operations in Thailand
Google Asia Pacific Ltd (Google) and Gulf Energy Development Plc (Gulf) have teamed up to run cloud operations in Thailand, thereby opening doors to future cooperation in cybersecurity and artificial intelligence (AI).
Southeast Asia - Thu, June 27, 2024 | 4:47 pm GMT+7
Singapore seizes over $4 bln linked to crime since 2019
Singapore reported on Wednesday that it has seized 6 billion SGD ($4.4 billion) linked to crime and money laundering since 2019.
Southeast Asia - Thu, June 27, 2024 | 4:45 pm GMT+7
Southeast Asian aviation market bounces back
Bouncing back from losses during the Covid-19 pandemic, Southeast Asian airlines are signing big aircraft purchase contracts in a race to meet increasing travel needs.
Southeast Asia - Thu, June 27, 2024 | 4:44 pm GMT+7
Continued strong earnings to sustain Vietnam equity market uptrend: HSBC
Vietnam’s equity market uptrend can be sustained if earnings remain strong, says James Cheo, chief investment officer for Southeast Asia and India at HSBC Global Private Banking and Wealth.
Economy - Thu, June 27, 2024 | 4:43 pm GMT+7
Vietnam persists with controversial zero-tolerance policy against drunk driving
Vietnam’s National Assembly passed the Law on Road Traffic Safety and Order with 79.84% of the votes Thursday, continuing a zero-tolerance policy against drunk driving that has generated some controversy.
Economy - Thu, June 27, 2024 | 3:55 pm GMT+7
Vietnam ideal new manufacturing base for Taiwan semiconductor firm TSMC: Amata exec
Vietnam will be an ideal location if Taiwan Semiconductor Manufacturing Company (TSMC) plans to establish a new manufacturing base amidst ongoing US-China tensions, said an Amata executive.
Industries - Thu, June 27, 2024 | 3:41 pm GMT+7
'Middlescents' spending outpaces other generations in Vietnam: Visa
"Middlescents", those born between 1965 and 1980 and making up over 31% of the world's population, are outpacing other generations in spending, according to recent research by Visa and Kantar.
Economy - Thu, June 27, 2024 | 1:56 pm GMT+7
Vietnam central bank sells $5.5 bln to protect local currency
The Vietnamese central bank has sold a total of $5.5 billion worth of foreign currency since late April in a move to keep the dong devaluation in a controllable range, according to data from Ho Chi Minh City-based private bank ACB.
Banking - Thu, June 27, 2024 | 11:56 am GMT+7
Thailand’s Central Retail begins building mall in northern Vietnam province
Leading Thai retailer Central Retail kicked off the construction of a mall under the GO! brand in the northern province of Hung Yen on Wednesday, the company's 43rd facility in Vietnam.
Industries - Thu, June 27, 2024 | 11:03 am GMT+7
Vietnam needs new wave of reforms: IMF
Vietnam needs a new wave of reforms to sustain high economic growth over the medium term amidst demographic and climate headwinds, said the International Monetary Fund (IMF).
Economy - Thu, June 27, 2024 | 10:06 am GMT+7
'Tunnel king' Deo Ca makes five-year roadmap for listing, double capital base by 2025
Deo Ca Group JSC, also known as the “tunnel king” for its leading position in Vietnam’s transport construction sector, has devised a five-year roadmap for going public and will proceed at an appropriate time, said an executive.
Companies - Thu, June 27, 2024 | 9:18 am GMT+7
Chinese projector maker XGIMI to invest $13 mln in northern Vietnam
XGIMI, a China-based projector manufacturer, has received an investment registration certificate to invest $13 million in Vietnam’s northern province of Nam Dinh.
Industries - Thu, June 27, 2024 | 8:06 am GMT+7
India-Vietnam commercial ties yet to match potential: consul general
India-Vietnam trade and investment ties have grown rapidly in the last two decades, but they have not yet matched their potential, given the market size of both nations.
Industries - Wed, June 26, 2024 | 9:44 pm GMT+7
Malaysia eyes 25.5% GDP contribution from digital economy by late 2025
The digital economy is projected to contribute 25.5% to Malaysia’s GDP by the end of next year, up from the current 23%, according to the country’s Digital Minister Gobind Singh Deo.
Southeast Asia - Wed, June 26, 2024 | 9:21 pm GMT+7
