VSIP plans $211 mln industrial park in Thai Binh province

Vietnam-Singapore Industrial Park (VSIP), a leading industrial park developer in Vietnam, is awaiting environmental approval for a facility in the northern province of Thai Binh, as the firm seeks to tap high lease demand driven by robust foreign investment.

According to a report sent to the Ministry of Natural Resources and Environment, the $211.87 million industrial park (IP) is slated to span 344.67 hectares in An Tan and Thuy Truong communes, Thai Thuy district.

Once operational, the developer aims to attract investors in the fields of manufacturing, processing, and industrial services, with a focus on high technology, supporting industries, new materials, farm produce and seafood processing, as well as industries that have high added value and are energy efficient and environmentally friendly.

The facility, located in the Thai Binh Economic Zone, is 10 km from Diem Dien port, 40 km from Dinh Vu seaport in Hai Phong city, and 50 km from Cat Bi International Airport, also in Hai Phong.

Regarding schedule, the developer aims to have the environmental impact assessment and feasibility reports approved by the end of this year. It has yet to detail the implementation of the project or the inauguration of the IP.

VSIP, a joint venture between Vietnam’s Investment and Industrial Development Corporation (Becamex IDC) and Singapore’s Sembcorp, has developed 12 IPs across Vietnam, mostly in key industrial hubs.

Sembcorp Industries late last month announced that it had secured investment licenses for another three IPs: one in Thai Binh province, the 498-hectare VSIP Quang Ngai II in the central province of Quang Ngai, and the 468-hectare Becamex-VSIP Binh Thuan in the central province of Binh Thuan.

Thai Binh is home to 10 IPs, with four in the Thai Binh Economic Zone, and 49 industrial clusters. Under a government-approved master plan, the province is slated to become one of the industrial centers of the Red River Delta.