Companies poised to benefit from 3 new Vietnam-S’pore industrial parks, with 10 others in pipeline

📆 8/29/2023 1:12 PM
📰 straits_times

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The parks, first set up in 1996, are a key part of Singapore’s economic link with Vietnam. Read more at straitstimes.com.

HANOI - Companies in Singapore and Vietnam are poised to reap more benefits from a steady increase in the number of Vietnam-Singapore Industrial Parks , with Sembcorp Development announcing the addition of four new ones to its portfolio.

“It is my hope that the VSIP projects continue to contribute and stay relevant to Vietnam’s economic development and its industrial transformation.” The companies also received Mr Chinh’s in-principle approvals to develop new VSIPs in northern Vietnam’s Thai Binh province, Binh Thuan province near Ho Chi Minh City in the south, and Ha Tinh province in north-central Vietnam.Leaders of 10 provinces will also work with Sembcorp and Becamex to jointly engage in feasibility studies for more VSIPs.

Sembcorp Industries group president and chief executive Wong Kim Yin said the plan is for the new generation of VSIPs to be smart and sustainable.

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Singapore and Vietnam to discuss further business opportunitiesSingapore and Vietnam leaders will discuss further business opportunities, with collaborative industrial parks set to play a key part. Singapore’s Prime Minister Lee Hsien Loong arrived in Hanoi on Sunday (Aug 27) and official talks will begin on Monday. Sherlyn Seah reports.
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