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VSIP expands industrial park development in Vietnam
The new VSIP projects will be developed as green industrial parks incorporating advanced technologies and environmentally friendly solutions.
Vietnam’s Becamex IDC Corporation and Singapore’s Sembcorp Development have signed four memoranda of understanding (MoUs) to further expand the Vietnam – Singapore Industrial Park (VSIP) network – in Hung Yen, Hai Phong, and Hai Duong in the North and Binh Duong in the South.
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Prime Minister Pham Minh Chinh, his Singaporean counterpart Lawrence Wong and other delegates at the signing ceremony of MoUs on expanding VSIP network in Vietnam. |
At the same time, construction has officially begun on the 333-hectare VSIP project in northern Thai Binh province, marking a new stride in the development of this industrial park model in Vietnam.
Since the launch of the first VSIP in Binh Duong in 1996, the partnership between Becamex IDC and Sembcorp Development has become a symbol of success in foreign investment attraction and industrial development.
Today, Vietnam hosts 20 VSIP projects nationwide, covering 12,000 hectares and attracting over 1,000 enterprises from 30 countries and territories, with a total investment of 23.4 billion USD.
Pham Ngoc Thuan, General Director of Becamex IDC, highlighted that the VSIP expansion aims not only to provide industrial space but also to create a comprehensive ecosystem integrating urban areas, commercial services, and amenities.
This approach helps improve the living and working environment, making it easier to attract talent and improve the workforce quality.
He emphasised that the new VSIP projects will be developed as green industrial parks incorporating advanced technologies and environmentally friendly solutions, supporting Binh Duong’s ambition to become an advanced manufacturing hub in Southeast Asia.
VSIPs continue to attract major global investors, with one standout project being the LEGO Group's factory worth 1.3 billion USD in VSIP 3 in Binh Duong.
During a March 25 meeting with Secretary of the provincial Party Committee Nguyen Van Loi, Jesper Hassellund Mikkelsen, General Director of LEGO Manufacturing Vietnam, confirmed that the factory construction is in its final stage and is set to commence operations in April.
This will be LEGO’s first carbon-neutral factory in the world, powered entirely by renewable energy through solar panels and the energy storage system.
He noted the plant is currently running on a trial basis, training personnel, and carrying out small-scaled production before being officially put into use.
Once fully operational, it will distribute products across Southeast Asia, helping expand LEGO’s supply chain and promote green manufacturing in Vietnam.
Holding a strategic position in Vietnam's industrial ecosystem, VSIPs not only provide comprehensive infrastructure but also play a crucial role in drawing high-tech manufacturers, especially in such fields as electronics, precision mechanics, and renewable energy.
The expansion of this model in northern and southern localities of Vietnam shows VSIPs remain ideal destinations for international investors.
The success of VSIPs is also believed to demonstrate the effectiveness of economic cooperation between Vietnam and Singapore and contributes to Vietnam's competitiveness in the world.
The eco-industrial park (EIP) model is emerging as a key driver of Vietnam’s industrial and economic development. This approach not only delivers economic benefits to businesses and communities but also plays a crucial role in environmental protection and enhancing workers' quality of life.
BAC GIANG - The Chairman of the People's Committee of Bac Giang province Nguyen Viet Oanh has recently chaired a conference to grant Investment Registration Certificates to investors of 4 industrial parks of Nghia Hung, My Thai, Song Mai - Nghia Trung, Dong Phuc.
BAC GIANG - On February 11, the Prime Minister issued Decision No. 260/QD-TTg on the investment policy for the project to invest in construction and business of infrastructure of My Thai Industrial Park in Bac Giang province.
BAC GIANG - On February 10, Deputy Prime Minister Tran Hong Ha signed Decision No. 258/QD-TTg on the investment policy for the project to invest in infrastructure of Dong Phuc Industrial Park in Bac Giang province.
By 2030, about 40-50% of provinces and cities are expected to convert traditional industrial parks into eco-industrial parks, and 8-10% of localities will have plans to build new eco-industrial parks to plan and attract investment industries gradually.
BAC GIANG – To create trust and comfortability for enterprises investing in Bac Giang province, the Provincial Industrial Parks Management Board has regularly coordinated with the Provincial Public Security, People's Committees of districts, townships and city with industrial parks to grasp, guide, and support companies to remove difficulties and obstacles during operation, helping ensure the security and order, labor safety in industrial parks.
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