Authorities in the Mekong Delta city of Can Tho granted the investment certificate of the first phase of a US$149-million industrial park project to the Vietnam-Singapore Industrial Park (VSIP) Group at a ceremony on Tuesday afternoon.
The project, which got a greenlight from the central government earlier this month, will be VSIP’s 12th industrial park in Vietnam since its first one built in southeastern Binh Duong Province in 1996 and the first one in the Mekong Delta region.
It will be developed on 293.7 hectares of land in Can Tho’s Vinh Thanh District in phase 1 and is scheduled to be completed within 36 months from the date of land allocation.
The new industrial park, with its operation term of 50 years, is projected to cost more than VND3.7 trillion ($148.9 million), including around $23 million from the investor’s equity and the rest from mobilized sources.
Anthony Tan, deputy general director of VSIP, said during Tuesday’s ceremony that the project will be developed into a green, smart, and sustainable industrial park, contributing to growing Can Tho into a dynamic city in the Mekong Delta.
The VSIP Group is a brand developed by a joint venture between Vietnam’s Becamex IDC Corporation and Sembcorp Development, a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.
Among the current 11 Vietnam-Singapore industrial parks, three are in Binh Duong and the others are located in other localities such as Hai Phong, Hai Duong, Bac Ninh, Nghe An, Quang Ngai, and Binh Dinh.
These industrial parks, with a total area of more than 10,000 hectares, have attracted about $17 billion in investment from 880 investors from 30 countries and territories, and created jobs for around 295,000 workers.