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Vietnam-Singapore IP project gets off the ground in Vietnam’s Mekong Delta

Vietnam-Singapore IP project gets off the ground in Vietnam’s Mekong Delta

Sunday, September 10, 2023, 10:03 GMT+7
Vietnam-Singapore IP project gets off the ground in Vietnam’s Mekong Delta
The administration of Can Tho City, located in Vietnam’s Mekong Delta region, hands over memoranda of understanding on investment between the VSIP and potential clients, September 9, 2023. Photo: Thanh That / Tuoi Tre

Work on the Vietnam-Singapore Industrial Park (VSIP) project in Can Tho City, located in Vietnam’s Mekong Delta region, started on Saturday, making it the first VSIP to be built in the delta.

The VSIP Can Tho project will span 900 hectares of land in the outlying district of Vinh Thanh, with its investor being Vietnam - Singapore Industrial Park J.V. Co. (VSIP).

VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of southern Binh Duong Province, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.

Its phase one will cover more than 293 hectares and carry a price tag of over VND3.717 trillion (US$154.4 million).

Once completed, it will provide employment for around 20,000-30,000 workers.

The industrial park is expected to become a major food processing and distribution center in the southern region.

The VSIP Can Tho project is the first of its kind to be built in the Mekong Delta region. Photo: Le Dan / Tuoi Tre

The VSIP Can Tho project is the first of its kind to be built in Vietnam's Mekong Delta region. Photo: Le Dan / Tuoi Tre

Speaking at the ground-breaking ceremony, Tran Viet Thuong, chairman of the Can Tho People’s Committee, said the city pledged to create optimal conditions for both domestic and foreign investors to set up and run their businesses there.

According to Nguyen Thi Bich Ngoc, Deputy Minister of Planning and Investment, VSIP has developed 14 industrial parks covering some 8,000 hectares in 19 provinces and cities nationwide, with a total investment of nearly $2 billion.

The VSIPs have contributed to Vietnam's efforts to attract more investors and create jobs for local people.

The VSIP Can Tho, after being put into service, will pave the way for the city to grow further and woo more investors to neighboring localities in the delta, Ngoc said.

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Hong Ngan - Le Dan / Tuoi Tre News

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