Sembcorp JV explores building sustainable industrial parks in nine Vietnam provinces

The collaboration between Vietnam Singapore Industrial Park and the provinces seek to enhance socio-economic development and support growing communities. - The Straits Times/ANN

HANOI/SINGAPORE, April 2 (The Straits Times/ANN): The Vietnam Singapore Industrial Park (VSIP), a joint venture (JV) between Sembcorp Industries and Vietnam’s Becamex IDC, will work on feasibility studies for smart and sustainable industrial parks in nine Vietnamese provinces.

VSIP signed a memorandum of understanding (MOU) with province leaders at a ceremony in Binh Duong Province last week.

Projects that are feasible will progress to a cooperation agreement and are subject to the award of the investment registration certificate from the central government, said Sembcorp.

The company and its longstanding partner Becamex IDC already has an MOU to establish five VSIPs in Vietnam valued at about US$1 billion (S$1.3 billion).

The MOU was announced on Feb 10, during Vietnam Prime Minister Pham Minh Chinh’s state visit to Singapore.

The collaboration between VSIP and the provinces seeks to enhance socio-economic development through higher-value manufacturing, job creation and the development of new urban areas to support growing communities.

The nine provinces are located throughout the country – Binh Phuoc, Tay Ninh and Binh Thuan in the south; Khanh Hoa and Thua Thien Hue in central Vietnam; Ha Tinh and Thanh Hoa in the north-central region; and Thai Binh and Nam Dinh in the north. - The Straits Times/ANN

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Vietnam , Sembcorp , Industrial Park


Next In Aseanplus News

Indonesia scraps ban on sea sand exports and it is a big boon for Singapore
For this nifty, fat Shifty anything is paw-sible - even a fall six-storey high in Thailand
Singapore President Halimah Yacob says she will not run for second term in upcoming election
Philippines, US and Japan to hold first-ever joint coast guard exercise
Ringgit ends lower versus greenback on oil price decline, expectation of US rate hike
Vietnam's foreign direct investment falls 7 per cent in Jan-May
Police kill tribal people in India’s border state with Myanmar
Malaysia detains Chinese ship linked to suspected illegal salvage of British WW2 wrecks
Nepal celebrates 70 years since first Everest summit
Cricket-ICC leaders in Pakistan to secure World Cup participation

Others Also Read