The Singapore-based Mapletree company held a ground-breaking ceremony for a new international logistics park at Vietnam-Singapore Industrial Park (VSIP) in the northern province Bac Ninh on Sept. 23.
The Singapore-based Mapletree company held a ground-breaking ceremonyfor a new international logistics park at Vietnam-Singapore IndustrialPark (VSIP) in the northern province Bac Ninh on Sept. 23.
Once completed, the 140 million USD Mapletree-Bac Ninh logistics parkwill provide 310,000 sq.m for warehousing to meet the company’s demand.
At the ground-breaking ceremony, Mapletree ChiefInvestment Officer Chua Tiow Chye said Vietnam was an attractiveinvestment destination to Mapletree as it was an important market inAsia.
The Mapletree Bac Ninh project is part of the company’s strategy to expand business and investment in northern Vietnam.
Mapletree started its investment in Vietnam in 2005 with a 23,000 sq.mlogistics park in VSIP I in the southern province of Binh Duong.
The company has developed two new projects in Binh Duong province – a68-ha logistics park in VSIP II and a 75-ha hi-tech industrial complexarea.
The operation of Mapletree Bac Ninh project will offergood service for VSIP Bac Ninh and other IPs in the province, creatingan attractive and synchronous investment environment in the province,according to Deputy Head of Bac Ninh IP management board Bui Hoang Mai.
Bac Ninh IPs have so far licensed 435 projects, including 189 foreign-invested, worth 3.3 billion USD in total, Mai said./.
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