Authorities in Tra Vinh province of have agreed with their Binh Duong counterparts on building a Vietnam-Singapore Industrial Park, with three of its kind already formed in the country.
The VSIP in central Quang Ngai province (Photo: VNA)
Authorities in the Mekong Delta province of Tra Vinh have agreed with their Binh Duong counterparts on building a Vietnam-Singapore Industrial Park, with three of its kind already formed in the country.
Speaking at a meeting between the two province’s officials last week, a spokesman of the Tra Vinh People's Committee said the park will seek to develop Tra Vinh into a centre for processing farm and forestry produce and aquaculture and one that consume these materials produced by the delta's 13 provinces.
The VSIP model, which has been embraced by many localities across the country, has helped attract investments, he said.
The VSIP, built by a joint venture between Singaporean Sembcorp Development and Vietnamese developer Becamex IDC, was first built in Binh Duong and then Nghe An and Quang Ngai provinces.
Nguyen Van Hung, President of Becamex, told Tra Vinh officials about his company's experience in signing deals with Singaporean partners, building VSIP in other provinces, and what Tra Vinh should do when building a similar.
The three VSIPs have managed to attract a lot of foreign direct investment, he added.-VNA
During his lifetime, former Singaporean Prime Minister Lee Kuan Yew was especially concerned about the implementation of the Vietnam-Singapore Industrial Park (VSIP) – which has later become a symbol of friendship and cooperation between the two countries.
Singapore has poured over 33 billion USD into numerous projects in Vietnam in processing technology, manufacturing, real estate, education and entertainment.
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The VSIP in central Quang Ngai province (Photo: VNA)
