Singapore to promote investment in industrial zones in Vietnam

1 May
VNRE – Singapore has been approved to build the No. 5 industrial zone in Vietnam, with total investment capital is 330 million U.S. dollars.

Expected that this industrial zone will be built on an area of 600 hectares in Quang Ngai province in Central of Vietnam, including 520 hectares for commercial purposes and housing.

Singapore’s Sembcorp will development, marketing and manage the project. So far, there have been 30-40 partners interested in this project, representatives of Semcorp said.

Phase 1 of the project will last approximately 3 years, and is expected in that period will also have the first plant is established and profitable here.

Recently, during an official visit to Vietnam, Singapore President Tony Tan Keng Yam met with leaders of Vietnam government and leaders of Vietnam’s largest city. President Tan said Singapore wants to invest more into Vietnam, and he said he would note the proposal to open two industrial zones in Hanoi and Ho Chi Minh.

So far, four industrial zones were invested by Singapore has been operating in Vietnam include: VSIP 1 and VSIP 2 (Binh Duong), VSIP 3 (Bac Ninh), VSIP 4 (Hai Phong). The total investment estimated at more than 20 billion U.S. dollars.

Source: VNA

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