Sembcorp and Becamex expand VSIP portfolio

Sembcorp and Becamex expand VSIP portfolio

Sembcorp Development and its joint venture partner Becamex IDC are expanding their portfolio of Vietnam Singapore Industrial Park (VSIP) projects, taking the total to 20.

On March 12, construction started on VSIP II Quang Ngai Industrial Park in the central province of Quang Ngai. The park is located in Dung Quat Economic Zone, covering a total area of ​​498 hectares. It has a total investment approximating $152 million and an operational period of 50 years.

Speaking at the groundbreaking ceremony, Deputy Prime Minister Nguyen Hoa Binh requested the project’s developers Sembcorp and Becamex to continue promoting the effectiveness of the industrial park, urban, and service model, while orienting the development of VSIP II Quang Ngai towards a smart, modern, and sustainable facility.

This should form a compelling industrial-innovation-urban-services-high-tech ecosystem, while ensuring that the industrialisation process is in line with the harmonious development of the community, forming an infrastructure and knowledge-based economy for the locality.

In addition, Sembcorp and Becamex have been awarded two new VSIP projects, bringing the total to 20.The new projects, VSIP Nam Dinh and VSIP Nghe An III, were awarded during the state visit of Party General Secretary To Lam to Singapore from March 11 to 13. At a ceremony held at Parliament House on March 12, Party General Secretary To Lam was joined by Lawrence Wong, Prime Minister of Singapore, as well as ministers and provincial leaders from Singapore and Vietnam.

VSIP Nam Dinh is a new 180-ha development in the fast-growing northern part of the country that is home to several large electronics, machinery, and automotive companies, as well as their supply chains.

VSIP Nghe An III will also cover 180ha. The two previous VSIP Nghe An projects have attracted top global manufacturers in electronics, precision engineering, and garments and textiles, helping Nghe An secure its place in the country’s top 10 destinations for foreign investment a third time.

Both VSIPs will be developed according to the principles of low-carbon industrial parks. In addition, Sembcorp and Becamex will explore the development of a first VSIP in Ha Nam province.

VSIP Nam Dinh and VSIP Nghe An III will complement the current 18 VSIPs, which have assisted more than 1,000 manufacturers in establishing their operations in strategic locations across the country. In the past year, demand for land in VSIPs has risen, driven by high value-added electronics components manufacturers and precision engineering companies.

VIR