Việt Nam-Singapore Park No 2 to begin construction in Quảng Ngãi

Việt Nam-Singapore Park No 2 to begin construction in Quảng Ngãi

The Việt Nam-Singapore Industrial Park (VSIP) is going to start building a second park in the central province of Quảng Ngãi later this month, a positive move for investment following the introduction of the first park in 2013.

The Việt Nam-Singapore Industrial Park (VSIP) No 1 in Quảng Ngãi Province. The second VSIP has an investment of nearly US$152 million. VNS Photo Công Thành

The central provincial people’s committee said the VSIPII, which was approved by the Prime Minister in 2023, will be built on 500ha in the Dung Quất Economic Zone, with an investment of VNĐ3.8 trillion (US$152 million).

The VSIPII would complete infrastructure within 60 months and create 49,000 jobs for local people, aiming to be a favourite rendezvous for foreign direct investment projects as well as domestic businesses.

It said the VSIP Quảng Ngãi No 1, which was built on 600ha of land in the Dung Quất Economic Zone and 520ha of adjacent urban land with an investment capital of $337.8 million in 2013, had drawn $1.5 billion from 44 FDI investors and created 30,000 jobs.

A report from VSIP unveiled that 14 typical Việt Nam-Singapore industrial parks have been built across ten provinces and cites in Việt Nam, including three in Bình Dương, Lạng Sơn, Hải Dương, Hải Phòng, Nghệ An, Quảng Trị, Bình Định, Cần Thơ, two parks in Bắc Ninh and two others in Quảng Ngãi.

VISP models have proved attractive to 866 projects with a total capital of $18.17 billion.

The central province also reported that the Dung Quất Economic Zone, with five industrial zones and 45 industrial complexes,  is home to 349 projects with an investment of $18.37 billion.

Bizhub