Binh Phuoc province calls on VSIP to build industrial park

Nguyen Manh Cuong, chief of Binh Phuoc's Party Committee, made the statement during a Saturday visit to the VSIP in the central province of Nghe An.

"Binh Phuoc, with a focus on industrial development, aims to add 10 industrial parks and clusters to its current network of 13 units," said Cuong, also a Party Central Committee member.

The $280 million VSIP Nghe An 1 covers 750 hectares, including 367.6 hectares of industrial land and 382.4 hectares for urban areas, services, and housing. So far, the facility has attracted 42 projects covering 251.4 hectares, of which 37 have received investment certificates. The total registered capital of those projects reached $798 million, including 20 FDI projects worth $738.5 million.

Major investors in VSIP Nghe An 1 are Luxshare-ICT with $359 million, and Everwin with $200 million and a plan to raise the investment to $400 million, among others.

VSIP Nghe An in Nghe An province, central Vietnam. Photo courtesy of VSIP.

Currently, VSIP, a joint venture between Singapore’s Sembcorp Industries and Vietnam’s Becamex IDC, is preparing to invest $164.6 million to build VSIP Nghe An 2, covering 500 hectares.

VSIP facilities can attract $2 billion of investment into Nghe An province, said Teng Wei Hong, CEO of VSIP Nghe An Co., Ltd.

Binh Phuoc’s index of industrial production grew 6.02% year-on-year in the first four months of this year, driven by 6.1% of the manufacturing-processing sector, 4.05% of the mining sector, 3.84% of the electricity production and distribution sector, and others.

Source: The Investor