Sembcorp joint venture explores building sustainable industrial parks in 9 Vietnam provinces

THE Vietnam Singapore Industrial Park (VSIP), a joint venture between Sembcorp Industries and Vietnam’s Becamex IDC Corp, will work on feasibility studies for smart and sustainable industrial parks in nine Vietnamese provinces.

VSIP signed a memorandum of understanding (MOU) with province leaders at a ceremony in Binh Duong Province on Saturday (March 26).

Projects that are feasible will progress to a cooperation agreement, and are subject to the award of the investment registration certificate from the central government, said Sembcorp.

The company and its long-standing partner Becamex IDC has an MOU to establish five Vietnam Singapore Industrial Parks in Vietnam valued at about US$1 billion. The MOU was announced on Feb 10, during Vietnam Prime Minister Pham Minh Chinh’s state visit to Singapore.

The collaboration between VSIP and the provinces seek to enhance socio-economic development through higher value manufacturing, job creation and the development of new urban areas to support growing communities.

The nine provinces are located throughout the country – Binh Phuoc, Tay Ninh and Binh Thuan in the south; Khanh Hoa and Thua Thien Hue in central Vietnam; Ha Tinh and Thanh Hoa in the north-central region; and Thai Binh and Nam Dinh in the north.

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Sembcorp shares last closed at S$4.24 on Friday, up S$0.06 or 1.44 per cent.