From farmland to factory floor: Vietnam-Singapore industrial parks gear up for next chapter
Thirty years on, the facilities under the joint venture are moving from labour-intensive growth to high-tech, green goals
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[HO CHI MINH CITY] On a humid stretch of farmland 17 kilometres north of Ho Chi Minh City, Vietnamese and Singaporean officials gathered in 1996 to launch what was then an untested idea in Vietnam: a jointly run industrial park designed to attract foreign manufacturers to the newly opened economy.
The first facility under the Vietnam-Singapore Industrial Park (VSIP) initiative began with just 500 hectares (ha) – modest in scale, but ambitious in intent.
In 1995, Vietnam had normalised diplomatic ties with the US, formally ending decades of hostility with the world’s largest economy.
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