Hai Duong, Singaporean company ink deal on industrial park infrastructure development

Hai Duong province and Vietnam-Singapore Industrial Park (VSIP) JSC. signed a memorandum of cooperation (MoC) on the development of industrial park (IP) infrastructure in Ha Noi on August 29.

Prime Minister Pham Minh Chinh and his Singaporean counterpart Lee Hsien Loong attended the signing ceremony, inked by Vice Chairman of the provincial People’s Committee Tran Van Quan and Standing Vice Chairman of VSIP Group Huynh Quang Hai, as part of a conference on speeding up Vietnam-Singapore joint projects.

Under the MoC, VSIP JSC. will survey planning, invest in, and develop smart, modern, and eco-friendly IPs in the province to create a breakthrough in high value-added industrial development.

The province aims to attract processing, manufacturing, and hi-tech projects with high added value to deeply engage in the global value chain without intensive use of labor and resources.

This is one of 12 new VSIP projects under a cooperation agreement between Vietnam and Singapore announced at the conference.

Besides the one in Hai Duong, the others will be carried out in Hai Phong, Nam Dinh, Khanh Hoa, Ninh Binh, Tay Ninh, Thanh Hoa, Ha Tinh, Thua Thien Hue, Binh Phuoc, and Quang Ngai.

Singapore is running 14 projects in Hai Duong with a total investment of 171 million USD.

VSIP Hai Duong Co., Ltd. is the investor of Cam Dien – Luong Dien IP, established on an area of 149.23 ha in the province in 2018.

The IP has so far lured more than 30 projects with the occupancy rate reaching nearly 100%.

Hai Duong News - VGP