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Gov't approves Viet Nam-Singapore Industrial Park project in Lang Son

VGP - The Government has approved a plan to build Viet Nam-Singapore Industrial Industrial Park (VSIP) in the northern mountainous province of Lang Son.

May 16, 2023 9:52 AM GMT+7
Government approves Lang Son-based VSIP project - Ảnh 1.

Illustration photo

The industrial park covers a total area of 599.76 hectares in Ho Son and Hoa Thang communes in Huu Lung district.

The project has total investment of over VND 6.36 trillion (US$274.7 million), of which VND 954 billion will be contributed by VSIP Group.

The project's operating period is 50 years, starting from May 15, 2023.

In August 2022, VSIP Group, a leading industrial park and township developer in Viet Nam, signed a memorandum of understanding with Lang Son province for the construction of the facility, also known as Huu Lung Industrial Park.

The project features 428 hectares for factories and warehouses, 10 hectares for technical facilities, seven hectares for administrative purposes, 86 hectares for traffic infrastructure, and 69 hectares for forestation.

VSIP Group, a joint venture between Sembcorp Development and Becamex IDC, has developed 12 industrial parks to date. The IPs are located in Bac Ninh, Hai Phong and Hai Duong in the north; Nghe An, Quang Tri and Quang Ngai in the central region; and Binh Duong and Can Tho in the south.

Last October, Sembcorp received an investment license to develop a 293.7-hectare industrial park in Can Tho city, its first in Viet Nam's Mekong Delta.

In January, Sembcorp announced it would build the third VSIP in Binh Duong province as a zero-emissions industrial park, the first of its kind in Viet Nam./.