VSIP- sustainable investment cooperation model

Vietnamese PM Nguyen Tan Dung and his visiting Singaporean counterpart Lee Hsien Loong on September 13 will attend a groundbreaking of the fifth VSIP in Viet Nam in central Quang Ngai Province.

The first VSIP was established in 1996 following an initiative of the late PM Vo Van Kiet. The VSIP has been built and developed into an industrial park serving working, living and entertaining purposes.

Until now, the four VSIPs, two in southern Binh Duong Province, one in northern Bac Ninh Province and one in northern Hai Phong city, are operating in the fields of industry, urban centers and services.

The two VSIPs in Binh Duong Province have drawn in a total registered capital of US$4.7 billion from 425 investors from 22 territories and countries. 

The first VSIP, which is fully rented, has created jobs for 96,367 people. The second, with 98% of its area covered, has provided jobs for 26,043 workers.

The VSIP in Bac Ninh Province is home to electronic factories, and those engaged in medicines, accessories, mechanics and logistics. As much as US$900 million have been poured in this industrial park from 46 investors including Pepsi Co and Nokia.

Around 17 businesses have committed to investing the VSIP in Hai Phong City. Japan’s Kyocera Mita Group built a factory in 2011, and has just put it into operation.

Licensed on April 23, 2012, VSIP in Quang Ngai was built on a land area of 1,746 ha and will be invested US$125.35 million in the first phase.

After 17 years of development, VSIPs have contributed to Viet Nam’s economy and its reinforced status as a sustainable investment destination in the region.

By Thuy Dung