VSIP Signs MOUs with Nine Provinces in Vietnam to Develop Smart and Sustainable Industrial Parks

Vietnam, Mar 25, 2023

Sembcorp Industries announces that its joint venture company with Becamex IDC Corporation, Vietnam Singapore Industrial Park J.V. Co. (VSIP), has today signed Memoranda of Understanding (MOUs) with the leaders of nine provinces of Vietnam at a ceremony in Binh Duong Province, Vietnam.

The signings today are an expansion of the MOU between Becamex and Sembcorp Development, announced on 10 February 2023 during the Vietnam Prime Minister Mr Pham Minh Chinh’s state visit to Singapore.

VSIP and the participating provinces will jointly engage in feasibility studies for smart and sustainable industrial parks. The collaborations seek to enhance the socio-economic development of these provinces through higher value manufacturing, job creation and development of new urban areas to support the 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; Ha Tinh and Thanh Hoa in north-central; and Thai Binh and Nam Dinh in the north. 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.

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