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Nokia to Locate New Factory in VSIP Bac Ninh Integrated Township and Industrial Park

March 29, 2011

- Issued by Vietnam Singapore Industrial Parks

Nokia, the world’s number one manufacturer of mobile devices has signed a Letter of Offer to enter into a long-term lease agreement with the VSIP Bac Ninh Co. Ltd to locate its new manufacturing facility in the VSIP Bac Ninh Integrated Township and Industrial Park.

The plant in VSIP Bac Ninh is Nokia’s first in South East Asia Pacific. Nokia currently operates 10 manufacturing facilities in 9 countries around the world. This investment adds an 11th manufacturing site to Nokia’s global manufacturing network. Nokia will invest about EUR 200 million or US$280million initially with further investments planned thereafter.

“Nokia’s mobile devices were first launched in Vietnam in 1996 and today Nokia is among the top 10 preferred brands in Vietnam. This new manufacturing site will play a key role in our effort to connect the next billion to the web. To that end, VSIP emerged as our partner of choice due to the team’s experience and track record in managing successful parks. The Bac Ninh industrial park has a comprehensive infrastructure with a full suite of facilities and services that is critical in helping us create a work environment that will be conducive and safe for the thousands of employees that will be working in the factory. ” said Ivan Herd, designated General Director for the facility.

Nokia will occupy 17 hectares in the VSIP Bac Ninh, which is located 20 kilometers from the capital city Hanoi. The plant will be operational in early 2012.

The 700-hectare VSIP Bac Ninh is the third installment of the successful Vietnam Singapore Industrial Park (VSIP), which is a joint venture between a consortium of Vietnamese companies and Singapore’s Sembcorp Industrial Parks. Nokia joins more than thirty other international tenants in the VSIP Bac Ninh.

Said Ms. Low Sin Leng the Co-Chairman of the VSIP Bac Ninh Co. and Executive Chairman of Sembcorp Industrial Parks, “The VSIP Bac Ninh is fast taking shape. In the initial years after its groundbreaking in December 2007, the global financial crisis impacted us as foreign direct investments had slowed significantly. However, VSIP decided to continue with land preparation for future customers despite the risky global environment. I am very pleased that our perseverance has paid off. With the global economy gradually improving, customers are choosing VSIP Bac Ninh as the preferred choice to base their operations.”

The VSIP Bac Ninh is masterplanned by Sembcorp’s architects and designed for work-live-play integrating the industrial park zone with commercial and residential amenities. One of the highlights of the VSIP Bac Ninh is its on-site logistics hub by Mapletree Investments Pte Ltd. The initial phase of the 55-hectare logistics hub will begin  operations in the second quarter of this year. It will incorporate both bonded and non-bonded built-to-suit and multi-tenanted warehouse facilities. Such a comprehensively planned logistics hub serves the needs of large global companies based in Bac Ninh who are attracted to the northern Vietnam-southern China markets.

– END –

About Vietnam Singapore Industrial Park (VSIP)

The VSIP is commercially managed by Becamex IDC, a Vietnam state-owned enterprise, and SembcorpIndustrial Parks, a wholly-owned business unit of Singapore’s Sembcorp Industries. First established in 1996, the VSIP now consists of four integrated townships and industrial parks located in Binh Duong, Bac Ninh and Hai Phong City. The VSIP projects have attracted more than 400 companies and created over 85,000 jobs (from operational tenants), making it one of the most successful examples of Vietnam-Singapore joint collaborations.

About Nokia

At Nokia, we are committed to connecting people. We combine advanced technology with personalized services that enable people to stay close to what matters to them. Every day, more than 1.3 billion people connect to one another with a Nokia device – from mobile phones to advanced smartphones and high-performance mobile computers. Today, Nokia is integrating its devices with innovative services through Ovi (www.ovi.com), including music, maps, apps, email and more. Nokia's NAVTEQ is a leader in comprehensive digital mapping and navigation services, while Nokia Siemens Networks provides equipment, services and solutions for communications networks globally.

Media Enquiries, please contact:

Communications, Indochina
Ms Phan Cam LY
Tel. +84903727527
Email: [email protected]

Sembcorp Parks Management Pte Ltd
Ms Mary Ann CHAN
Senior Manager, Corporate Relations
Tel. +6598628363
Email: [email protected]