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Vietnam And Singapore Ministers Briefed On Latest Progress In VSIP Hai Phong Integrated Township And Industrial Park

July 05, 2011

Issued by Vietnam Singapore Industrial Parks

- Visit by Vietnam Minister Vo Hong Phuc and Singapore Minister Lim Hng Kiang to the 4th integrated township signifies another milestone in bilateral cooperation
- First major tenant, Kyocera Mita Corporation of Japan, receives Investment Certificate

Vietnam Minister for Planning and Investment Mr Vo Hong Phuc and Singapore Minister for Trade and Industry Mr Lim Hng Kiang visited the VSIP Hai Phong Integrated Township and Industrial Park today. The visit took place after the ministers met in Hanoi for the 7th Vietnam-Singapore Connectivity meeting.

During their visit, the ministers toured the northern part of the VSIP where development and infrastructure works are ongoing. The 1,600 hectare VSIP Hai Phong was launched in January 2010 by Vietnam Prime Minister Mr Nguyen Tan Dung and Singapore Prime Minister Mr Lee Hsien Loong. Since its launch, the VSIP Hai Phong, which is being developed in stages, has received the investment license for 748 hectares of land for its start-up area, paving the way for foundation laying, arterial road construction, water and wastewater treatment plants. As the Vietnam government views the VSIP Hai Phong critical to the economic and social development of Hai Phong City, the VSIP Hai Phong has been fully incorporated into the Dinh Vu-Cat Hai Economic Zone. It offers businesses operating in the VSIP Hai Phong government-supported investment incentives.

Even though the project is still at an early stage, it has received attention from potential investors, including its first major tenant signing. Kyocera Mita Corporation from Japan is one of the world’s leading manufacturers and provider of computer-connectable peripherals, including networkready printers and multifunctional products. It is a subsidiary of New York Stock Exchange-listed Kyocera Corporation. During the sidelines of Minister Phuc and Minister Lim’s visit to the VSIP Hai Phong today, they witnessed Kyocera Mita’s president Mr Katsumi Komaguchi receiving the company’s investment certificate from Mr Dan Duc Hiep, the Standing Vice Chairman of the Hai Phong People’s Committee. Kyocera Mita plans to invest more than US$200 million to set up a 20-hectare manufacturing plant in the VSIP Hai Phong and export printers and multi-functional products to more than 140 countries. It will employ 5,000 workers at full operating capacity with exports worth US$750 million per year. Its factory is expected to be completed by October 2012. This is their first investment in Vietnam.

VSIP shareholder Becamex IDC will also self-develop residences in the VSIP Hai Phong through its subsidiary, Becamex TDC, which is listed on the HoChiMinh Stock Exchange. The company has purchased a 10-ha plot of land in the start-up area to develop 342 units of villas and terraced homes with total Gross Floor Area of 86,691 square meters. The residences will house about 1700 residents. Construction will commence this year.

Minister Lim remarked, “It is heartening to note that we are now developing the fourth VSIP project, since the first one was established in 1996. VSIP Hai Phong is a testament to how far economic collaboration between Singapore and Vietnam has progressed and strengthened over the years, and of how companies from both sides can work together to contribute towards greater mutual benefits.”

VSIP Hai Phong project adopts an integrated industrial park and township model, introducing residential, commercial and industrial mix. Key features of the VSIP Hai Phong include a central business district, a four-kilometer stretch of waterfront land, financial and arts districts and convention centre. The VSIP Hai Phong shares borderless space with the future government civic area and university. As a whole, these developments will form a new metropolitan area north of the Cam River in the heart of Hai Phong City.

The VSIP Hai Phong is the fourth VSIP project to be established in Vietnam. It follows two successful VSIP projects in Binh Duong near Ho Chi Minh City and a third in Bac Ninh province close to Hanoi. The VSIP projects have attracted more than 400 companies employing about 85,000 workers from operating tenants. The VSIP is a joint venture led by Singapore’s Sembcorp Industrial Parks and Vietnam’s Becamex IDC Corporation.

Several Singapore companies have been brought in to provide urban solutions to the integrated township. Surbana Corporation carried out urban master planning for VSIP while Nanyang Technological University’s (NTU) Nanyang Environment & Water Research Institute (NEWRI) recently completed VSIP-commissioned urban water management and hydraulic assessment studies on the integrated township’s river flow network.

Said Ms Low Sin Leng, co-chairman of the VSIP Group and executive chairman of Sembcorp Industrial Parks, “Hai Phong, being the third most populous city in Vietnam after Ho Chi Minh City and Hanoi, would require extensive urban solutions for long-term development sustainability. The VSIP Hai Phong is a strategic project that aims to meet the urbanization trends in this fast growing country. We are very grateful that the governments of Vietnam and Singapore continue to lend their strong support to help us meet our goal of creating this new standard in integrated townships for the benefit of the people of Hai Phong and Vietnam.”

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Media Enquiries, please contact:

VSIP Hai Phong Co. Ltd
Mr Huynh Quang Hai
Email: [email protected]

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