|The VSIP Quang Ngai Industrial Park__Photo; baoquangngai.vn
The Prime Minister on December 22 issued Decision 1664/QD-TTg, approving an investment policy for the first-stage construction and operation of infrastructure in the Vietnam-Singapore Industrial Park II (VSIP II), located in the Dung Quat Economic Zone, the central province of Quang Ngai.
Invested by the VSIP Quang Ngai Co., Ltd, the 50-year project will sit on a site of 497.7ha in Binh Thanh and Binh Hiep communes, Binh Son district. The project’s total investment is over VND 3.73 trillion (USD 155.7 million), VND 560.55 billion of which is contributed by the investor.
The People’s Committee of Quang Ngai province will take responsibility for directing the Management Board of Dung Quat economic zone and industrial parks of Quang Ngai province and related agencies to guide investors to specifically set out progress of project implementation, especially progress of equity contribution for implementation of the project in conformity with the land law.
Assigned by the Governments of Vietnam and Singapore to operate VSIP projects in Vietnam in 1996, the Vietnam Singapore Industrial Park and Township Development JSC, a joint venture between Singapore’s Sembcorp Development and Vietnam’s Becamex IDC, has to date expanded to 13 developments across the country.
On February 10 in Singapore, Sembcorp announced a new partnership with Becamex on the occasion of Prime Minister Pham Minh Chinh’s visit, to develop five new VSIPs in Vietnam valued at approximately USD 1 billion.- (VLLF)