PORTAL - Within the framework of the official visit to Vietnam, on the morning of September 14, Mr. Heng Swee Keat – Deputy Prime Minister, Coordinating Minister for Economic Policies of the Republic of Singapore and the delegation had a visit and work at the Vietnam – Singapore I Industrial Park (VSIP I) - Binh Duong.
Receiving the delegation were Mr. Vo Van Minh - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee (PPC); Mr. Nguyen Van Hung - Chairman of the Board of Directors of Becamex IDC Corp, Co-Chairman of VSIP Group; together with leaders of departments and branches in Binh Duong province.
Talking with leaders of Binh Duong province and leaders of VSIP Group, Mr. Heng Swee Keat – Singapore Deputy Prime Minister acknowledged and highly appreciated the VSIP economic model. From the first project formed in Binh Duong province based on the friendship and economic cooperation between Vietnam and Singapore, up to now, VSIP has spread and is present in many provinces and cities of Vietnam, contributing to the industrialization development of Vietnam and Binh Duong. Singapore Deputy Prime Minister highly welcomed VSIP Group's development strategy with new industrial park projects built on the basis of applying smart and sustainable innovations, such as VSIP III project.
The model of VSIP industrial parks demonstrates the effective cooperation between Vietnam and Singapore
Welcoming the delegation of the Singapore Deputy Prime Minister to visit and work with Binh Duong province, Chairman of the PPC Vo Van Minh thanked the Singapore Government for always supporting Binh Duong province in the past time. The cooperation with Singaporean partners and enterprises, including VSIP joint venture, has made an important contribution to the socio-economic development of Binh Duong province. Currently, Singapore ranks third among 65 countries and territories with investment capital in Binh Duong with nearly 300 projects, with a total capital of nearly 6 billion USD. Binh Duong will continue to work closely with Singaporean investors to promote research and share experiences in the fields of investment in industrial infrastructure, urban areas, services, etc. at the same time hopes that in the near future there will be more Singaporean enterprises to invest in the province.
Singapore Deputy Prime Minister Heng Swee Keat and leaders of Binh Duong province visit the VSIP I model
After the meeting, Singapore Deputy Prime Minister Heng Swee Keat and the delegation visited the 500ha VSIP I. Established in 1996, VSIP I is the first project formed from the cooperation between Vietnam and Singapore. Up to now, Binh Duong province alone has three VSIP projects (VSIP I, VSIP II, VSIP III) attracting nearly 600 investors from more than 22 countries and territories with a total investment capital of over 8.6 billion USD, creating jobs for 150,000 workers.
In particular, VSIP III with an area of 1,000 hectares marks a new milestone for VSIP Joint Venture when implementing a strategic transformation towards smarter and more sustainable development. VSIP III is designed to integrate smart technology in activities at the industrial park, from the use of energy, water, waste, to traffic management and security. Up to now, there have been many outstanding projects registered for investment here such as: LEGO Group's more than 1 billion USD project, Pandora Group's 100 million USD project and more than 40 corporations, domestic and foreign companies are interested in learning.
Currently, Singapore is also the 4th largest investor in VSIP Binh Duong with 56 projects, total investment capital of 1.1 billion USD. This visit of Mr. Heng Swee Keat and the delegation once again confirmed the effective role of VSIP through Singapore's investment projects in Vietnam and the important contribution of the joint venture in strengthening the strategic partnership between Vietnam and Singapore.
Up to now, VSIP Group has had 11 projects across the country with a total land area of nearly 10,000 hectares, attracting 17 billion USD in investment capital and 860 customers from 30 countries and territories; creating jobs for 300,000 workers.
Chairman of the PPC Vo Van Minh (2nd from left), Vice Chairman of the PPC Nguyen Van Danh (left cover) present a souvenir to Singapore Deputy Prime Minister Heng Swee Keat
Leaders of VSIP Group present a souvenir to Singapore Deputy Prime Minister Heng Swee Keat
Singapore Deputy Prime Minister Heng Swee Keat presents a souvenir to leaders of Binh Duong province
Singapore Deputy Prime Minister Heng Swee Keat writes scrapbook at VSIP I
Delegates take a souvenir photo
Reported by Phuong Chi- Translated by Thanh Tam