In the past 20 years, VSIP has gradually become an outstanding model of economic development and investment attraction in Vietnam.
VSIP currently has been present throughout the country's regions.
Prime Minister Nguyen Tan Dung and Singapore’s Minister for Trade and Industry Lim Hng Kiang visit the model of VSIP Nghe An, phase II.
The total investment captal of VSIPs in Vietnam has reached nearly 8 billion USD, creating jobs for over 155,000 employees.
Vietnam - Singapore trade increased by 20% yearly over the past 10 years.
Bilateral trade in 2014 gained 10 billion USD and is estimated to reach 11 billion USD in 2015.
Singapore has registered a total investment of 33 billion USD in Vietnam.
The new VSIP is designed to be a mixed industrial park focusing on light and clean industries such as animal food processing, consumer production, electronics, automobile assembly, building materials and other supporting industries.
In phase I, 198 hectares of land will be dedicated to industrial purposes and 81 hectares of land are for commercial and housing purposes. The total cost of phase I is 76.4 million USD.
In phase II, the project is set to be part of the planning of the province’s Southeast Economic Zone, which has an area of 1,096 hectares.
VSIP Nghe An is expected to attract 150 hi-tech, clean and environmentally-friendly enterprises.
Speaking at the ceremony, PM Nguyen Tan Dung said VSIP Nghe An, once operational, will contribute to the socio-economic development of Nghe An in particular and the north central region.
The project will benefit the two governments and their countries’ companies while helping enhance the strategic partnership and their agreement to connect the two economies in the context of the formation of the ASEAN community with economy and trade as key pillars.