Commencement of VSIP Can Tho Industrial Park with more than VND 3,700 billion

On September 9, VSIP Group officially started constructing the VSIP Can Tho project in Vinh Trinh commune, Vinh Thanh district, Can Tho city. This is the 13th Vietnam - Singapore Industrial Park (VSIP) in Vietnam and the first project in the Mekong Delta.

VSIP Can Tho Industrial Park is planned with a total area of 900 hectares, expected to create jobs for 100,000 workers when completed, with an investment capital of more than VND 3,700 billion. Phase 1 has an area of 293.7 hectares and will immediately create jobs for 20,000 - 30,000 workers. The project is located at the strategic intersection between the vertical and horizontal highways of the Mekong Delta. It borders three provinces: Dong Thap, An Giang, and Hau Giang, easily connecting to the port system, airport, and amenities services of the city center.

Mr. Tran Viet Truong, Chairman of the People's Committee of Can Tho City, said that the city owns a complete infrastructure system, with Can Tho International Airport, the waterway network, the large port, the inner-city transportation system, and expressways connecting neighboring areas.

As a centrally run city, Can Tho was announced to approve its socio-economic development plan for 2021 - 2030, with the vision of becoming the Mekong Delta region's trade and service center by 2030. Can Tho have all the elements to promote the development of seafood agriculture and its role as a major food processing and distribution center.

The Government's infrastructure development plans are implemented according to the new master plan. In particular, the highway infrastructure development plan will significantly shorten the travel time between Can Tho to Tan Son Nhat Airport and major seaports in Ho Chi Minh City and Ba Ria Vung Tau. The new Chau Doc - Soc Trang highway project connecting provinces in the Mekong Delta and Cambodia is also being implemented.

VSIP Can Tho is oriented to be built according to the smart and sustainable industrial park model. VSIP Can Tho aims to become a large food processing and distribution center in the southern region, establishing a logistics network from the center to the port and supporting infrastructure to best support customers' supply chain needs.

Mr. Koh Chiap Khiong, CEO of Sembcorp Industries in Singapore and Southeast Asia market - representative of Becamex, Sembcorp, VSIP, said: "In the South, Vinh Thanh Industrial Park - VSIP Can Tho is the first project of VSIP built in the Mekong Delta. We plan to establish a hub-to-port logistics network at VSIP Can Tho with additional facilities to support and enhance tenants' supply chain needs."

According to Mrs. Nguyen Thi Bich Ngoc, Deputy Minister of Planning and Investment, this is the first project in the Mekong Delta region. The success of the project is the motivation for VSIP to expand investment in the Mekong Delta provinces. This is a region considered to have a lot of potential for development. VSIP Can Tho Industrial Park project is a key city with widespread regional influence.

The project is planned according to the criteria of green, clean, environmentally friendly industry, smart and modern management, sustainable development, solving labor and employment problems, and creating a large source of revenue for the city's budget, significantly contributing to the industrialization and modernization of Can Tho city.

In 1997, based on the cooperation agreement between the Governments of Vietnam and Singapore, Vietnam - Singapore Industrial Park Joint Venture Company Limited (VSIP) was established and became one of Vietnam's leading area infrastructure developers industry. VSIP has 17 industrial park projects in 13 provinces and cities with a total area of 8,138 hectares and a total registered investment capital of about US$ 2,290 billion.                                                           

VSIP Group is a joint venture between Becamex IDC Corporation (Vietnam) and Sembcorp Development (Singapore). With the launch event of VSIP Can Tho, VSIP Group is currently participating in developing 17 industrial, urban, and service parks across Vietnam. From the first VSIP in Binh Duong, VSIP Group's total land fund has increased to over 11,000 hectares. VSIP provides production infrastructure for 880 customers from 30 countries and territories, with a total investment capital of US$ 18.7 billion, and creates jobs for nearly 300,000 direct and millions of indirect workers.

VSIP is an essential driving force in attracting investment and socio-economic development of many localities while also creating a model for effective, sustainable, and long-term cooperation between the Government and two countries' business communities.