Singaporean investor awarded Friendship Medal
Low Sin Leng, Co-chairperson of the Vietnam-Singapore Industrial Park (VSIP) Limited Company, was awarded the Friendship Medal at a ceremony in Binh Duong province on October 2.
The award was in recognition of Low’s contribution to Vietnam’s socio-economic development, helping strengthen the Vietnam-Singapore friendship.
Low is one of the Singaporean investors in the VSIP Joint Venture. The industrial park was established under an agreement signed between the two governments to boost Vietnam’s economy and its cooperation with Singapore.
From the first one in Binh Duong, the VSIP JV has by now built four more industrial parks in Vietnam: one more in Binh Duong and three others in the northern port city of Haiphong, the northern province of Bac Ninh and the central province of Quang Ngai.
The VSIP system has so far attracted over US$6.4 billion of investment and generated jobs for 140,000 employees.
Binh Duong province is home to a total of 2,167 FDI projects with combined capital of US$18.2 billion. Singapore alone has invested in 116 projects capitalised at over US$1.5 billion, becoming the leading foreign investor in the province.