Third Vietnam-Singapore IP breaks ground in Binh Duong

The new VSIP, the third of its kind in Binh Duong and the 11th in Vietnam, sits on an area of 1,000ha with total investment capital of more than VND6.4 trillion.

VSIP III is designed to have complete, green and smart infrastructure to attract investments in the fields of energy, electronics, mechanical engineering, vehicle assembling, support industries, textiles, food, beverage and logistics services, and warehousing.

Addressing the ceremony, Prime Minister Pham Minh Chinh praised Binh Duong’s efforts in running VSIPs effectively, helping to build up trust and attract investors to the locality.

He suggested that the local government and investors build a new generation industrial ecosystem associated with the fourth industrial revolution to turn VSIP III into an exemplary role model of the Vietnam-Singapore relations.

The PM asked Binh Duong to facilitate business operations and affirmed that the Government of Vietnam always creates the best possible conditions for businesses to invest and develop in the country.

“Vietnam has signed and participated in 16 bilateral and multilateral free trade agreements, so entering Vietnam means accessing a large market brought about by these 16 agreements,” said the PM.

At the ceremony, Binh Duong granted investment licenses to investors, including a US$1 billion LEGO project.