US$200 million channeled into Vietnam-Singapore III in Binh Duong
The Bank for Investment and Development of Vietnam (BIDV) and Vietnam-Singapore Industrial Park (VSIP) Joint Venture Company Limited on August 22 signed a credit contract to sponsor an investment project on the construction of VSIP III worth VND4.6 trillion (US$200 million) in Binh Duong province.
The park is the third VSIP in Binh Duong – a major industrial hub of Vietnam, and the 11th in the country. Invested with over VND13.3 trillion in total, it will cover 1,000ha in Bac Tan Uyen district.
The park will be have with uniform, green, and smart infrastructure to attract investment to the sectors of electricity, electronics, transport vehicle production and assembly, mechanics, support industry, textile - garment, food, beverage, and logistics services.
To date, it has attracted a series of massive projects, including the Danish-based LEGO Group’s US$1 billion carbon neutral factory which spans 44ha, and a US$100 million jewelry manufacturing facility of the Pandora Vietnam group.
The 11 VSIPs across the nation totally cover 10,000ha, attract US$17 billion and 880 clients from 30 countries and territories, and create 295,000 jobs.