Vietnam-Singapore Business Park to construct $88 mln facility in Nam Dinh province

Vietnam Singapore Industrial Park Joint Venture (VSIP) will build the first phase of Hai Long Industrial Park per VSIP model in the northern Vietnam province of Nam Dinh, with an investment of VND2,249.3 billion ($88 million).

According to a decision of Nam Dinh People’s Committee, VSIP will start building the industrial park, called VSIP Nam Dinh, in the third or fourth quarter of this year, towards completion in late 2027.

VSIP will contribute VND337.4 billion ($13.2 million) to the 180-hectare project.

Nam Dinh authorities have asked relevant agencies and VSIP to collaborate in deploying the project, including site clearance, administrative procedures, and resettlement for citizens.

The project is set to attract high-tech investments and employ 18,000 people, helping the socioeconomic growth of the coastal areas.

VSIP Nam Dinh is the first phase of the 1,100-hectare Hai Long Industrial Park in Giao Thuy district.

VSIP is a joint venture between Vietnam’s Becamex IDC and Singapore’s Sembcorp Development Group. The first VSIP facility was established in 1996. The joint venture now operates 18 VSIP facilities in 13 localities across Vietnam. Several more were planned in the country.