Establishment of VSIP in Nghe An Province

ESTABLISHMENT OF VSIP IN NGHE AN PROVINCE, NORTHERN CENTRAL, VIETNAM
 
VIETNAM, June 30, 2015 – Vietnam Singapore Industrial Park JV. Co., Ltd. (VSIP JV) has obtained exclusive rights from the People’s Committee of Nghe An Province to develop a 750-hectare integrated township and industrial park.  The project company, VSIP Nghe An Co., Ltd., which will undertake this project is wholly-owned by VSIP JV. VSIP JV is a joint venture between Vietnam’s Becamex IDC Corporation and a Singapore consortium led by Sembcorp Development.
 
VSIP Nghe An will be developed in phases in tandem with demand. VSIP JV has also received the investment licence for phase one of the project which comprises 198 hectares of industrial land and 81 hectares of commercial and residential land. The investment in phase one will be funded partly by equity of US$15.2 million. 
 
Nghe An province is located in Vietnam’s northern central region and plays a supporting role to the capital of Hanoi. It is located 400 kilometres from Hanoi and 70 kilometres from the Laotian border. Garment manufacturers, agribusinesses and fast moving consumer goods (FMCG) sectors are target industries of VSIP Nghe An. Special economic zone incentives provided by the government, are available to its tenants.
 
With the investment in VSIP Nghe An, there are now a total of seven VSIP projects across Vietnam, with the others located in Binh Duong, Bac Ninh, Hai Phong City, Quang Ngai and Hai Duong provinces. The total gross area of the seven VSIP developments is more than 6,000 hectares.

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