Vietnam, March 26, 2025 – Sembcorp Development, a wholly-owned subsidiary of Sembcorp Industries and its joint venture partner Becamex IDC (Becamex) have committed to explore the development of for more prospective Vietnam – Singapore Industrial Parks (VSIPs).

As part of the state-level ceremony held at the Government Office in Hanoi, in the presence of Mr. Lawrence Wong, Prime Minister of Singapore, and Mr. Pham Minh Chinh, Prime Minister of Vietnam, Memoranda of Understanding (MOUs) have been signed with local governments for initial and expansion of VSIP projects in the Southern Binh Duong province and the Northern Hai Phong City, Hung Yen and Hai Duong provinces. The MOUs reaffirmed the shared goals of creating environments at VSIPs with the necessary infrastructure and resources to attract and support high-tech manufacturing activities. 

In addition to the Memoranda of Understanding, the groundbreaking ceremony for the new 333-hectare VSIP Thai Binh project was also held. Strategically located within Northern Vietnam’s growing industrial ecosystem, VSIP Thai Binh is poised to become a key satellite industrial park.