The People’s Committee of central Ha Tinh province  and the Vietnam Singapore Industrial Park And Township Development Joint Stock Company (VSIP JSC) held a groundbreaking ceremony for the Vietnam Singapore Industrial Park (VSIP) project in Ha Tinh Provine (VSIP Ha Tinh) on June 25, with the attendance of Deputy Prime Minister Tran Hong Ha and representatives of relevant ministries and agencies, among others.

Invested in by the VSIP JSC,  with a total instimated investment capital of VND1.55 trillion ($61.23 million), the project covers an area of 190.41 hectares and has a 50-year operational period. 

The VSIP Ha Tinh is located in the Thach Lien and Viet Tien communes in the province's Thach Ha district, which is connected to major routes such as National Highway 1A, National Highway 15B, and the eastern North-South Expressway. 

This project is expected to be a magnet attracting foreign investment in various fields such as electricity and electronics, semiconductors, precision engineering, garments, leather goods, energy, electric vehicle batteries, metals, automotive parts, food processing, logistics services, and rental factories.

Speaking at the groundbreaking ceremony, Deputy Prime Minister Tran Hong Ha highly valued VSIP Group - a brand associated with a chain of industrial parks and industrial, urban and service complexes in many localities in Vietnam.

With its reputation, brand, and experience in 28 years of investment cooperation in Vietnam, along with its strengths in technology, green vision and sustainable development strategy for the community, VSIP will contribute to Vietnam's green transition process, the Deputy Prime Minister said.

He added that this project is not only a significant event that promotes the process of industrialization and urbanization, thus turning Ha Tinh province into a modern, sustainably developed industrial center, and a growth hub of the Northern Central and Southern Central Coast regions, but also a vivid testament to the effective, substantive, and enduring cooperation between Vietnam and Singapore over the past 50 years.

Mr. Tan Cheng Guan, Executive Vice President in the Office of the Group President & CEO at Sembcorp Industries, said that the strong development of VSIP Group is proof of the strong and long-term friendship between Singapore and Vietnam.

Since the first park was established in 1996 in the southern province of Binh Duong, VSIP has succeeded in replicating the model across 13 provinces and cities in Vietnam. The groundbreaking ceremony of the VSIP Ha Tinh in the north central region marks another important milestone, he added.

Meanwhile, Chairman of the Ha Tinh Provincial People’s Committee Vo Trong Hai  emphasized that the industrial park is expected to bring significant benefits to investors, contribute significantly to the province’s industrial production value and export actiivities,  create more jobs and income for local workers, increase state budget revenue, and promote the rapid and sustainable socio-economic development of the province.