A groundbreaking ceremony for the second Vietnam-Singapore Industrial Park (VSIP) in the central province of Quang Ngai was held on March 12, according to a report from the Government News.

This brings the total number of VSIPs in Vietnam to 18.

The event took place on the occasion of Party General Secretary To Lam's official visit to Singapore from March 11-13, serving as a vivid testament to the substantive and effective cooperation between the two nations which have just elevated their bilateral ties to a comprehensive strategic partnership.

The second VSIP Quang Ngai covers an area of 497.7 hectares, with a registered investment capital of about $161 million.

The park is designed with a focus on sustainability and smart technology, aiming to foster green, modern and environmentally responsible development. When fully operational, it will provide an attractive investment location for leading international companies and corporations.

Earlier, in September 2013, under the witness of former Prime Minister Nguyen Tan Dung and his Singaporean counterpart Lee Hsien Loong, the first VSIP Quang Ngai was built. The project has marked a significant milestone in the socio-economic development of the province.

So far, the first VSIP Quang Ngai has attracted 44 projects with a total registered FDI capital of approximately $1.3 billion, creating 40,000 jobs.