Deputy Prime Minister Tran Luu Quang has signed a decision giving the go-ahead to a proposal to develop VSIP Thai Binh in northern Thai Binh province.

The new Vietnam - Singapore Industrial Park (VSIP), covering more than 330 ha in Thai Thuy district, will cost nearly $212 million, including $31.781 million from the investor, the Vietnam Singapore Industrial Park and Urban Development Joint Stock Company.

The Deputy Prime Minister assigned the Thai Binh Provincial People’s Committee to direct the local Management Board of economic zones and industrial parks and relevant bodies to guide the investor in the project, ensuring compliance with criteria for the use of land in industrial parks within the national land use plan by 2025 allocated by the Prime Minister to Thai Binh.

Deputy Prime Minister Quang also approved a proposal by the company on the development of the Bac Thach Ha Industrial Park (First Phase) in north-central Ha Tinh province.

The 190-ha IP will have total investment of VND1.55 trillion ($64 million).