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Vietnam Singapore Industrial Park Joint Venture Company Ltd (VSIP) and Standard Chartered Bank (SCB), on August 8, signed a US$25mln credit agreement which will fund the VSIP Binh Duong Integrated Township and Industrial Park project.

 The signing ceremony of the US$25mln credit agreement between VSIP and SCBBinh Duong-based VSIPs have so far lured 415 domestic and FDI projects, including 303 in operation, with a total investment capital of US$3.8bln, generating jobs for more than 100,000 laborers. Following the success of Binh Duong-based VSIPs, VSIP Joint Venture Company Ltd has implemented the VSIP model in three other localities: Bac Ninh, Quang Ngai and Hai Phong.

Also at the signing ceremony, Luis Taylor, CEO of SCB said that Vietnam is now a key market for SCB’s development and the signing of the above credit agreement showed SCB’s faith in Vietnamese market.

Reported by Thanh Son-Translated by K.T