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After its 14-year operation, Vietnam-Singapore Industrial Park (VSIP) Joint Venture Co. has constantly developed with the successful birth of VSIP 1 of 500 ha in Thuan An district and VSIP 2 of 345 ha in provincial Industry-Service-Urban Complex.

According to the VSIP Management Board, VSIP 1 and VSIP 2 have so far absorbed 359 investment projects, comprising of 330 FDI projects from 22 countries and territories with total investment capital of more than US$2.5bln and 22 domestic ones capitalized at more than VND900mln.

Despite the impacts of the world economic downturn, VSIP 1 and VSIP 2 last year still drew additional US$164mln and VND697bln in investment capital from FDI and domestic businesses. Noticeably, VSIP’s total revenue reached more than US$2.52bln, up 9.15% compared to 2008 and its total export turnover was estimated at approximately US$1.83bln, up 29% compared to 2008.

Following the success of VSIP 1 and VSIP 2, VSIP 2A adjacent to VSIP 2 covering 1,008 ha with total investment capital of more than US$136mln is now under construction. According to the investor, many businesses have pledged to make investment into VSIP 2A.

Along with VSIP 2A, VSIP Joint Venture Co. has expanded its investment to northern provinces.  The 700-ha VSIP Bac Ninh has to date attracted 20 projects with total investment capital of more than US$400mln. The VSIP Hai Phong was also granted investment licence on Dec.2008 with 1,600 ha in total, including 500 ha for industrial park development and 1,100 ha for urban complex development.

With achievements done, VSIP is seen as a symbol of fine friendship, cooperation between Vietnam and Singapore.

Photo: Reported by Trong Minh-Translated by K.T