On September 14, 2016 VSIP Joint-stock Company in coordination with Binh Duong Province’s People’s Committee organised a ceremony to celebrate the 20^th anniversary of the first VSIP in Vietnam. The event was attended by Deputy Prime Minister Truong Hoa Binh and Singaporean Deputy Prime Minister Teo Chee Hean. 

Deputy Prime Minister Truong Hoa Binh and his Singaporean counterpart Teo Chee Hean
attend the 20th anniversary of VSIP. Photo: Nguyen Van Viet/VNA

Prime Minister Nguyen Xuan Phuc visited VSIP Nghe An (August 2016). Photo: Thong Nhat/VNA

Party General Secretary Nguyen Phu Trong visited VSIP I in Bing Duong Province (April 2013). Photo: Tri Dung/VNA


Singaporean President Tony Keng Yam visited VSIP II in Binh Duong Province in April 2012. Photo: Hoang Hai/VNA
 

Former Prime Minister/ Emeritus Senior Minister of Singapore Goh Chok Tong
planted a tree in VSIP Bac Ninh in 2014. Photo: Thai Hung/VNA

Addressing the ceremony, Deputy Prime Minister Truong Hoa Binh said that over the past 20 years, VSIPs have been part of the renewal process and development in Vietnam, actively contributing to the economic development in both localities and the whole country.

Deputy Prime Minister Truong Hoa Binh said that the chains of Vietnam-Singapore Industrial Parks (VSIP) have helped to deepening the two countries’ ties and he hoped they would continue to be a symbol of the close cooperation between the two countries.

The Vietnamese leader emphasised that the Vietnamese government highly values contributions by Singaporean firms in Vietnam, and vows to accelerate administrative procedures and offer all possible support to foreign businesses in general and Singaporean ones in particular. He hopes that  with the support from Vietnam and Singapore, VSIP will continue to be a symbol of cooperation between the two countries and the strong development in Vietnam, deepening the Vietnam-Singapore strategic relationship.

Singaporean Deputy Prime Minister Teo Chee Hean, for his part, recalled that the idea of building a Singapore standard industrial park in Vietnam was first raised by Prime Minister Vo Van Kiet during a visit to Vietnam by his Singaporean counterpart Goh Chok Tong in 1994. Two years later, the first VSIP – a joint venture between Vietnam’s Becamex IDC and a consortium of three companies from Singapore led by SembCorp Group, was inaugurated in Binh Duong.
 

VSIP II in Binh Duong Province. Photo: VISIP 



The modern infrastructure of VSIP. Photo: VSIP


Model of a green park in the project of VSIP Quang Ngai. Photo: Sy Thang/VNA



The factory of manufacturing mobile phone products of Microsoft in VSIP Bac Ninh. Photo: File



Headquarters of Dream Tech Vietnam Co.,Ltd, a 100% South Korean owned enterprise in VSIP Bac Ninh. Photo: Thong Hai/VNP
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The advanced production line of Nittan Vietnam Co., Ltd in VSIP Bac Ninh. Photo: Thong Hai/VNP
Dây chuyền sản xuất hiện đại của Công ty Nittan Việt Nam ở VSIP Bắc Ninh. Ảnh: Thông Hải


Production line of electronic chips at Seibi Semiconductor Vietnam Co.,Ltd in VSIP II in Binh Duong. Photo: Quach Lam/VNA 
 

The production line of medicine at Sapharco in VSIP Binh Duong. Photo: The Anh/VNA
 

Over the course of  20 years, seven VSIPs have been established  across three regions of Vietnam. From the initial industrial park, the later facilities have developed into an industrial-urban-service complex, attracting industries of high value and a high-quality workforce.

Chairman of the VSIP’s Board of Directors and Becamex IDC’s General Director Nguyen Van Hung said VSIP has so far attracted 630 enterprises from 30 countries and territories and a total capital of over nine billion dollars, generating jobs for 174,000 Vietnamese workers.

On the occasion, VSIP announced the signing of a memorandum of understanding to survey the possibility of expanding the two facilities in Binh Duong and Bac Ninh, adding an extra 1,500ha to the total 6,660ha of seven VSIPs in Binh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong and Nghe An.

The success of VSIP for over 20 years in Vietnam is proof of the economic, commercial and investment ties between the two countries.
 

Singapore is now a leading economic partner of Vietnam with over 1,6000 effective projects worth nearly 38 billion dollars. So far, seven VSIPs have been established in Vietnam, including VSIP I and II Binh Duong (established in 1996 and  2005), VISIP Bac Ninh (2007), VSIP Hai Phong (2010), VSIP Quang Ngai (2013), VSIP Hai Duong (2015), VSIP Nghe An (2015). VSIP has so far attracted 630 enterprises from 30 countries and territories with a total capital of over nine billion dollars, generating jobs for 174,000 Vietnamese workers and reaching a total export value of 32 billion dollars.

By VNA/VNP