New Viet Nam-Singapore Industrial Park Starts Construction in Ha Tinh
The commencement of a new Viet Nam-Singapore Industrial Park (VSIP) marks a significant milestone in the industrial development of Ha Tinh, encapsulating a blend of modernization and economic progression. The VSIP, which sprawls over 190.41 hectares in Thach Ha District, represents a substantial commitment with a first phase investment reaching VND1,555 billion ($61 million).
In a ceremonious event, Vietnam’s Deputy Prime Minister Tran Hong Ha emphasized the nation’s accelerated path towards industrialization and urbanization. He underscored the aim for qualitative growth driven by green production, clean energy, and a knowledge-based economy. The Deputy Prime Minister stressed the crucial role of high-quality human resources and renewable energy as new catalysts enhancing the competitive edge of the country’s economy. Revitalizing traditional growth motivators, including infrastructural development, is also on the nation’s agenda.
The Deputy Prime Minister drew attention to the North Central and Central Coast regions, noting their potential as lucrative destinations for strategic investments due to their robust seaport systems, integrated transportation networks, skilled workforce, and renewable energy resources. Such attributes, he remarked, fortify the locales as ideal grounds for fostering a clean energy and green production ecosystem.
The new VSIP is expected to leverage 28 years of its experience in Vietnam, showcasing its technological prowess, commitment to sustainable development, and a vision aligned with global environmental consciousness. The Deputy Prime Minister expressed his hope that VSIP would play a pivotal role in the nation’s journey towards green transformation.
Since its inception in Binh Duong in 1996, VSIP has expanded its footprint across Vietnam, establishing 18 industrial parks in 13 provinces and cities, spanning 11,588 hectares. These parks have become hubs of economic activity, attracting an investment capital totaling $21 billion from 30 countries and territories and creating over 300,000 job opportunities. This serves as a testament to the strategic importance and success of the VSIP initiative in spurring industrial development and attracting foreign investment.
In the current year, Ha Tinh province has emerged as a beacon of investment attractiveness, having approved eight domestic investment projects with a collective registered capital exceeding VND1 trillion ($39 million), effectively doubling the investment influx compared to the corresponding period last year. This dynamic progress positions Ha Tinh among the top 10 localities in Vietnam appealing to foreign direct investment projects.
The establishment of the Viet Nam-Singapore Industrial Park in Ha Tinh is not just a development project; it is a vision materializing into concrete reality, promising to bolster the region’s economic landscape while adhering to sustainable and green development principles. The strategic location of Ha Tinh, combined with the promise of VSIP’s proven expertise and commitment to sustainability, sets the stage for a fruitful and green industrial future.
