• MoUs for prospective VSIPs in Binh Duong, Haiphong City, Hai Duong, Hung Yen, and groundbreaking of VSIP Thai Binh were presented at state-level event in Hanoi

Sembcorp Development, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), and its joint venture partner Becamex IDC (Becamex), have committed to exploring the development of more prospective Vietnam Singapore Industrial Parks (VSIPs) in Vietnam.

Memoranda of Understanding (MoUs) have been signed with local governments for initial and expansion VSIP projects in the southern Binh Duong province, as well as the northern Haiphong City, Hai Duong and Hung Yen provinces. The MoUs reaffirm the shared goal of creating optimal environments at VSIPs, equipped with the necessary infrastructure and resources to attract and support high-tech manufacturing activities.

The presentation of the MoUs was followed by a groundbreaking ceremony for the new 333-hectare VSIP Thai Binh. Strategically located within northern Vietnam’s growing industrial ecosystem, VSIP Thai Binh is poised to become a key satellite industrial park, supporting a broad network of manufacturers and suppliers across high-value sectors such as electronic components, precision engineering, and renewable energy. Industrial land at VSIP Thai Binh will be available for handover to customers in 2026.

Their Excellencies Lawrence Wong and Pham Minh Chinh, the Prime Ministers of Singapore and Vietnam respectively, witnessed these significant developments at a state-level event held at the Office of the Government in Hanoi. Their support underscores the strategic role of VSIPs in strengthening bilateral and economic cooperation between Vietnam and Singapore.