Kelvin Teo, Chief Executive of Sembcorp Development, has said the Singapore consortium is looking at the possibility of building a sixth, and maybe a seventh, Vietnam – Singapore Industrial Park (VSIP).
Singapore’s top daily The Business Times quoted the official as saying that Vietnam has experienced a challenging time in the past two years but the country’s potential cannot be dismissed.
Sembcorp sees Vietnam’s potential and is taking steps to raise its stake in a power plant in Ba Ria – Vung Tau province from 33.3 percent to 66.67 percent, he said.
After 18 years of construction and development, industrial zones in Vietnam have gradually asserted their positions and roles in the national socioeconomic and industrial development. Industrial zones have become an important element in promoting economic restructuring, spurring economic growth and quickening the process of industrialisation and modernisation. Destination for global names The opening up of the market as WTO entry commitments by the Government of Vietnam, growing population, rising income, expansive market consumption and other factors are the reasons why many leading companies are interested in investing in Vietnam and adding momentums for the development of industrial zones and export…... [read more]
Binh Duong is one of the most attractive destinations for foreign investors. The province has created many investor-friendly industrial parks and industrial complexes. For example, Nam Tan Uyen Industrial Park has become the most favourite destination for investors after three years of operation. The Nam Tan Uyen Industrial Park was formed on October 24, 2005 in the south of Tan Uyen district, Binh Duong province, about 30 km northeast of Ho Chi Minh City, the largest economic hub in Vietnam. Developers of the industrial park include the Vietnam Rubber Industry Group, Phuoc Hoa Rubber Joint Stock Company, the Rubber Investment…... [read more]
After many years "rolling out the red carpet" to invite and attract investors, the amount of investment capital channelled into industrial parks in Quang Nam province has continuously increased, thus playing a more important role in restructuring the provincial economy and creating more jobs for local people. Along with planning and developing industrial zones, the Quang Nam Industrial Zones Management Board always closely joins hands with all relevant agencies to attract investment capital for them. Apart from investment promotion conferences held by the Ministry of Planning and Investment, the board also organises direct contacts and working sessions with big corporations…... [read more]
Industrial parks (IPs) in Lam Dong province are playing more important roles in promoting provincial economic development. In the coming time, Lam Dong will create most favourable conditions for investors to develop industrial zone infrastructure in order to attract more investment capital into the province. To date, Lam Dong province has three centrally approved industrial zones with total planned area of 855.32 hectares. The 185 ha Loc Son Industrial Park prefers investors in coffee, tea, silk, brick, building materials, aluminium, stone tile, electronics, woodwork, footwear, garment and others. The 174 ha Phu Hoi Industrial Park is designed for investors operating…... [read more]
In recent years, the building and development of industrial parks and complexes has proved its important role in promoting Vietnam’s industrialisation and modernisation. However, alongside the achievements, there are still shortcomings. By the end of 2004, Vietnam had 164 industrial parks allowed or approved in principle by the Prime Minister to be established. Of this figure, 122 industrial parks, with a total area of 21,829 hectares, were allowed by the Prime Minister. So far, 68 industrial parks have become operational and 44 others are under construction. The figure doesn’t include industrial complexes which were allowed or have been allowed to…... [read more]
Low wages have discouraged unskilled workers from seeking jobs in the southern province of Dong Nai, and as a result many companies in industrial parks there now face a serious shortage of labor. "The wages offered are too low to ensure decent living conditions," said Nguyen Minh Man, director of the Youth Job Center in a recent meeting with provincial labor officials. The director of another job placement center in the province said most companies refused his center's proposal to increase wages. Workers at Taiwanese companies are now paid 400,000 Vietnamese dong (VND) a month on average. Monthly wages at…... [read more]
Dong Nai is among the leaders in attracting foreign investment capital. To catch the interest of foreign investors, the provincial government has set up a lot of industrial zones and applied attractive incentive policies for investment projects there. Loc An - Binh Son Industrial Park is considered a promising destination for investors in the coming time. Covering 497.77 ha in Long Thanh district, southeast of Bien Hoa City, Loc An - Binh Son Industrial Park was invested by V.R.G - Long Thanh Investment and Development Joint Stock Company. The industrial park has synchronous and modern infrastructure system and complete public…... [read more]
As a leading infrastructure operator in Dong Nai province, Sonadezi Long Binh Joint Stock Company - the investor of Bien Hoa 2, Go Dau, Xuan Loc and Thanh Phu industrial parks - attracted 180 projects with a total investment of nearly US$3 billion from 24 countries and territories. At present, Sonadezi Long Binh is focusing on investment attraction into Thanh Phu Industrial Park - a new attractive destination for investors. To effectively use its industrial land area of 868 ha, Sonadezi Long Binh, with the mission to creating a favourable investment climate for enterprises, has made efforts to build…... [read more]
In recent years, industrial parks in Bac Ninh province have contributed significantly to the high proportion of industry in the local GDP. Each industrial Park houses several major investors to attract other smaller satellite investors, which provide supporting industries. Bac Ninh targets to develop new urban areas and to accelerate urbanization. Here are some typical industrial parks that help to create the bright picture of Bac Ninh industry. Tien Son Industrial Park Tien Son Industrial Park was established by Decision No 1129/QD-TTg of the Prime Minister on December 18th 1999 with the land lease term of 50 years. Tien Son…... [read more]
With most favourable investment attraction policies of Binh Phuoc province, full legal support of Binh Long Rubber Joint Stock Company, and its synchronous infrastructure and service utilities, Minh Hung III Industrial Park is becoming an attractive destination for domestic and international investors. Covering 291.52 ha and costing VND289 billion of infrastructure construction, Minh Hung III Industrial Park is endowed with favourable conditions for investors to do business, particularly its prime location that not all industrial parks have. It is located in Minh Hung commune, Chon Thanh district, Binh Phuoc province, just 90 km from Tan Son Nhat Airport and 60…... [read more]