Work to start on VSIP project in Can Tho this September

The VSIP in Can Tho city will be the first of its kind in the Mekong Delta. (Illustrative photo: vietnamfinance.vn)

Phase 1 of the Vietnam - Singapore Industrial Park (VSIP) project in Vinh Thanh district, the Mekong Delta city of Can Tho, will have its construction started on September 9, according to the municipal People’s Committee.

The launch is expected to see the presence of about 300 delegates, including representatives of the Singaporean Embassy in Hanoi, the Singaporean Consulate General in Can Tho, ministries, and central agencies. It will also form part of the activities marking the 50th anniversary of the two countries’ diplomatic ties.

At the ceremony, the municipal administration will hand over memoranda of understanding on investment between the VSIP and potential clients, along with another on industrial park expansion orientations between Can Tho and the VSIP, the People's Committee noted.

Anthony Tan, General Director of the Can Tho VSIP Joint Stock Company, said that the park in Vinh Thanh district will be an industrial, residential, and logistic service complex meeting green and sustainability criteria.

The Can Tho VSIP project was approved by the Prime Minister and granted the investment registration certificate by the municipal People’s Committee in October 2022.

Phase 1 will cover 293.7ha of land and have total investment of over 3.7 trillion VND (153.8 million USD). During this phase, the project will also supply support services for factories in nearby areas and Can Tho at large, along with those for labourers working at the VSIP.

The VSIP joint venture, formed by Sembcorp of Singapore and Becamex IDC of Vietnam, is the biggest industrial park developer in the country at present. It set up the first VSIP in southern Binh Duong province in 1996.

So far, 11 VSIPs have been put into operation nationwide, and the one in Can Tho is the first in the Mekong Delta./.