Singapore keen to establish green industrial park project in Vietnam
Vietnam and Singapore have discussed on the establishment of green industrial park projects in Vietnam. Chairman of the People’s Committee of the southern province of Binh Duong Duong Vo Van Minh held a meeting with CEO of Semncorp Development of Singapore Kelvin Teo for the same. According to the authorities, the “investment model of the Vietnam-Singapore Industrial Park (VSIP) Joint Venture has developed successfully in Vietnam in general and Binh Duong in particular.” It has been reported that Semncorp has shown interest in developing projects in VSIPs in Binh Duong, especially developing VSIP III into a green and smart IP. Earlier, the VSIP III had drawn over 1 billion USD from LEGO Group. This factory is expected to come into operation by 2024. Meanwhile, the latest plan is expected to support achieve the goals of green energy transition. Vietnam’s Binh Duong province has been attracting investments focused more on industrial and urban development. The province has prioritized renewable energy, sustainable infrastructure, and green financing. As per Binh Duong’s official data, it has been home to 4,085 investment projects with a total registered capital of 39.7 billion USD from 65 countries and territories. The province ranks second across Vietnam in attracting foreign direct investment FDI capital.