The Vietnam Singapore Industrial Park (VSIP) is a world-class industrial park that was initiated by the Governments of Vietnam and Singapore. In March 1994, the VSIP project was first proposed by former Vietnamese Prime Minister Vo Van Kiet to his contemporary Singaporean counterpart Goh Chok Tong. Almost two years later, the project was officially launched on January 31, 1996 in Singapore. On 14 May 1996, the two Prime Ministers gathered again at the project site in Binh Duong to attend the groundbreaking ceremony of the first part of the project, VSIP I, (500ha). For the past 14 years of development, VSIP I has become the leading industrial park in Vietnam, and has proven to be a very attractive investment destination, technology transfer and environment protection for many multinational companies for the domestic as well as export markets.
"The success of VSIP is based on three principal factors. First, VSIP offers a healthy economic and attractive investment environment on the part of the host country. Another advantage is its good location with favorable conditions and quality of competitiveness on the side of the industrial park itself. The third factor is its transparent and liberal framework, i.e. the local management. At VSIP, we are guided to manage the zone under a "One- Stop-Service" principle," shared Nguyen Phu Thinh, the general director of VSIP.
Some 240 investors from 22 countries around the world have chosen to base their long-term investment projects in VSIP I. And the business of VSIP has grown from strength to strength. VSIP II, officially launched in 2006 with the area of 345ha, has attracted 133 customers so far. The on-going project, and also the most significant project at present which will expand the scope of work of VSIP to both industrial park and township development, is VSIP II Expansion or VSIP Binh Duong Township and Industrial Park. Comprising a 1,000ha industrial zone and a 700ha township, VSIP is well-placed to participate in the exciting emergence of the second largest city in southern Vietnam, the New Binh Duong City.
Not just limited in the total area of 2,545ha in the south, since 2007, after 10 years of operation, VSIP has announced its expansion to the north with two projects: VSIP Bac Ninh Township and Industrial Park Complex of 700ha (200ha for Township and 500ha for IP); and VSIP Hai Phong Township and Industrial Park Complex of 1,600ha (1,100ha for Township and 500ha for IP). Talking about the expanding investment of VSIP into township, Ms. Low, a representative of VSIP, said, "After 10 years of success in developing infrastructure for industrial parks, we have realized the investors’ demand for township infrastructure. Therefore, VSIP has decided to develop these two infrastructure projects to create the best investment environment for investors."
With the latest project in the city of Hai Phong, VSIP has totally established four industrial park and township complexes in Vietnam with the combined area of more than 4,845ha, attracting a huge amount of investment capital flowing into the areas and generating jobs for thousands of employees.
Since its establishment, VSIP has had the honor to receive many delegations of Vietnamese and Singaporean government officials to VSIP's site and ceremony. These visits have not just highlighted the development of the company but also enhanced the relationship between the two governments and the two countries. At VSIP Bac Ninh's groundbreaking ceremony on December 11, 2007, Vietnamese Deputy Prime Minister Hoang Trung Hai said, "VSIP Bac Ninh will continue to manifest the close partnership between our two countries. Once operational, VSIP Bac Ninh will be a significant project in the north."
With these achievements, VSIP has become the symbol of cooperation between Vietnam and Singapore. To enhance this honor and to achieve sustainable development, all VSIPs are developed to become people-centered, environmentally-friendly integrated townships that are the preferred choice of all - a place to live, learn, work and play. VSIP is also committed to be a leading township and industrial park complex in Vietnam, providing an operating environment conducive to success./.