VSIP Quang Ngai draws $383m

09:22 | 20/06/2018

The Viet Nam-Singapore Industrial Park (VSIP) in the central province of Quang Ngai has attracted 17 projects worth a total US$383 million since it commenced construction in 2013.

vsip quang ngai draws 383m
The Viet Nam-Singapore Industrial Park (VSIP) in Quang Ngai Province has attracted 17 projects, worth US$383 million since it commenced construction in 2013.-VNS Photo Cong Thanh

The management board of VSIP Quang Ngai said the park, which was built on 600ha of land in the Dung Quat Economic Zone and 520ha of adjacent urban land had an investment capital of $337.8 million. Eight projects are currently operational in the fields of leather, textiles and garments, foodstuffs, and beverages, creating more than 13,500 jobs for local residents and experts.

Hebei Xindadong Textiles Company of China was seen as the biggest investor in the park with $38 million, followed by Hong Kong shoe maker Properwell, and Singapore’s UMW Equipment Systems – an industrial and heavy machinery plant.

According to the Dung Quat Economic Zone Authority, an investor can get certification to operate at the park’s one-stop service centre in just one day.

The park, situated in Son Tinh district, 8km north of Quang Ngai City, has been developing an urban area and residential zone to accommodate 15,000 workers.

VSIP has developed eight parks nationwide, including in the provinces of Bac Ninh, Hai Phong, Hai Duong, Quang Ngai and Nghe An, alongside three in Binh Duong Province.

The industrial parks are spread over a total of 7,000ha, and have attracted investments from 760 investors, totally nearly $12 billion, and creating 210,000 jobs.

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