Provincial Party Secretary Nguyen Duc Trung presented the Decision approving the investment policy of VSIP Nghe An 3 project to the leaders of Sembcorp Group.

On the morning of March 12, within the framework of his official visit to the Republic of Singapore, General Secretary To Lam had high-level talks with Prime Minister and Secretary-General of the People's Action Party of Singapore Lawrence Wong.

At the end of the talks, under the witness of General Secretary To Lam and Singaporean Prime Minister Lawrence Wong, leaders of ministries, sectors, localities and businesses of the two countries exchanged cooperation documents.

Nghe An Provincial Party Secretary Nguyen Duc Trung presented the Decision approving the investment policy of VSIP Nghe An 3 Industrial Park project to the leaders of Sembcorp Group.

The land use scale of VSIP Nghe An 3 Industrial Park project is more than 181 hectares in Hung Nguyen district, in the Southeast Economic Zone, with an investment capital of 52.5 million USD. This is the 3rd VSIP Industrial Park in Nghe An, after VSIP Nghe An 1 Industrial Park project and VSIP Nghe An 2 Industrial Park project.

To date, the industrial parks invested by VSIP Nghe An Co., Ltd. have attracted 54 secondary projects, with a total registered investment capital of VND64,761.5 billion, including 34 FDI projects with a total capital of USD2.59 billion. The total FDI capital in VSIP Nghe An's industrial parks accounts for 53.1% of the province's total FDI capital.

VSIP Group came to Nghe An in 2015 with the VSIP Nghe An Industrial, Urban and Service Park project (VSIP Nghe An 1) in Hung Nguyen district. The project has a land use scale of 750 hectares with a total investment of 359 million USD.

Up to now, the Industrial Park has completed 96.98% of the site clearance; the Urban and Service Area has completed about 45% of the site clearance. The Industrial Park has basically completed the construction of synchronous infrastructure to attract investment; the Urban and Service Area is under construction and site clearance.

VSIP Nghe An 1 has attracted 53 secondary projects, with total registered investment capital reaching VND49,985.1 billion, including 33 FDI projects with total investment capital of USD2 billion; occupancy rate reached about 95%.

In 2024, Nghe An attracted nearly 1.75 billion USD in FDI capital, ranking 8th out of 63 provinces and cities; VSIP Nghe An alone attracted 8 FDI projects with a total investment capital of nearly 1.4 billion USD.

In February 2023, VSIP continued to invest in the construction of Tho Loc Industrial Park - Phase 1 (VSIP Nghe An 2) in Dien Chau district. The industrial park has a land use scale of 500 hectares, with a total investment capital of 164.6 million USD. To date, the project has completed 13.4% of site clearance and attracted 1 Mega Textile Vietnam project invested by Best Pacific International Limited Group.

VSIP is one of the successful FDI projects of Nghe An province and is becoming a key project with the expectation of creating a major breakthrough for industrial development of Nghe An province in the coming time.

Previously, on March 11, General Secretary To Lam received Mr. Tow Heng Tan - Chairman of the Board of Directors of Sembcorp Group. Secretary of Nghe An Provincial Party Committee Nguyen Duc Trung and leaders of ministries, departments and branches also attended.

Mr. Tow Heng Tan proposed a pilot policy for VSIP Industrial Park and said that, in addition to developing industrial infrastructure, the Group wishes to invest heavily in the electricity industry in Vietnam, especially renewable energy and gas turbines in the near future; hoping that the governments of the two countries will consider jointly developing training programs and cooperation in the field of offshore wind power.

Appreciating the development of the VSIP industrial park model, General Secretary To Lam said that the Vietnamese Government is currently considering adjusting the Power Planning towards strongly developing renewable energy sources.

Vietnam welcomes foreign enterprises, including Sembcorp, to invest in the electricity sector in Vietnam, especially clean and renewable energy. Vietnam is committed to accompanying Sembcorp to support and facilitate the group's effective and successful investment and business activities in Vietnam.