Ambassador Extraordinary and Plenipotentiary of the Lao PDR to Vietnam visits VSIP Nghe An Industrial Park
On the afternoon of July 4, during the visit and working program in Nghe An, comrade Khamphao Ernthavanh - Ambassador Extraordinary and Plenipotentiary of the Lao PDR to Vietnam and the working delegation visited and worked at VSIP Industrial Park.
Joining the delegation, on the side of Nghe An province were comrade Tran Khanh Thuc - Director of the Department of Foreign Affairs and representatives of the Southeast Economic Zone Management Board.
VSIP is one of the successful FDI projects that Nghe An province has attracted and is becoming a key project with the expectation of creating a major breakthrough for the province's industrial development.
Up to now, VSIP has invested in 3 projects in Nghe An: VSIP Nghe An 1 Industrial, Urban and Service Park with a total investment of 359 million USD; Tho Loc Industrial Park - Phase 1 (VSIP Nghe An 2) with a total investment of 164.6 million USD; VSIP Nghe An 3 Industrial Park with a total investment of 52.5 million USD.
After 10 years of implementation, VSIP Nghe An 1 Industrial Park has attracted 57 projects with a total area of 261.74 hectares; achieved an occupancy rate of 91.3%; total investment capital reached 2.109 billion USD, of which 2.011 billion USD is FDI capital.
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VSIP Nghe An I has attracted major investors including Luxshare ICT, Luxcase, Luxvision, Merry & Luxshare, Innovation Precision, Radiant, Everwin Precision, Matsuoka, Jtec…
The main industries attracting investment include: 79% of the electricity, electronics and precision engineering industry; 8% of the alloy industry; 5% of the factory for rent and logistics services; 3% of the garment and accessories industry, 5% of other industries including construction materials and interiors, auto parts, consumer goods, food, chemicals, biomass pellets, and packaging.
Currently, 44 projects have come into operation, employing about 32,000 local workers. In 2024, the export value is estimated to reach VND23,962 billion, equivalent to USD940 million.
After listening to the report, Comrade Khamphao Ernthavanh - Ambassador Extraordinary and Plenipotentiary of the Lao PDR to Vietnam congratulated and highly appreciated the development results of VSIP after nearly 30 years since the construction of the first Industrial Park in Binh Duong province (old).
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Ambassador Khamphao Ernthavanh also congratulated the successful cooperation between Nghe An province and Singapore, through VSIP Group. With 20 industrial parks nationwide, VSIP not only creates jobs for hundreds of thousands of local workers but also creates a strong driving force for socio-economic development for Vietnam in general and Nghe An province in particular.
With a professional, reputable and systematic business strategy, VSIP has also attracted many large secondary investors to Nghe An province with a very large total investment capital. The industrial park development model that VSIP built in Vietnam in general and Nghe An in particular is a valuable lesson for Laos in attracting investment and developing industry.
Ambassador Khamphao Ernthavanh emphasized that Laos is currently very interested in attracting investment and hopes to build industrial parks to attract large investors like VSIP in the near future. In the future, Vietnam and Laos will continue to cooperate in attracting investment, especially strategic investors.
At the meeting, representatives of VSIP Group shared information on investment attraction policies, labor recruitment, product consumption, mechanisms and policies of Vietnam in general and Nghe An in particular for investors.
