Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong press the button to start construction of VSIP Nghe An II

The conference was organized by the Ministry of Planning and Investment, the Government Office, the Embassy of the Republic of Singapore in Vietnam in coordination with the Vietnam-Singapore Industrial Park Joint Venture Company (VSIP).

Also attending the conference were the spouses of the two Prime Ministers and more than 500 delegates who are leaders of ministries, branches, provinces, cities and more than 150 enterprises of Vietnam and Singapore. Leaders of Nghe An province attending the conference were: Thai Thanh Quy - Member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, Head of the Provincial National Assembly Delegation; Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee.

Within the framework of the conference program, Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong and delegates also performed the groundbreaking ceremony of new VSIP projects including: VSIP Nghe An II, VSIP Can Tho, VSIP Bac Ninh II.

In Nghe An, there are currently 7 valid FDI projects of Singaporean enterprises with a total registered capital of more than 486.41 million USD.

Including the project of VSIP Nghe An Company Limited. VSIP is a real estate development model of industrial parks, urban areas and services of the joint venture of Sembcorp Group (Singapore) and Becamex IDC Corporation (Binh Duong province).

Currently, the Industrial Park Project of VSIP Nghe An I Project has become a driving force in the socio-economic development of Nghe An province, reaching an occupancy rate of 88%.

VSIP Nghe An II project in Tho Loc Industrial Park has a land use scale of 500 hectares in Dien Tho, Dien Phu, Dien Loc communes (Dien Chau district), belonging to Dong Nam Economic Zone, Nghe An. The project's operating period is 50 years from February 8, 2023. This is a project to build industrial, service and urban areas converging green, smart and sustainable development factors. The project was granted an Investment Certificate in March 2023 and is expected to be a driving force to attract investment in Nghe An.

The total investment capital of VSIP Nghe An I and VSIP Nghe An II is 445 million USD. As of August 2023, it has attracted 42 land lease investment projects with a total investment capital of 963 million USD; expected to create jobs for more than 40,000 local workers.

Of which, 25 foreign investors (FDI) from countries and territories such as Japan, Korea, Singapore, China, Hong Kong, Taiwan, and Sweden have invested in VSIP Nghe An.

Large corporations in the global electronics supply chain have also "poured" hundreds of millions of USD into this industrial park, such as: Luxshare - ICT Group (Investing in 4 projects with a total registered capital of 359 million USD; Everwin Group (Investing in 1 project with a total capital of 200 million USD, expected to increase capital to 400 million USD). Currently, there are over 13,500 workers working in VSIP Nghe An Industrial Park.