Awarding Investment Certificate for VSIP Industrial - Urban Service Complex Project

(Baonghean.vn) – On the afternoon of June 30, the provincial leaders: Ho Duc Phoc - Secretary of the Provincial Party Committee, Nguyen Xuan Duong - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee chaired a working session with the working delegation of VSIP Joint Venture Company to listen to the detailed planning report of the Urban Industrial Park in Nghe An, and at the same time awarded the investment certificate for this project.

Also attending the meeting were members of the Provincial Party Committee, leaders of relevant sectors, districts and towns. On the side of VSIP Joint Venture Company, there was Mr. Nguyen Phu Thinh - General Director of Vietnam - Singapore Industrial Park Joint Venture Company Limited (VSIP) and members of the delegation.

Comrade Ho Duc Phoc - Provincial Party Secretary affirmed: VSIP Industrial Park - Urban and Service Project marks the good cooperative relationship between Nghe An and Binh Duong province, will create a new breakthrough for Nghe An in socio-economic development.

VSIP Industrial, Urban and Service Complex Project in Nghe An is a project within the cooperation program between the Governments of Vietnam and Singapore. On February 15, 2014, Nghe An province and Becamex IDC Industrial Investment and Development Corporation (Becamex IDC) signed a Memorandum of Understanding. The investor has chosen to invest in the project in phases: Phase I (area IV): Area of ​​about 750 hectares in Hung Chinh commune (Vinh city); Hung Tay, Hung Dao communes and Hung Nguyen town (Hung Nguyen district). Phase II (areas I, II, III): under the planning of the Southeast Economic Zone according to Decision No. 21/2010/QD-TTg dated March 3, 2010 of the Prime Minister, total area of ​​1,096 hectares.

Comrade Nguyen Xuan Duong - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee concluded after listening to the investor's report on the detailed planning of the project.

Provincial leaders awarded the Investment Certificate to the VSIP Industrial - Urban Service Complex Project

Mr. Nguyen Phu Thinh, General Director of Vietnam-Singapore Industrial Park (VSIP) Joint Stock Company, spoke at the Investment Certificate awarding ceremony.

In recent times, the Provincial Party Committee, the People's Committee of Nghe An province, and the Management Board of the Southeast Economic Zone have paid attention to creating favorable conditions for investors such as expanding the Southeast Economic Zone. Accordingly, the Southeast Economic Zone has a total area of ​​about 20,776.47 hectares, including: the existing economic zone area and the 750-hectare area of ​​the VSIP Nghe An Industrial, Service and Urban Area (the 750-hectare area is Area IV, Phase I of the project).

Comrade Le Ngoc Hoa - Vice Chairman of the Provincial People's Committee spoke about solutions to remove difficulties and obstacles for investors in site clearance.

The Management Board of the Southeast Economic Zone has issued Document No. 283/KKT-DT dated April 23, 2015 to the Vietnam Singapore Industrial Park Joint Venture Company Limited regarding the project implementation procedure instructions. Up to now, VSIP has submitted documents requesting the issuance of investment certificates. The Management Board of the Southeast Nghe An Economic Zone has completed the investment certificate for the investor.

Representatives of the Department of Construction commented on the detailed project planning.

After listening to the consultant unit's report on the VSIP Urban and Service Industrial Park Detailed Planning, comrade Nguyen Xuan Duong - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee said: The project is of special importance in the economic development of Nghe An. The plan to relocate not many residents, will create new land fund for Vinh city and at the same time clean land fund with infrastructure for projects that will be invested here. It is requested that the sectors fully participate in giving their opinions on the document so that investors have more basis to complete the planning and approve the planning.

Consulting unit speaks at the ceremony

VSIP Nghe An Industrial - Urban - Service Complex Project has a total area of ​​about 750 hectares. The project will be implemented by VSIP Nghe An Company Limited and is under the Vietnam - Singapore Industrial Park Joint Stock Company (VSIP). VSIP is a joint venture between Becamex IDC Corporation and a consortium of Singaporean investors represented by Sembcorp Group.

VSIP Nghe An project will be developed in several phases. In the Investment Certificate granted at the ceremony today, Nghe An Provincial People's Committee approved VSIP to develop phase 1 of the project with an area of ​​198 hectares of industrial land and 81 hectares of commercial and residential land. The total investment capital of phase 1 is about 15.2 million USD. Industries attracted to VSIP Nghe An include textiles, agricultural production, processing and distribution, and fast-moving consumer goods (FMCG) production. Investors in VSIP Nghe An will enjoy special tax incentives in the economic zone according to current law. The project has an industrial land fund of nearly 300 hectares, the rest is other functional subdivisions such as infrastructure, trees, public, residential land, etc.

VSIP Nghe An is VSIP’s seventh project in Vietnam, following projects in Binh Duong, Bac Ninh, Hai Phong, Quang Ngai and Hai Duong. To date, the total land area that VSIP is planning and developing is more than 6,000 hectares.

At the meeting, the Investment License was granted to Vietnam - Singapore Industrial Park (VSIP) LLC.

Chau Lan - Thuc Anh - Phuong Thao