Update: 11:09 | 19/10/2022
President of Singapore Halimah Yacob visited the Vietnam-Singapore Industrial Park (VSIP) in Tu Son city, the northern province of Bac Ninh, on October 18 as part of her ongoing State visit at the invitation of President Nguyen Xuan Phuc.
At the working session, Secretary of the provincial Party Committee Nguyen Anh Tuan said with a favourable geopolitical position and business environment, Bac Ninh has attracted nearly 1,800 foreign-invested projects worth over 2.29 billion USD from 38 countries and territories. It is now home to 16 industrial parks, two of which are invested by VSIP.
President of Singapore Halimah Yacob visits VSIP Bac Ninh.
Singapore is now the third biggest investor in Bac Ninh with over 55 project valued at 1.98 billion USD, or 8.65% of the total foreign direct investment in the province, mostly in manufacturing and processing, hi-tech, clean and eco-friendly technology, industrial and urban infrastructure.
Bac Ninh’s industrial production is estimated at 1 billion USD, while the sector employs about 12,000 workers.
Tuan said the Singaporean President’s visit takes place at a time when the two countries are looking towards the 50th anniversary of diplomatic ties and the 10th anniversary of their bilateral strategic partnership next year.
The host asked the Singaporean President to support activities at VSIP Bac Ninh, make it easier for Singaporean investors and firms to continue doing business in the province in the near future, particularly those in the fields of digital transformation, energy and green transition, as agreed during her talks with President Nguyen Xuan Phuc.
Yacob discussed with representatives of VSIP Group its projects in Vietnam, including those in Bac Ninh, its development orientations, and the role of local authorities in the development of projects in industrial parks.
VSIP Group is investing in 11 industrial-urban infrastructure projects in eight cities and provinces over a total area of 10,000ha, attracting over 900 investors from 30 countries with total FDI of more than 17 billion USD and generating jobs to over 300,000 workers.
In Bac Ninh, VSIP invests in VSIP Bac Ninh in Tu Son city and VSIP Bac Ninh II in Yen Phong district.