VSIP Quang Ngai launches phase II

The groundbreaking ceremony of the phase II of the Vietnam Singapore Industrial Park (VSIP) project in the central province of Quang Ngai. (Source: VNA)

The 566-hectare phase II of the Vietnam Singapore Industrial Park (VSIP) project in the central province of Quang Ngai kicked off on August 6.

On the occasion, two investors, the Properwell Company from Hong Kong (China) and the UMW Company from Singapore, were granted investment licences to implement business activities in the VSIP.

Quang Ngai also introduced the one-stop shop mechanism to make it easier for investors who want to invest in the VSIP.

Phase II also includes the development of 2,080 houses on 99 hectares near the centre of Quang Ngai city to accommodate around 15,000 residents.

Secretary of the Quang Ngai Party Committee Le Viet Chu said the project would help balance the province’s development of heavy industry & light industry and trade & services, generate jobs and increase the provincial budget income.

The VSIP is being developed across 1,226 hectares. Phase I of the project covered 660 hectares and construction has been completed on 180 hectares.

Phase I attracted 10 foreign investors with a combined capital of 132 million USD.-VNA