PM witnesses work starts on third Vietnam - Singapore Industrial Park in Binh Duong

Binh Duong (VNA) – Prime Minister Pham Minh Chinh attended the ground-breaking ceremony of the Vietnam - Singapore Industrial Park (VSIP) No. 3 in southern Binh Duong province on March 19.

This is the third VSIP in Binh Duong, a major industrial hub of Vietnam, and the 11th in the country. Invested with over 6.4 trillion VND (280 million USD) in total, it will cover 1,000ha in Hoi Nghia ward of Tan Uyen town and Tan Lap commune of Bac Tan Uyen district.

The park will be equipped with uniform, green, and smart infrastructure to attract investment to the sectors of electricity, electronics, transport vehicle production and assembly, mechanics, support industry, textile - garment, food, beverage, and logistics services.

Addressing the event, PM Chinh said Vietnam and Singapore have been recording thriving relations in all fields, including economic ties as seen in the VSIPs, of which the parks built later are more modern, towards green, sustainable, and inclusive development, which matches the trend of the Fourth Industrial Revolution.

He asked the Binh Duong administration and investors to form a new-generation industrial ecosystem associated with the Fourth Industrial Revolution as well as green, smart, sustainable, and inclusive development that leaves no one behind, thereby contributing to the Vietnam - Singapore partnership.

VSIP No. 3 should be built into a symbol of the two countries’ relations, deeply imbued with the hallmarks of Singapore, and bring about benefits to investors, local residents, and Binh Duong as a whole, the Government leader stressed.

The PM also told the province to continue creating optimal conditions for investors and ensure increasingly better material and spiritual life of local people, including those displaced to serve the project development.

The Government always provides the best possible conditions for businesses to invest and develop on the basis of Vietnam’s laws, the country’s commitments to the international community, along with international law, he said.

Vietnam has taken part in 16 free trade agreements, so investors will have not only the Vietnamese market but also a larger market generated by these 16 deals, according to the PM.

Also at the ceremony, PM Chinh witnessed the granting of investment registration certificates and memoranda of understanding to investors in the VSIP, including a 1 billion USD project of the LEGO Group.

The same day, the PM participated in a ceremony marking the construction and inauguration of some Becamex social housing projects in the province’s Thu Dau Mot city.

As a dynamic province in the southern key economic region, Binh Duong has more than 1.6 million workers at present.

To create favourable conditions for people to live and work, local authorities have paid attention to social housing development. So far, the province has attracted 86 social housing projects covering nearly 200ha of land, with about 3.9 million sq.m. of floor. However, the existing social housing has yet to meet demand in reality./.