Kelvin Teo, CEO of Sembcorp Development and Co-chairman of Vietnam-Singapore Industrial Park Group. (Photo: VNA) Binh Duong (VNA) – Vietnam ismaking a name for itself as a dynamic emerging country in Asia with politicalstability and a growing economy, Kelvin Teo, CEO of Sembcorp Development andCo-chairman of Vietnam-Singapore Industrial Park Group said in a recentinterview with Vietnam News Agency (VNA).
He said Vietnam has done especially well insigning several important bilateral trade agreements (FTAs) that will increaseits global integration and extend this advantage to foreign investors.
Vietnam’s middle class is also growing, makingthe domestic market attractive for foreign goods, he added.
Sembcorp is jointly operating the VSIP brand ofintegrated townships and industrial parks across the country, with nine VSIPprojects across the southern, central and northern economic zones of Vietnam,including two VSIP expansions in Binh Duong and Bac Ninh provinces, Kelvin Teosaid.
The increase in FDI from the manufacturingsector has led to higher occupancy levels at the VSIPs; hence, the company hasexpanded in Binh Duong and Bac Ninh provinces, he told VNA, adding his companyis in the process of reviewing master plans for approval before launching.
“We are exploring a new industrial park designwhich is more sustainable in the form of energy efficiency and smartness so asto help our industrial tenants operate more competitively,” he said.
To do this, Sembcorp recently established arepresentative office in Hanoi to bring more urban development solutions toVietnam, according to Kelvin Teo.
He said Sembcorp also has strength in energy,so there are a lot of opportunities to scale up in Vietnam and support thecountry’s industrialisation.
The Singaporean business executive added thatSembcorp has admiration for the way the Vietnamese Government, both at thecentral and local levels, work with foreign investors to understand their needsand support their plans.
There have been completions to severalprovincial airports, major highways and bridges in the country. Suchinfrastructure completions are critical as they enable businesses andcommunities to capitalise on connectivity between cities and provinces, hesaid./.
VNA
