Sembcorp Development CEO talks about investment environment in Vietnam

Binh Duong (VNA) – Vietnam is making a name for itself as a dynamic emerging country in Asia with political stability and a growing economy, Kelvin Teo, CEO of Sembcorp Development and Co-chairman of Vietnam-Singapore Industrial Park Group said in a recent interview with Vietnam News Agency (VNA).

He said Vietnam has done especially well in signing several important bilateral trade agreements (FTAs) that will increase its global integration and extend this advantage to foreign investors.

Vietnam’s middle class is also growing, making the domestic market attractive for foreign goods, he added.

Sembcorp is jointly operating the VSIP brand of integrated townships and industrial parks across the country, with nine VSIP projects across the southern, central and northern economic zones of Vietnam, including two VSIP expansions in Binh Duong and Bac Ninh provinces, Kelvin Teo said.

The increase in FDI from the manufacturing sector has led to higher occupancy levels at the VSIPs; hence, the company has expanded in Binh Duong and Bac Ninh provinces, he told VNA, adding his company is in the process of reviewing master plans for approval before launching.

“We are exploring a new industrial park design which is more sustainable in the form of energy efficiency and smartness so as to help our industrial tenants operate more competitively,” he said.

To do this, Sembcorp recently established a representative office in Hanoi to bring more urban development solutions to Vietnam, 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 the country’s industrialisation.

The Singaporean business executive added that Sembcorp has admiration for the way the Vietnamese Government, both at the central and local levels, work with foreign investors to understand their needs and support their plans.

There have been completions to several provincial airports, major highways and bridges in the country. Such infrastructure completions are critical as they enable businesses and communities to capitalise on connectivity between cities and provinces, he said./.