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Singapore, Vietnam break ground on joint industrial park
The Straits Times
|March 27, 2025
Singapore and Vietnam announced the virtual groundbreaking of the Vietnam-Singapore Industrial Park (VSIP) in Thai Binh province on March 26.
Singapore and Vietnam announced the virtual groundbreaking of the Vietnam-Singapore Industrial Park (VSIP) in Thai Binh province on March 26.
The 333ha VSIP Thai Binh is one of the 20 VSIPs that are a key plank of the two countries' relationship.
VSIP Thai Binh is nestled within northern Vietnam's growing industrial ecosystem and is set to become a key satellite industrial park, supporting a broad network of manufacturers and suppliers across high-value sectors such as electronic components, precision engineering and renewable energy.
Industrial land at VSIP Thai Binh will be available for handover to customers in 2026.
"The VSIPs have been the cornerstone of our bilateral cooperation for almost three decades," said Prime Minister Lawrence Wong at the virtual groundbreaking ceremony alongside Vietnamese Prime Minister Pham Minh Chinh.
"From the beginning, they have set the benchmark for industrial park development in Vietnam providing international-standard infrastructure to investors, enabling them to establish operations seamlessly," he added.
Both prime ministers had a meeting at the Office of Government before the ceremony, and they discussed ways to further strengthen the relationship.
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