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Binh Duong to start work on third Vietnam-Singapore IP in mid-March

The Saigon Times

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HCMC – Binh Duong Province will break ground on the third Vietnam-Singapore industrial park (VSIP 3) project in mid-March, heard a press briefing held by the provincial government today, March 4.

VSIP 3 will cover some 1,000 hectares of land in Hoi Nghia Commune in Tan Uyen Town and Tan Lap Commune in Bac Tan Uyen District.

This is the 10th project that has been invested in Vietnam by VSIP Group, the local media reported.

Binh Duong Province is now home to VSIPs 1 and 2, which are among the major well-equipped industrial parks in the province.

Chairing the press briefing, Vo Van Minh, chairman of the Binh Duong government, said the province was also speeding up procedures to develop some key projects, including Ring Roads 3 and 4, the HCMC-Thu Dau Mot-Chon Thanh and My Phuoc-Tan Van expressways and the An Tay seaport.

These projects are expected to boost the province’s socio-economic growth and promote the post-Covid economic recovery.

Between January and February, Binh Duong Province’s industry production value expanded by 6.1% year-on-year, while its export and import values rose by 18.7% and 8.1%, respectively, year-on-year.

The province enjoyed a trade surplus of US$2 billion in the first two months of the year.

In the year to February 15, the province had attracted over VND7 trillion in domestic investment and US$47 million in foreign investment.

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