HCMC – Can Tho City aims to draw at least four secondary investors to its Vietnam-Singapore Industrial Park (VSIP) this year, with total pledged capital of around US$400 million.
Bestway, one of the investors, has signed an agreement to invest US$300 million, while three others have committed to invest a combined US$100 million once land use rights are approved, reported the Vietnam News Agency.
The city’s government said it would support developers by resolving administrative hurdles and accelerating land procedures. The Can Tho Export Processing and Industrial Zones Authority has been assigned as the primary point of contact.
Bestway is expected to begin work on its facility on August 18. The facility is projected to employ more than 5,000 people and generate US$500 million in annual revenue.
Developers also proposed using sea sand for ground leveling. Authorities approved the proposal in principle and will review a pilot use covering 15 hectares before final approval.
VSIP Can Tho began construction in September 2023. The 290-hectare project is backed by Investment and Industrial Development Corporation, Vietnam-Singapore Industrial Park JV Company, and Vietnam Singapore Industrial Park and Township Development JSC. It has a total investment of over VND3.7 trillion (about US$160 million).
The project is scheduled to be completed within 36 months of land handover and will operate under a 50-year license. VSIP Can Tho has signed preliminary deals with nearly 20 potential investors covering about 100 hectares.
