VSIP joint venture gets green light for five new industrial parks

The ceremony took place on May 29 during the state visit of Party General Secretary and State President To Lam to Singapore, in the presence of Singapore Prime Minister Lawrence Wong.

Representatives of the Vietnamese and Singaporean governments congratulated the cooperation between the two countries

Under the newly approved investment plan, the VSIP joint venture will develop five new industrial parks in Haiphong, Nghe An, Hue, Ha Nam and Ho Chi Minh City.

These licences propel the VSIP network to 26 projects nationwide, marking a significant stride towards the ’30 by 30′ goal, a strategic vision to reach 30 developments in time for VSIP’s 30^th anniversary in 2026, as envisioned by the leaders of both governments.

As international markets adopt stricter requirements such as the Carbon Border Adjustment Mechanism (CBAM), environmental, social, and governance (ESG) standards, and net-zero targets, VSIP has advanced its industrial ecosystem.

Since 2023, smart industrial park models featuring integrated management solutions have been deployed, notably at VSIP III Binh Duong.

Today, VSIP is further accelerating its transition towards the VSIP 2.0 vision, offering a differentiated portfolio that meets diverse industry requirements and long-term sustainability ambitions.

At the Vietnam-Singapore Tech Connect Forum, held in Singapore as part of the working visit by a high-ranking Vietnamese delegation led by Party General Secretary and State President To Lam, VSIP introduced the VSIP 2.0 model, signalling a strategic shift towards higher-value, innovation-driven ecosystems.

A defining feature of VSIP 2.0 is the activation of the triple-helix model, which synchronizes the efforts of government, academia, and industry. By bridging the gap between research-linked commercialisation and industrial application, VSIP 2.0 ensures that tenants are not merely competing on cost but are integrated into a future-ready talent and technology pipeline.

This vision was translated into immediate action at the forum through the exchange of MoUs with Luxshare and Coherent. These partnerships reflect the triple-helix in motion, combining smart industrial operations with digital transformation and innovation-led manufacturing to build a fully integrated, rather than fragmented, industrial landscape.

Those new projects include:

Vinh Lap IP (VSIP IV Binh Duong): Strategically located in Ho Chi Minh City, serving as a key industrial gateway north of Ho Chi Minh City. As a multi-industry hub, it prioritises high-value manufacturing and advanced processing. In line with the VSIP 2.0 vision, it is designed to evolve into a next-generation model integrating smart infrastructure and sustainable operations.

Ha Nam High-tech Park (VSIP Ha Nam) is Vietnam’s fifth high-tech park focusing on AI and semiconductors. Developed in Ninh Binh province, this is the fifth high-tech park of its kind in Vietnam designed to attract specialised industries including AI, electronics, semiconductors, and biotechnology. It features three functional zones: a high-tech research and testing zone; a production and high-tech application zone; and a startup and innovation centre.

Tien Lang 2 IP (VSIP Haiphong II) which was approved by Haiphong as an eco-industrial park, focusing on clean and low-emission industries. The project is designed to support efficient resource use and reduce environmental impact, providing a competitive advantage for businesses facing global ESG mandates like CBAM.

Tho Loc IP – Phase 2 (VSIP Nghe An IV) is VSIP’s fourth project in Nghe An province, marking a strategic expansion of the province’s industrial capacity. This project reinforces VSIP’s long-term commitment to Nghe An following the 2025 approval of VSIP III Nghe An.

VSIP Hue IP is a green and smart IP covering 467 hectares in Hue. Located adjacent to La Son–Tuy Loan Expressway and National Highway No.14B, it offers seamless connectivity to major economic centres and functional zones in the central region.

Sembcorp Development secures licence for VSIP in Khanh Hoa On December 31, Sembcorp Development (a wholly-owned subsidiary of Sembcorp Industries), in partnership with Becamex IDC Corporation, received an investment licence to develop a new Vietnam-Singapore Industrial Park (VSIP) in Khanh Hoa Province.

Sembcorp Development gains approval for VSIP Hue On January 29, Sembcorp Development, through its Vietnam Singapore Industrial Park (VSIP) joint venture with Becamex IDC, has received approval to develop VSIP Hue, a 467-hectare industrial park in central Vietnam.

Singapore to expand VSIP presence in Vietnam to 30 parks Singapore will increase the number of Vietnam-Singapore Industrial Parks to 30 this year, Singaporean Prime Minister Lawrence Wong said during phone talks with his Vietnamese counterpart.