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| Leaders of Vietnam and Singapore extending their congratulations after the cooperation agreements were signed |
The exchanged and signed documents covered a wide range of areas, including a Memorandum of Understanding (MoU) between Vietnam’s Ministry of Foreign Affairs and Singapore’s Public Service Division; a Joint Declaration on Strengthening Supply Chain Resilience Between Vietnam’s Ministry of Industry and Trade and Singapore’s Ministry in charge of Energy, Science & Technology; a MoU of cooperation signed between the Supreme People’s Court of the Socialist Republic of Vietnam and the Supreme Court of Singapore; Terms of Reference for Vietnam-Singapore Cooperation on Agriculture and Food Commerce; a MoU on the Establishment of an Advanced Manufacturing Research Center between Becamex Group and A*Star; Investment Certificates for VSIP projects in Hue, Nghe An, Ninh Binh, Hai Phong, and Ho Chi Minh City, a MoU on Education Cooperation between Vietnam’s Ministry of Education and Training and Nanyang Technological University; as well as a MoU on cooperation between the Communist Party of Vietnam and Singapore’s People’s Action Party.
Among the documents exchanged, one of the most significant was the Investment Registration Certificate for the Infrastructure Development and Operation of VSIP Hue Industrial Park.
According to a decision of Hue City People’s Committee, Vietnam-Singapore Industrial Park (VSIP) Joint Venture Co., Ltd. has been appointed as the project developer. The project carries a total investment of around VND 3.075 trillion, equivalent to USD 123 million.
VSIP Hue Industrial Park will be located in Hung Loc and Loc An Communes, within the planned area of La Son Industrial Park approved by the Prime Minister. The project benefits from strategic connectivity to National Highway 1, La Son-Tuy Loan Expressway, and key transport routes across Hue, enhancing its potential to develop a more synchronic industrial infrastructure and attract investors.
In terms of capital, the investor will contribute approximately VND 462 billion, accounting for 15% of the total investment capital, while the remaining VND 2.613 trillion will be mobilized from other funding sources. The project is expected to be completed and put into operation within 5 years from the date the land is officially leased and handed over by the State.
Under the project schedule, the project will complete its investment preparation procedures in the third quarter of 2026 and break ground in the fourth quarter. The construction is expected to finish and be put into operation by the second quarter of 2031.
VSIP, a Vietnam-Singapore joint venture industrial park brand, has established a successful presence in numerous localities across the country. The development of VSIP Hue is expected to provide fresh momentum for industrial infrastructure development, enhance the city’s competitiveness in attracting foreign investment, and support Hue’s long-term strategy of promoting green and high-tech industries.