Awarding investment policy decision for VSIP project worth over 1,555 billion VND in Ha Tinh

Under the witness of Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong, Minister of Planning and Investment Nguyen Chi Dung handed over the investment policy decision for the Bac Thach Ha Industrial Park Infrastructure Construction and Business Project (Ha Tinh); the investor is Vietnam Singapore Industrial Park and Urban Development Joint Stock Company (VSIP).

On the morning of August 29, in Hanoi, the Ministry of Planning and Investment, the Government Office , and the Embassy of the Republic of Singapore in Vietnam held a conference to promote the implementation of Vietnam-Singapore investment cooperation projects.

Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong attended the conference. Also attending were more than 500 delegates, including leaders of ministries, sectors, provinces, cities, and more than 150 businesses from Vietnam and Singapore.

On Ha Tinh side, there were Central Party Committee member, Provincial Party Secretary Hoang Trung Dung; Provincial People's Committee Chairman Vo Trong Hai; Provincial People's Committee Vice Chairman Tran Bao Ha and leaders of a number of departments, branches and localities attending the conference.

Speaking at the conference, Prime Minister Lee Hsien Loong affirmed that Singapore is very happy and honored to contribute to the development of Vietnam in recent times. 10 years ago, he attended the groundbreaking ceremony of VSIP Quang Ngai, the 5th VSIP at that time and since then, VSIP zones have continued to develop strongly with 13 zones in 9 provinces and cities across Vietnam, attracting a total investment capital of 18 billion USD and creating 300,000 jobs.

Prime Minister Lee Hsien Loong speaks at the conference. Photo: VGP/Nhat Bac.

Prime Minister Lee Hsien Loong hopes that VSIPs will continue to contribute to Vietnam's economic growth; at the same time, contribute to bilateral economic cooperation between Vietnam and Singapore.

At the conference, Prime Minister Pham Minh Chinh emphasized that over the past 50 years of cultivation and development, the Vietnam-Singapore friendship and cooperation have been continuously consolidated and developed well and comprehensively; at the same time, they continue to reach new heights based on the sharing of strategic interests, cooperation achievements, and solid friendship between the two countries.

Prime Minister Pham Minh Chinh speaks at the conference. Photo: VGP/Nhat Bac.

In terms of investment, with more than 3,300 projects and 73 billion USD in registered capital, Singapore ranks 2nd out of 143 countries and territories investing in Vietnam. Singaporean investors have participated in most economic sectors and fields and have always seriously implemented projects on schedule and achieved high efficiency.

Vietnamese investors have invested in Singapore in more than 150 projects with a total registered investment capital of nearly 700 million USD, mainly focusing on professional activities and science and technology.

Of these, 11 Vietnam - Singapore Industrial Parks (VSIPs) have come into operation, creating an important driving force in attracting investment and socio-economic development, and at the same time serving as a model for effective, sustainable and long-term cooperation between the two sides.

At the conference, witnessed by Prime Minister Pham Minh Chinh, Prime Minister Lee Hsien Loong and other leaders, Minister of Planning and Investment Nguyen Chi Dung presented the decision approving the investment policy for new VSIP projects in Ha Tinh, Lang Son, Thai Binh and Binh Thuan.

Minister of Planning and Investment Nguyen Chi Dung presents decisions approving investment policies for projects in Ha Tinh, Lang Son, Thai Binh and Binh Thuan. Photo: VGP/Nhat Bac.

Accordingly, Decision 1003/QD-TTg of the Prime Minister dated August 29, 2023 on the investment policy of the Bac Thach Ha Industrial Park Infrastructure Construction and Business Investment Project (Phase 1), approved the project investment policy and approved the investor as Vietnam Singapore Urban and Industrial Park Development Joint Stock Company (VSIP).

The project's objective is to invest in the construction and business of industrial park infrastructure. The total investment capital of the project is 1,555,512 billion VND, of which the investor's capital contribution is 233,326 billion VND. The project's land use scale is 190.41 hectares. The project's operating period is 50 years.

Ha Tinh delegates attended the conference.

The conference on the morning of August 29 launched the Vietnam - Singapore Innovation Center. The leaders also witnessed the announcement of the Vietnam - Singapore investment cooperation memorandum and the groundbreaking ceremony of new VSIP projects including VSIP Can Tho, VSIP Bac Ninh 2 and VSIP Nghe An 2.

Ngoc Loan

Source: https://baohatinh.vn/dau-tu/trao-quyet-dinh-chu-truong-dau-tu-du-an-vsip-hon-1-555-ty-dong-tai-ha-tinh/253505.htm