Sembcorp JV pens MOUs for industrial park development in Vietnam

The projects will enhance their socio-economic development.

The Vietnam Singapore Industrial Park J.V. Co. (VSIP), a joint venture of Sembcorp Industries and Becamex IDC Corporation, signed Memoranda of Understanding (MOUs) with the leaders of nine provinces of Vietnam to engage in feasibility studies for smart and sustainable industrial parks.

The collaborations sought to enhance the socio-economic development of the nine provinces through higher-value manufacturing, job creation, and the development of new urban areas to support the growing communities.

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The MOUs cover the provinces of Binh Phuoc, Tay Ninh, and Binh Thuan in the south; Khanh Hoa and Thua Thien Hue in the central; Ha Tinh and Thanh Hoa in the north-central; and Thai Binh and Nam Dinh in the north.

“Projects that are feasible will progress to a cooperation agreement and are subject to the award of the investment registration certificate from the central government,” Sembcorp Industries said.