New IP the seventh Vietnam - Singapore Industrial Park in Vietnam.
The Vietnam - Singapore Industrial Park (VSIP) held a press conference on September 16 to announce that ground has been broken at its seventh IP project, in northern Nghe An province.
The project will be conducted by VSIP Nghe An Ltd., a VSIP subsidiary.
The first phase of the $30 million project was approved by the Nghe An Provincial People’s Committee in June, with 198 ha for industrial purposes and 81 ha for an urban area and services.
VSIP Nghe An will have 750 ha in total and be implemented in a number of phases.
The first tenant at VSIP Nghe An will be the TDV Corporation, which manufactures bathroom equipment, with ground to be broken in the second quarter of 2016.
Mr. Anthony Tan, General Director of VSIP Nghe An, said that he expected the IP to see full occupancy within the next three or four years.
Regarding workforce, Mr. Tan said this is a matter investors must address, with VSIP acting as a bridge between the investor and State agencies to handle related issues.