VSIP

Background information to the Vietnam Singapore Industrial Park programme

The Vietnam Singapore Industrial Park (VSIP) is a world-class industrial park that was initiated by the Governments of Vietnam and Singapore. In March 1994, the VSIP project was first proposed by former Vietnamese Prime Minister Vo Van Kiet to his contemporary Singaporean counterpart Goh Chok Tong. Almost two years later, the project was officially launched on January 31, 1996 in Singapore. On 14 May 1996, the two Prime Ministers gathered again at the project site in Binh Duong to attend the groundbreaking ceremony of the first part of the project, VSIP I, (500ha). For the past 14 years of development, VSIP I has become the leading industrial park in Vietnam, and has proven to be a very attractive investment destination, technology transfer and environment protection for many multinational companies for the domestic as well as export markets.

Purpose of the VSIPs: How do both countries benefit?

The park was build to forge closer ties between Singapore and Vietnam. It was also to build strategic partnership such as politics, economics, security, defence and other co-operate projects.

Special features

The park is one of the urban developments, transforming the landscape with improved urban planning and modern facilities. It is also Uniquely integrating industrial, commercial and residential. It is also's Singapore's urban developments which is  localised to suit the demands of Vietnam's rapid urbanisation on the back of industrialisation.

Special Features

• Exclusive government-appointed Investment Management Board to fast track business licenses
• Proximity to sea and air ports
• On-site customs office and logistics services
• Supply of skilled workers via the Vietnam Singapore Technical School

Done by: Group 4