VSIP becomes destination for multinational corporations

April, 06/2022 - 08:26

VSIP Binh Duong industrial park has attracted several multinational corporations looking to establish headquarters and factories.

VSIP Binh Duong industrial park has attracted several multinational corporations looking to establish headquarters and factories.

In 1996, the Vietnam - Singapore Industrial Park (VSIP) was established in Thuan An, Binh Duong Province.

With a total foreign direct investment of $6.4 billion and an estimated export turnover of $8 billion, VSIP Binh Duong has attracted almost 600 investors, creating nearly 150,000 jobs.

All VSIP Binh Duong's strategic partners are prominent companies and corporations from Viet Nam and worldwide.

KingMaker is a multinational corporation specialising in the design and manufacture of high-end shoes. The company factory stands in an area of 5.7 hectares in VSIP Binh Duong.

In addition to practical geographical aspects connecting traffic and logistics, the factory must satisfy strict standards from partners for clean and sustainable environmental criteria.

Vietnam Dairy Products Joint Stock Company, with 13 processing plants, also picked the VSIP Binh Duong industrial park to establish a large-scale and advanced milk powder facility.

Vinamilk has ranked 36th among the top 40 dairy firms globally in terms of revenue, with a brand value of about $2.4 billion.

Hoya is a Japanese brand that dates back to 1941. The company has offices in over 30 countries with almost 40,000 employees. Hoya was a medical device company that produced eyeglasses, medical endoscopes, intraocular lenses, optical lenses, and other products. Later, the company expanded into technology, manufacturing semiconductors, LCD panels, and hard drives.

Techtronic Industries, a member of TTI Group from Hong Kong (China), is a world leader in electrical tools, accessories, hand tools, and outdoor electrical equipment for repair, maintenance and construction.

The company has numerous plants in Binh Duong, with a total area of 16.8 hectares, the largest of which is the VSIP II-A factory, which has an area of one hectare and more than 1,000 employees.

Anheuser-Busch InBev (AB InBev), founded in 1366, is a Belgian brewer with 169,000 employees worldwide. It has two factories in Viet Nam, one in the VSIP industrial park and the other in the My Phuoc industrial park, with more than 10 hectares and 400 employees.

In Viet Nam, AB InBev beer brands include Budweiser, Hoegaarden, Beck's, Leffe, Corona, and Stella Artois. Especially, AB InBev's factory at VSIP is one of the first in the country to use 100 per cent solar energy in production.

Tetra Pak is a Swedish international food manufacturing and packaging company headquartered in Lund, Sweden, and Pully, Switzerland.

The €120 million Tetra Pak Binh Duong paper box factory in VSIP, launched in mid-2019, became Tetra Pak's eighth factory in the Asia-Pacific region. The factory produces sterile paper boxes for the domestic market and exports to ASEAN, Australia, and New Zealand.

The Lego Corporation will establish a facility at VSIP. It will be Lego's first carbon-neutral plant, including solar energy production as part of the plan.

The project has a total investment of more than $1 billion and is expected to be deployed in the second half of 2022 and begin operation in 2024.

This will be Lego's sixth facility worldwide and its second in Asia, allowing it to expand its supply chain network to its core and global markets.

VSIP has devised a strategy to create green, smart, and sustainable industrial parks, thus assisting businesses and partners in economic development.

Nguyen Phu Thinh, General Director of the Vietnam - Singapore Industrial Park Limited Company, stated that VSIP would develop a diversification of services and utilities to complete and diversify the model of industrial - urban - service complexes.

"We will focus on building residential areas, completing a series of utilities, services, and parks with high standards, and putting people first to provide the optimal living, working, learning, and playing environment," said Thinh.