Việt Nam News

$200 million channeled into Việt Nam-Singapore III in Bình Dương

August 23, 2022 - 11:00

The park is the third VSIP in Bình Dương – a major industrial hub of Viet Nam, and the 11th in the country. Invested with over VNĐ13.3 trillion in total, it will cover 1,000ha in Bắc Tân Uyên District.

The signing ceremony on Monday. — Photo plo.vn

BÌNH DƯƠNG — The Bank for Investment and Development of Vietnam (BIDV) and Việt Nam-Singapore Industrial Park (VSIP) Joint Venture Company Limited on Monday signed a credit contract to sponsor an investment project on the construction of VSIP III worth VNĐ4.6 trillion (US$200 million) in the southern province of Bình Dương.

The park will have green and smart infrastructure to attract investment to the sectors of electricity, electronics, vehicle production and assembly, mechanics, support industry, textile - garment, food, beverage, and logistics services.

To date, it has attracted a series of massive projects, including the Danish-based LEGO Group’s $1-billion carbon neutral factory which spans 44ha, and a $100-million jewellery manufacturing facility of the Pandora Vietnam group.

The 11 VSIPs across the nation cover 10,000ha, attract $17 billion and 880 clients from 30 countries and territories, and create 295,000 jobs. — VNS

Factors influencing Việt Nam’s FMCG market

Economy

Province seeks to bring its OCOP products into modern retail

Economy

Cooling equipment market heats up to welcome summer

Economy

Quảng Ninh attracts additional $115 million from Japan investors

Economy

Chu Lai Port helps take Vietnamese agricultural products to global market

Economy

Việt Nam to have many opportunities from digitalisation, green transformation: IMF

More on this story

Economy

Firms must work to fully benefit from UKVFTA

The UK-Vietnam Free Trade Agreement (UKFTA) has given a big push to Vietnamese exports, but insiders said firms still have much to do to make the most of the deal.

Economy

More efforts needed to bring down transport fees

More efforts are required to bring down transportation fees after petrol prices were cut five consecutive times.

Economy

VietnamWood slated for October in HCM City

VietnamWood 2022 will introduce cutting-edge technologies, solutions, and innovations by exhibitors from 22 countries and regions from around the world, including Germany, Austria, the United States, France, Canada, and Taiwan (China).

Economy

Vietnamese retail giants see opportunities in domestic market

In the first seven months, total retail sales are estimated at VNĐ3.2 quadrillion, up 16 per cent compared to last year.

Economy

Development of logistics competitive index aims to develop logistics industry

The launch of the Vietnam Provincial Logistics Competitiveness Index (LCI) is expected to help reduce logistics costs, support production and export development, and attract foreign investment more effectively in the future

Economy

Finance ministry sets targets for banking system

The MoF will coordinate with other ministries to set regulations on capital increases for State-owned credit institutions, especially the Bank for Agriculture and Rural Development of Vietnam (Agribank).

Economy

Việt Nam-RoK cooperation should focus on technology transfer: expert

The RoK – Viet Nam bilateral relations have developed strongly over the past three decades and reaped fruitful achievements, especially in terms of economics.

Economy

Vietnamese exporters urged to adapt to protectionist measures from Australia

Vietnamese exporters need to be well prepared for any risks from protectionist trade measures from Australia against Vietnamese goods, such as anti-dumping and anti-subsidy policies, mostly in steel products, experts said.

Economy

Shares slide on heavy selling force

Vietnamese stocks slipped on Monday, with banking shares extending falls and steel stocks tumbling, pressuring the indices amid a strong selling force.