An industrial park in Đà Nẵng City. The city has approved an investment proposal by the Việt Nam–Singapore Industrial Park (VSIP) joint venture to develop the Điện Tiến Industrial Park. Photo courtesy of Đà Nẵng Portal

ĐÀ NẴNG – The central city has approved an investment proposal by the Việt Nam–Singapore Industrial Park (VSIP) joint venture to develop infrastructure for the Điện Tiến Industrial Park in Điện Bàn Bắc Ward, with a total investment of US$138.15 million.

The Đà Nẵng Special Economic Zone Authority (DSEZA) said the project was approved within just 57 days after the investor submitted its proposal. Construction will take place from the fourth quarter of 2026 to the second quarter of 2028 on a 249.8ha site.

According to DSEZA, the Điện Tiến Industrial Park will be designed to attract investment in high-tech industries, automobile assembly, supporting industries, mechanical engineering and energy production.

VSIP has also received investment registration certificates to develop five new industrial parks in Hải Phòng, Nghệ An, Huế, Hà Nam and HCM City.

Since its establishment in 1996, the joint venture has expanded its network to 26 industrial parks, urban areas and service zones covering a total of 14,300ha, with an estimated cumulative investment exceeding $23 billion.

DSEZA also reported that it had attracted three investors to four functional areas of the Đà Nẵng Free Trade Zone, with total investment exceeding US$600 million. The authority planned to continue calling for investment in the remaining three functional areas throughout 2026.

Meanwhile, the Sài Gòn–Đà Nẵng Investment Joint Stock Corporation has signed a memorandum of understanding (MoU) with Singapore's YCH Group Pte Ltd to develop the second functional area of the Đà Nẵng Free Trade Zone 2 (FTZ2), also known as Eagle FTZ. VNS