The Bank for Investment and Development of Vietnam (BIDV) and Viet 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 VND4.6 trillion (US$200 million) in the southern province of Binh Duong.

The park is the third VSIP in Binh Duong – a major industrial hub of Viet Nam, and the 11th in the country. Invested with over VND13.3 trillion in total, it will cover 1,000ha in Bac Tan Uyen District.

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