VSIP II - Binh Duong. — File Photo

HCM CITY (Biz Hub) — Authorities in the Mekong province of Tra Vinh have agreed with their Binh Duong counterparts to build a Viet Nam – Singapore Industrial Park, of which there are already three in the country.

Speaking at a meeting between the two provincial officials last week, a spokesman for the Tra Vinh People's Committee said park would seek to develop Tra Vinh into a centre for processing farm and forestry produce and aquaculture and one that consume these materials produced by the delta's 13 provinces. The VSIP model, which has been embraced by many localities across the country, has helped attract investments, he said.

The VSIP, built by a joint venture between Singaporean Sembcorp Development and Vietnamese developer Becamex IDC, was first built in Binh Duong and then Nghe An and Quang Ngai provinces. Nguyen Van Hung, president of Becamex, told Tra Vinh officials about his company's experience in signing deals with Singaporean partners, building VSIP in other provinces, and what Tra Vinh should do when building a similar.

The three VSIPs have managed to attract a lot of foreign direct investment, he added. — VNS