Deputy Prime Minister Trần Hồng Hà (centre) and delegates press the project start button on Tuesday in Thạch Hà District in the coastal central province of Hà Tĩnh.—VNA/VNS Photo Công Tường
A ground-breaking ceremony for the Việt Nam – Singapore Industrial Park (VSIP) Hà Tĩnh under the Bắc Thạch Hà Industrial Park Infrastructure Investment and Business Construction Project was launched in Thạch Hà District in the coastal central province of Hà Tĩnh on Tuesday.
The ceremony was organised by the provincial People’s Committee and Việt Nam Singapore Industrial Park and Township Development Joint Stock Company (VSIP JSC).
The total investment for the project is VNĐ1.55 trillion (US$61 million) and will cover a total area of over 190 ha, in the two communes of Thạch Liên and Việt Tiến.
Speaking at the ceremony, Deputy Prime Minister Trần Hồng Hà said: “This is not only a significant event that accelerates the industrialisation and urbanisation process, making Hà Tĩnh a modern industrial province with sustainable development as well as one of the growth poles of the coastal north central and south central regions but also a vivid testament to the effective and enduring cooperation between Việt Nam and Singapore over the past 50 years."
The project, where the company is the main investor, was approved under Decision No. 1003/QĐ-TTg dated August 29, 2023, by the Prime Minister.
VSIP Hà Tĩnh was expected to attract domestic and foreign investors in sectors such as electronics, semiconductors, precision mechanics, energy, electric vehicle batteries, automotive components, food processing, warehousing services and factory rentals.
It is hoped it will create over 30,000 jobs, driving economic restructuring and development in the province.
Hà said he hoped the project would serve as a model for green, smart and modern industrial park.
“In addition to State policies on compensation, support and ensuring public safety, the investor is encouraged to prioritise local labour training and recruitment, as well as resettlement in coordinated urban areas,” he added.
He urged the local authorities continue administrative reform and improvement of the investment environment, providing full support to business communities to make the province an attractive investment destination, facilitating the timely implementation and operation of the project to contribute to the province's socio-economic development.
Also at the ceremony, Tan Cheng Guan, Executive Vice President of Sembcorp Industries Group, representing the investor, said Hà Tĩnh was emerging as a new industrial hub in the region.
Its strategic geographic location played a crucial role in connecting the East-West economic corridor linking the central region of Việt Nam, Laos and the northeast region of Thailand.
He believed that VSIP Hà Tĩnh could act as a catalyst and main driving force to achieve the province's set objectives.
The investor would bring VSIP's sustainable industrial park development model to the province, promoting carbon reduction solutions and energy efficiency in the transition towards green manufacturing, he said.
Võ Trọng Hải, Chairman of the Provincial People's Committee said the province was striving to create an investment environment that was open, friendly and conducive.
“We are leveraging our potential and advantages, intensifying resource mobilisation to invest in upgrading infrastructure, particularly transportation networks, industrial cluster infrastructure and seaports,” Hải said.
It aimed to form the foundation to attract and effectively implement investment projects across the province.
“With utmost responsibility, we commit to closely coordinating with investors, providing the most favourable conditions and expediting procedures to ensure investors meet project deadlines,” he said.— VNS