VSIP III - Binh Duong Working To Be Greenest and Most Sustainable Industrial Park in Vietnam

To foster sustainable economic growth and become a modern industrial center and smart city of the country, Binh Duong province is promoting a green, smart, sustainable and inclusive industrial park ecosystem. To capture this opportunity, the Vietnam-Singapore Industrial Park (VSIP) Group started construction of VSIP III Industrial Park in Tan Uyen Town and Bac Tan Uyen District, the third VSIP-branded industrial park in Binh Duong and the 11th in Vietnam.

As a symbol of friendship and intimacy in economic development between Vietnam and Singapore, Vietnam-Singapore Industrial Parks (VSIPs) are developed by a joint venture of Becamex IDC Corporation (Vietnam) and a consortium of Singapore-led investors represented by Sembcorp Development Group. After more than 25 years of development, VSIP Group has so far developed 11 industrial, urban and service zones, becoming one of the leading industrial and urban zone developers in Vietnam and an important contributor to renovation, integration, industrialization and modernization of Vietnam.

From the first VSIP in Thuan An City, the total land fund of VSIP Group has been expanded to nearly 10,000 ha in Binh Duong province - a prime location of the Southern Economic Corridor; in northern Vietnam (Bac Ninh province, Hai Phong City and Hai Duong province); and in central Vietnam (Quang Ngai province, Nghe An province, Binh Dinh province and Quang Tri province). VSIPs are providing production infrastructure for 880 businesses from 30 countries, which invested US$17 billion and employed 295,000 workers. VSIPs have helped raise the quality of life for Vietnamese people. They are considered model manufacturing destinations for many global corporations such as Microsoft, Pepsi and Unilever.

Following its success with VSIPs and adopting more sustainable business approaches, VSIP Group started construction of 1,000-ha VSIP III in Tan Uyen Town and Bac Tan Uyen District. Lying near the other two VSIPs and the new Binh Duong City Center and situated on ring road 4 with easy access to My Phuoc - Tan Van Highway, VSIP III - Binh Duong is conveniently connected to seaports, airports and to Dong Nai and Ba Ria - Vung Tau provinces.

With a vision to be a model of a smart sustainable industrial park, VSIP III - Binh Duong is designed to integrate smart technology in its activities, from energy, water and waste to traffic management and security. The use of real-time monitoring devices to monitor, analyze and optimize performance remotely enhances monitoring of activities and helps keep the industrial park more secure, reliable and efficient for customers and employees. Phase 1 covers 100 ha, certified the Green Mark Certificate of the Singapore Construction Authority (BCA) for industrial zones, proving it as one of the greenest and most sustainable working environments in Vietnam.

Another outstanding feature of VSIP III - Binh Duong is the 50-ha solar farm that enhances the reliability and sustainability of power supply to major customers in this industrial park. The first customer of the industrial park to access the planned solar farm is LEGO Group of Denmark, which invested over US$1 billion to build a 44-ha production factory project. Up to now, 31 domestic and foreign companies are keen on exploring the chance of investing US$1.8 billion to develop production on 176 ha in VSIP III - Binh Duong.

Sharing about the future development strategy, Mr. Nguyen Phu Thinh, General Director of Vietnam-Singapore Industrial Park Joint Venture Company, said that in the coming time, in addition to developing traditional industries and applying modern technologies, VSIP will develop and diversify services and utilities to form an industrial-urban-service complex. Smart devices and technology applications will help upgrade a conventional industrial model to a green, smart and sustainable industrial area model.

Speaking at the groundbreaking ceremony of VSIP III - Binh Duong, Prime Minister Pham Minh Chinh highly appreciated the development potential and growth engine of VSIP III in the southern key economic region and the country. Once completed and put into operation, VSIP III will become a leading light, an engine of economic growth and an enabler of the local real estate market, and bring true value to local residents This very important project will also play a central role in promoting the strong growth of local industries and services and importantly helping Binh Duong province achieve its strategic goals in the coming time. "With such a role and importance, the successful operation of VSIP III will help foster socioeconomic development of Binh Duong province, the southern region and the country. The project not only helps promote the overall development of industries and services, but also facilitates innovation, accelerates Industry 4.0 and sustainable development and offers a new growth platform for Vietnam," he said.

By Vietnam Business Forum