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| Singaporean President Halimah Yacob listens to the introduction about VSIP Bac Ninh. (Photo: VNA) |
Welcoming the Singaporean President, Secretary of the provincial Party Committee Nguyen Anh Tuan said that with its favorable geopolitical position and business environment, Bac Ninh has attracted nearly 1,800 foreign-invested projects worth over USD2.29 billion from 38 countries and territories. There are currently 16 industrial parks in the province, two of which are invested by VSIP. “The success of VSIP Bac Ninh is a living proof of Vietnam - Singapore cooperation,” he said.
Singapore is now the third biggest investor in Bac Ninh with over 55 projects valued at USD1.98 billion USD, or 8.65% of the total foreign direct investment in the province, mostly in manufacturing and processing, hi-tech, clean and eco-friendly technology, industrial and urban infrastructure. In the first nine months of 2022, the production and business activities of Singaporean enterprises in Bac Ninh saw a strong recovery. Bac Ninh’s industrial production is estimated at USD1 billion, while the sector employs about 12,000 workers.
The Secretary of the Bac Ninh Provincial Party Committee congratulated the success of talks between the President of Singapore and President Nguyen Xuan Phuc, and the meetings with Party General Secretary Nguyen Phu Trong, Prime Minister Pham Minh Chinh, and Chairman of the National Assembly Vuong Dinh Hue. “Cooperation between Singapore - Vietnam is increasingly effective and substantive in all fields, in which trade and investment cooperation is a bright spot,” he added.
Stressing that the Singaporean President’s visit takes place at a time when the two countries are looking towards the 50th anniversary of diplomatic ties and the 10th anniversary of their bilateral strategic partnership next year, he suggested the Singaporean President support activities at VSIP Bac Ninh, and make it easier for Singaporean investors and firms to continue doing business in the province in the near future, particularly those in the fields of digital transformation, energy and green transition, as agreed during her talks with President Nguyen Xuan Phuc.
At the meeting, President Halimah Yacob highly appreciated the development of VSIP Group in Vietnam and discussed with representatives of VSIP Group about: investment projects in VSIP Industrial Parks in Vietnam including Bac Ninh; future development orientation of the Group; and the role of local government in the development of projects in the industrial parks.
On this occasion, President Halimah Yacob and the delegation visited VSIP Bac Ninh Industrial Park.
VSIP Group is investing in 11 industrial-urban infrastructure projects in eight cities and provinces over a total area of 10,000ha, attracting over 900 investors from 30 countries with total FDI of more than USD17 billion and generating jobs for over 300,000 workers. In Bac Ninh, VSIP invests in VSIP Bac Ninh in Tu Son city and VSIP Bac Ninh II in Yen Phong district, being a modern urban-industrial complex with a total area of 700 hectares. Up to now, after 15 years of operation, the Industrial Park has attracted 125 secondary projects with a total investment capital of USD2.5 billion, creating jobs for nearly 40,000 workers. VSIP Bac Ninh II Industrial Park is in the process of site clearance and infrastructure construction./.