Vietnam’s Upcoming Industrial Park: A $3.5 Billion Investment, Providing Employment for 100,000 People

This is the VSIP Can Tho Industrial Park.

The VSIP Can Tho Industrial Park received its investment registration certificate from the Can Tho People’s Committee on October 25, 2022. Three investors are involved in this project: the Corporation for Investment and Industrial Development, the Vietnam-Singapore Industrial Park Joint Venture Company, and the Vietnam-Singapore Urban and Industrial Zone Development Joint Stock Company. The project is located in Vinh Trinh, Vinh Thanh district.

Construction on the project began in September 2023. This is the 13th Vietnam-Singapore Industrial Park in the country and the first in the Mekong Delta. The first phase of the project covers an area of 293.7 hectares, with a total investment of VND 3,717 billion.

From the date of approval of the investment policy and the approval of the investor, the operation period of the VSIP Can Tho Industrial Park is 50 years. The project implementation period is not to exceed 36 months from the date of land handover by the State.

The VSIP Can Tho Industrial Park is planned with a total area of 900 hectares. It is expected that once completed, the park will create jobs for 100,000 laborers and attract $3.5 billion in investment. In the first phase, the project covers an area of 293.7 hectares and is expected to create jobs for 20,000-30,000 laborers.

The VSIP Can Tho Industrial Park is located at the strategic intersection of the north-south and east-west expressways of the Mekong Delta and borders three provinces: Dong Thap, An Giang, and Hau Giang. This location provides easy access to the system of ports, airports, and central city amenities.

As planned, the VSIP Can Tho Industrial Park is oriented to be built according to the model of a smart and sustainable industrial park and aims to become a large food processing and distribution center in the southern region. At the same time, it will establish a logistics network from the center to the port and supporting physical infrastructure to best support investors’ supply chain needs.

Hundreds of Millions of Dollars to Flow into Can Tho’s Largest Industrial Park

Can Tho city currently has seven existing industrial parks, including: Tra Noc 1 (135 ha), Tra Noc 2 (155 ha), Hung Phu 1 (262 ha), Hung Phu 2 (67 ha), Thot Not (74.87 ha), and Vinh Thanh – phase 1 (293.7 ha).

On the afternoon of August 13, Mr. Nguyen Van Hieu, Secretary of the Can Tho Party Committee, had a working session with the leaders of Vinh Thanh district, Can Tho VSIP Joint Stock Company, and related units on the progress of the VSIP Can Tho Industrial Park project.

At the meeting, Mr. Doan Quoc Su, Chairman of the People’s Committee of Vinh Thanh district, said that there are two roads connecting to the VSIP Can Tho Industrial Park. One of the roads connecting National Highway 80 to the park is 57% complete, while the other road connecting Vam Cong Bridge to the park has only reached 6% due to land clearance issues. The local authorities are currently mobilizing the people and completing legal procedures to forcefully retrieve the land in August.

Regarding the progress of the VSIP Can Tho project, the company’s representative said that as of now, 19 enterprises from countries such as the US, Japan, South Korea, China, and Singapore have signed memorandums of investment in the park, with a total leased area of about 100 hectares and a total investment of about $200 million.

According to the plan, in the first quarter of 2025, VSIP will sign land lease contracts with customers and implement investment procedures and land handover for factory construction in the third quarter of 2025. Therefore, Can Tho VSIP Joint Stock Company would like to request the city and departments, branches, and local authorities to support and guide investors in participating in auctions for mining exploitation to reduce the pressure on filling material sources and capital, which are facing difficulties in supply and price.

After listening to the opinions, the Secretary of the City Party Committee requested that the Department of Construction and the Department of Transport send leaders and officials to coordinate with Vinh Thanh district to adjust the project and design the roads connecting the VSIP to Vam Cong Bridge. At the same time, coordinate to complete the site clearance for the connecting route in August and determine to complete the road connecting from Vam Cong Bridge to the park before the Lunar New Year in 2025.

In addition, the Secretary of the City Party Committee requested that the departments, branches, and localities ensure the progress of the resettlement areas serving the project and strive to have 300 land plots by the end of 2024 to hand over to the households that have given up their land for the approved resettlement park; absolutely not let the resettlement affect the project and the people.