On the afternoon of March 11, in Singapore, Mr. Bui Thanh An - Member of the Provincial Party Standing Committee, Vice Chairman of Nghe An Provincial People's Committee (PPC) had a meeting with leaders of Sembcorp Group.

During the meeting with the delegation, the Sembcorp Group was represented by: Lee Ark Boon - Chief Executive Officer of Sembcorp Development and Co-Chairman of VSIP Group; Emily Pham Hong Ngoc - Chief Financial Officer of Sembcorp Development; Teng Wei Hong - General Director of VSIP Nghe An Co., Ltd

Mr. Bui Thanh An - Vice Chairman of the Nghe An PPC, along with leaders from various departments and sectors, engaged in discussions with the leadership of Sembcorp Group.

At the meeting, Vice Chairman of the PPC Bui Thanh An expressed his joy and sincerely thanked Mr. Lee Ark Boon - CEO of Sembcorp Development, and Chairman of the Board of VSIP Group for taking the time to meet with the delegation; he also wished Mr. Lee good health and hoped that Sembcorp Group and VSIP Group would continue to develop effectively.

The Vice Chairman of the PPC stated that among the FDI projects in the province, there are currently 13 projects from investors from Singapore, with a total investment of nearly 1.152 billion USD. 

Among these, VSIP is one of the successful FDI projects in Nghe An province and is becoming a key project with the expectation of creating a significant breakthrough for the industrial development of the province.

To date, VSIP has invested in three projects in Nghe An: one project focused on the development and business of infrastructure for industrial parks, urban areas, and services, and two projects dedicated to the development and business of infrastructure for industrial parks.

Vice Chairman of the PPC Bui Thanh An emphasized: VSIP is one of the successful FDI projects of Nghe An Province and is becoming a key project with the expectation of creating a significant breakthrough for the province's industrial development.

The project of the VSIP Nghe An Industrial – Urban and Service Park (VSIP Nghe An 1) has attracted 53 secondary projects, with a total registered investment capital of 49,985.1 billion VND, including 33 FDI projects with a total investment of 2 billion USD. The occupancy rate of the industrial park is approximately 95%.

VSIP Nghe An 1 has attracted major investors including Luxshare ICT, Luxcase, Luxvision, Merry & Luxshare, Innovation Precision, Radiant, Everwin Precision, Matsuoka, Jtec, and others. The procedures for the urban area and services have been completed, and approximately 45% of the land leveling has been achieved.

Tho Loc Industrial Park Project - Phase 1 (VSIP Nghe An 2) has basically completed the site clearance. Recently, Nghe An province also approved the investment policy for the VSIP Nghe An 3 industrial park project.

“This demonstrates Viet Nam's efforts in institutional reform, the efforts of VSIP in implementing work on the ground, as well as the support of the local government of Nghe An province. Nghe An province is very pleased that the development process of VSIP is becoming increasingly smooth and faster”, Vice Chairman of the Provincial People's Committee Bui Thanh An emphasized.

Regarding the outstanding results of the province, Vice Chairman of Nghe An PPC, Bui Thanh An, stated that in recent years, Nghe An has seen positive development. The province ranks 10th in the country in terms of economic scale; its growth rate for 2024 ranks 13^th, and the Central Government has assigned a growth rate of 10.5% for 2025.

The General Director of Sembcorp Development and Chairman of the Board of VSIP Group, Lee Ark Boon, sincerely thanked the leaders of Nghe An province and various departments, sectors, and localities for their attention, support, and active assistance to VSIP in recent times.

Notably, in the three years (2022-2024), Nghe An Province's results in attracting foreign direct investment (FDI) have consistently ranked in the top 10 nationwide. Specifically, in 2024, Nghe An attracted nearly 1.75 billion USD, placing it eighth in the country, with significant contributions from VSIP.

The Vice Chairman of Nghe An PPC affirmed that Singapore is a key partner of Viet Nam in general and Nghe An Province in particular. For Nghe An, VSIP is one of the most important industrial park infrastructure investors. Therefore, Nghe An Province hopes to continue receiving the support of the Sembcorp Group and VSIP Group for the development of the province.

In the coming time, Sembcorp Group and VSIP Group, along with the province, will continue to study the planning and invest in the construction of new industrial zones linked with urban and service areas. In the strategy to attract secondary investors, a balance between technology and labor utilization will be ensured, addressing labor issues while aiming for greener, higher-quality industrial zones.

Deputy Chairman of the Nghe An PPC Bui Thanh An affirmed that in the coming time, Nghe An Province will continue to accompany Sembcorp Group and VSIP Group to share difficulties together and build an effective partnership that harmonizes mutual benefits.

During the meeting, Mr. Lee Ark Boon - CEO of Sembcorp Development and Chairman of the Board of VSIP Group expressed his sincere gratitude for the attention, companionship, and active support of the leadership of Nghe An province and various departments, industries, and localities that have enabled VSIP to achieve such positive development results today.

In the coming time, Sembcorp and VSIP commit to continue to coordinate closely with the Nghe An provincial government better and faster to handle related issues, closely linking interests with the government and people of Nghe An province, this is the motto and development principle of VSIP in Nghe An.

Source: Nghe An Newspaper (March 11, 2025)