PM Nguyen Tan Dung and his Singaporean counterpart Lee Hsien Loong on Wednesday attended the ground-breaking ceremony of the Vietnam - Singapore Industrial Park (VSIP) Hai Phong in Thuy Nguyen District, the northern port city of Hai Phong. Mr. Lee is now on his four-day visit, beginning yesterday to Vietnam at the invitation of PM Dung.
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PM Nguyen Tan Dung (3rd from right)
and his Singaporean counterpart Lee Hsien Loong (4th
from right) at the
ground-breaking ceremony of the Vietnam-Singapore Industrial Park (VSIP) Hai Phong, Hai Phong City, January 13, 2009
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The project covers an area of 1,600 hectares, including 500 hectares for industrial development and the rest for urban development.
VSIPs are among the most successful joint ventures in terms of industrial infrastructure development in Vietnam. Their two main shareholders are Singapore-based SembCorp and Vietnam-based Becamex.
Four VSIPs have been established here with the total area of over 4,850 hectares, including one in the northern province of Bac Ninh, and VSIP 1 and VSIP 2 in the southern province of Binh Duong.
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At the ground-breaking ceremony of the Vietnam-Singapore Industrial Park (VSIP) Hai Phong PM Nguyen Tan Dung believes that the project would create an impetus to socio-economic development of Hai Phong City and the Red River Region as a whole, Hai Phong City, January 13, 2009
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Symbol of the Vietnam–Singapore cooperation
For four years of realizing the Framework Agreement on Vietnam-Singapore Connection, the bilateral linkages have been flourishing in all fields, particularly trade, investment, transport, education and telecommunication.
Singapore is among Vietnam’s top investment and trade partners. By November 2009, it had around 760 projects with the total registered of nearly US $17 billion, boasting itself as the fifth biggest investor in Vietnam.
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Singaporean PM Lee Hsien Loong states that the VSIPs in the provinces of Binh Duong, Bac Ninh and Hai Phong are the firm symbol of successful cooperation between Vietnam and Singapore, Hai Phong City, January 13, 2009
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At the ground-breaking ceremony, the two PMs hoped that the VSIP Hai Phong project would continue successful stories of its siblings in Bac Ninh and Binh Duong.
PM Nguyen Tan Dung took this occasion to praise for Singaporean investors’ valuable contributions and pledged to continue creating favorable conditions for foreign investors.
He believed that the project would produce various job opportunities for local residents and an impetus to the socio-economic development of Hai Phong and the Red River Region.
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PM Nguyen Tan Dung and PM Lee Hsien Loong (2nd and 3rd from left, 1srow)
listen to the investors to introduce the master planning scheme of the VISP Hai Phong, January 13, 2009
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PM Lee Hsien Loong highly spoke of Vietnam’s high GDP growth rate recorded during the past consecutive years and an abundant diligent young labor force - a motive for Vietnam’s development and regional economic integration.
He was convinced that the 4th VSIP will be a great success which prove the fruitful cooperation between Singapore and Vietnam./.