VSIP I Binh Duong: A Symbol of Vietnam - Singapore Cooperation and Continuous Investment Attraction
Vietnam – Singapore Industrial Park (VSIP) I Binh Duong, often referred to as VSIP I Binh Duong or Viet – Sing Industrial Park, is one of the most pioneering and successful industrial projects in Binh Duong province. Considered a modern model industrial park, VSIP I is not only the pride of Binh Duong province but also a symbol of sustainable economic cooperation between the two nations of Vietnam and Singapore. With its large scale and synchronous infrastructure, the project has created an attractive investment environment, contributing strongly to the socio-economic development of the Southern region.
VSIP I Binh Duong was developed on a planned land area of 500 hectares in Thuan An City, Binh Duong province. The project originated from the idea of high-level cooperation between the two governments, proposed by Prime Minister Vo Van Kiet to Singaporean Prime Minister Goh Chok Tong, and was officially established in 1996. Since then, VSIP I has become a bright spot in attracting Foreign Direct Investment (FDI), with an occupancy rate reaching 100% (according to search information sources), demonstrating its outstanding attraction and operational efficiency.
Overview of VSIP I Binh Duong Industrial Park
VSIP I Binh Duong is a large-scale industrial park and is rated as the largest industrial park in Binh Duong province. The developer of the project is Vietnam Singapore Industrial Park Joint Venture Co., Ltd., a reputable partner with extensive experience in industrial park development, in which Sembcorp Development (Singapore) is a leading urban development company playing an important role.
The project was planned and built synchronously according to Vietnam – Singapore standards, possessing modern and complete infrastructure. The total planned area of VSIP I is 500 hectares. Not just a simple industrial park, VSIP I has also been very successful in forming integrated Commercial – Service – Residential projects to create a complete living, playing, and working environment. A typical example is The Habitat Binh Duong luxury apartment project located within this area.
Basic project information:
- Project name: VSIP I Binh Duong (Viet – Sing Industrial Park)
- Province/City: Binh Duong
- District: Thuan An City
- Address: 8 Huu Nghi, Binh Hoa Ward, Thuan An City, Binh Duong.
- Developer: Vietnam Singapore Industrial Park Joint Venture Co., Ltd.
- Area: 500 hectares
Strategic Location and Transport Connectivity
Geographical location is one of the key factors creating superior competitive advantages for VSIP I Binh Duong. Located on the front of Huu Nghi Road, Thuan An City, Binh Duong province, the industrial park is situated at the gateway, easily connecting with the country's largest economic center, Ho Chi Minh City.
VSIP I Binh Duong has a great advantage in utilizing the complete infrastructure system and the prominent chain of utilities and services in the region. Important connection distances include:
- 900m to Aeon Mall Binh Duong
- 8.2km to Metro Binh Duong
- 10km to Binh Duong Provincial Center
- 25km to Ho Chi Minh City center (distance to Saigon Thong Nhat Station is 25km)
- 20km to Tan Son Nhat Airport
- 28km to Cat Lai Deep-water Seaport
This favorable location helps businesses at VSIP I easily transport goods, connect with domestic and international markets, optimize supply chains, and minimize logistics costs. The climate conditions in the area are also mild, with an average annual temperature of 27.3 degrees Celsius and an average humidity of 88%, which is very suitable for industrial production activities.
Modern Infrastructure and Utility Systems
To ensure production and business activities take place smoothly and effectively, VSIP I Binh Duong has invested in building a very modern and synchronous system of utilities and technical infrastructure according to the high-end standards of Vietnam and Singapore.
Internal Traffic System
The traffic system is planned with a spacious design. The main axis has a width of up to 64m, and the internal traffic system and branch roads have a width of 24m. This creates favorable conditions for the movement of heavy transport vehicles and the circulation of goods within the industrial park.
Power Supply System
The power grid is connected to the national power grid through VSIP Industrial Park's own main substation with a large capacity of up to 141 MVA. This system ensures a sufficient supply of industrial power for all factories and enterprises leasing land and workshops in the IP. Electricity is distributed through intermediate substations at voltage levels of 110KV and 220KV before reaching the step-down stations and substations of each factory.
Clean Water Supply System
VSIP I has a clean water supply system with a maximum flow rate of up to 40,000m3/day and night, ensuring sufficient water for production activities according to industrial park standards. Water quality is strictly controlled, meeting the requirements of various industrial sectors.
Wastewater Treatment System
In particular, VSIP I focuses on environmental issues with an advanced wastewater treatment system designed with a maximum treatment capacity of 30,000m3/day and night. Alongside this is a rainwater drainage system arranged separately along the roads, and a professional infrastructure management team is always ready for operation.
Communication and Firefighting
The communication and media system is equipped with fiber optics, with a maximum bandwidth of 2GB and provides over 6,000 telephone lines, ensuring seamless connectivity. The firefighting system is installed with fire hydrants along main and branch roads, along with a fire station located right within the VSIP premises, ready to respond to emergencies.
Other Support Services
In addition to technical infrastructure, the industrial park also provides other support services such as a 24/7 security system and banking services, with offices built around and right at the industrial park gate, creating the most favorable conditions for investors and workers.
Investment Attraction and Typical Enterprises
With its complete infrastructure and prime location, VSIP I Binh Duong has attracted hundreds of domestic and foreign investors, especially famous foreign investors from the US, Japan, South Korea, and China, with a total investment capital of about 3.2 billion USD to date. The occupancy rate has reached 100%, proving the resounding success of this industrial park model.
Some typical investors operating in VSIP I Industrial Park, Binh Duong province include large corporations in many fields such as electronics, mechanics, chemicals, and textiles. Prominent enterprises mentioned in the data include:
- Apparel Far Eastern Vietnam Co., Ltd.
- Shuan Hwa Industrial Vietnam Co., Ltd.
- Korea United Pharm Int'l Inc.
- GS Battery Vietnam Co., Ltd.
- Kian Joo Can (Vietnam) Co., Ltd.
- Scientex Tsukasa Vietnam Co., Ltd.
Additionally, according to search information, VSIP I is also where the factories of globally famous enterprises such as Intel, NXP Semiconductors, Panasonic, and Samsung are located, affirming its position as a leading high-tech manufacturing center and modern industrial hub in Vietnam.
Land and Factory Lease Costs at VSIP I
For investors intended to lease land or factories at VSIP I Binh Duong Industrial Park, costs are clearly announced and competitive:
Land and Factory Lease Costs
- Lease price for land with infrastructure: 85 USD/m2 (excluding VAT). The minimum lease area is 5,000 m2. Investors can sub-lease or transfer to other small-scale investors during the lease process.
- Factory lease price: from 5 - 8 USD/m2/month. The minimum lease area is 1,000m2.
Other Service and Utility Costs
In addition to land and factory lease costs, other service costs apply according to the current regulations of Binh Duong province and the Industrial Park Management Board:
- Water price: According to current regulations of the People's Committee of Binh Duong province.
- Prices for electricity, clean water, solid waste treatment fees, and wastewater: According to regulations of the Binh Duong Provincial People's Committee and the IP Management Board.
- Management fee: 0.4 USD/m2/year.
This price level is considered reasonable compared to the quality of infrastructure, services, and the strategic location that VSIP I provides. Having a stable investment environment, clear legal policies, along with an abundant labor source and reasonable labor costs in the surrounding area are factors that create firm trust for investors when deciding to choose VSIP I Binh Duong.
VSIP I Binh Duong is not just an industrial park, but a model for sustainable industrial urban development. The success of the project has affirmed its pioneering role in attracting foreign investment, developing modern industry, and enhancing the competitiveness of Vietnam's industrial sector in the international arena. Following the success of Phase I, the VSIP model has been replicated in many other provinces and cities in Vietnam, contributing positively to the overall development of the country.
In summary, VSIP I Binh Duong Industrial Park is a strategic investment choice, providing a comprehensive and efficient ecosystem for domestic and foreign enterprises wishing to expand production activities in the Vietnamese market. The project continues to hold its position as one of the leading model industrial parks in the Southern region.
Real estate prices around VSIP I Binh Duong Industrial Park fluctuate between 14.96 - 144.44 million VND/m², reflecting the heat and development potential of this key industrial area.
In particular, the presence of integrated projects like The Habitat Binh Duong shows a development orientation that does not stop at industry but also aims to build a high-quality living and working community, attracting high-quality human resources for the factories and enterprises here.
With superior advantages in location, infrastructure, and investment environment, VSIP I Binh Duong will certainly continue to be the flagship, contributing to the sustainable development of Thuan An City and Binh Duong province in the future.
