Many big corporations (Singapore) plans to inviest in Binh Dinh

Binh Dinh business mission led by Chairman Ho Quoc Dung met with Singaporea enterprises to call for investment to the province. 

The business mission to Singapore led by Chairman of Binh Dinh People’s Committee Ho Quoc Dung has connected and opened up a co-operative prospect with many economic Singaporean groups such as Outward Bound Singapore, Sembcorp, CPG Corporation, Samwoh Corporation, Gammon Capital, and KinderWorld.

Accordingly, Sembcorp Group with its major business sectors in energy, water supply, maritime transport and ports, urban and industrial infrastructure, etc. would implement an Industry – Trade -  Service - Urban Complex in Binh Dinh.

Mr. Kevin Teo, Chief Executive Officer and President of Sembcorp Group concurrently Chairman of and Viet Nam – Singapore Industrial Park (VSIP) highly appreciated Binh Dinh’s Investment Promotion Program to call for the investment of an Industry – Trade – Service – Urban Complex in Binh Dinh Province.

In 2014, Sembcorp Group had a survey in the three locations recommended by the People’s Committee of Binh Dinh Province in Canh Vinh commune (Van Canh district), Long Van – Long My Urban Area (Quy Nhon City) and an area in Phuoc Hiep commune (Tuy Phuoc district).

According to Mr. Kevin Teo, Sembcorp Group completely supported the construction of VSIP in Binh Dinh. However, the Group needed to survey carefully before investing in this project. Mr. Kevin Teo also said that VSIP had requested to send a Sembcorp delegation to pay a visit to Binh Dinh Province in order to survey the locations that the province had recommended and reported to him before his meeting with Binh Dinh leaders at the end of August, 2015.

When working with KinderWorld Education Group, invested in Outward Bound Vietnam Project in Binh Dinh, Mr. Ricky Tan, Chief Executive Officer and President of the Group, confirmed that the Group would implement Outward Bound School Project in Binh Dinh Province within 12 months after the province transfers the site project.

Up to now, the province has transferred the project site for the Group in Cat Hai commune (Phu Cat district) in Nhon Hoi Economic Zone, with an area of 59.7 hectares (41.2 hectares of the land and 18.5 hectares of the coastal line)

During the visit to Singapore, Chairman of Binh Dinh People’s Committee Ho Quoc Dung had a meeting with CPG Corporation, one of the leading infrastructure supplier as well as development construction and management in the Asia and the Pacific Ocean.

Chairman of Binh Dinh People’s Committee Ho Quoc Dung invited leaders of CPG Corporation to soon pay a working visit to Binh Dinh in order to survey, research and invest in such important areas as Ba Hoa mountain, Xuan Van mountain and the design of Phu Cat airport with international standards.

Presently, Singapore is the thirst biggest investor in Viet Nam, with a total investment capital of 22 billion USD. These enterprises such as Mapletree, Keppel Land, CapitaLand and Sembcorp had done their business in Viet Nam long time ago, creating job opportunities and assisting Viet Nam in developing the industry and the urbanization. Especially, Viet Nam – Singapore Industrial Park (VSIP) is an example for the relation between the two countries. There have been 6 VSIP projects in Viet Nam, creating jobs for more than 140 people. In Binh Dinh, Singaporean enterprises have invested in three projects with a total investment capital of 30 million USD.

At the beginning of 2015, KinderWorld Education Group (Singapore) registered to implement Outward Bound School Project and Viet Nam – Singapore International School Project (with an area of 5.5 hectares in Quy Nhon City).

In June 2015, People’s Committee of Binh Dinh Province handed the certificate of investment for Yanmar Singapore Ship Building Project, with a total investment capital of 4 million USD.

Mr. Nguyen Bay, Director of Binh Dinh Investment Promotion Center, said that the province had reviewed projects calling for investment; at the same time, took a consideration for the projects which had granted investment certificates but slowly implemented. The province also focused on the calling for Singaporean potential investors with well-known brands to invest in key projects in such fields as tourism – service, transport infrastructure, healthcare, and education. Mr. Bay also said that Binh Dinh would prepare necessary conditions in order to meet the requirements of Becamex Binh Dinh and Sembcorp Group (Singapore) to implement “Industry – Trade – Service - Urban Project” in Binh Dinh Province.