A corner of the VSIP Nghe An 1 Industrial Park
On March 13, Nguyen Duc Trung, Secretary of the Nghe An Provincial Party Committee, handed over the investment approval decision for the VSIP Nghe An 3 project to leaders of Singapore's Sembcorp Group.
Spanning over 181 hectares, the project will be developed in Hung Nguyen District and will operate for 50 years from the approval date. Construction is set to commence in the fourth quarter of this year. This marks the third VSIP industrial, urban, and service complex in Nghe An, following VSIP Nghe An 1 and VSIP Nghe An 2.
The first VSIP Nghe An project was launched in Hung Nguyen District in 2015, covering over 750 hectares with an investment of USD359 million. The second project, VSIP Nghe An 2, was initiated in early 2023 in Dien Chau District, spanning 500 hectares with an investment of over USD164 million.
To date, VSIP Nghe An has attracted 54 secondary projects, with a total registered investment of nearly VND65 trillion (USD2.60 billion), including 34 FDI projects amounting to USD2.59 billion, accounting for 53.1 percent of the province's total FDI.
In 2024 alone, Nghe An secured nearly USD1.75 billion in FDI, ranking eighth among Vietnam's 63 provinces and cities. VSIP Nghe An contributed significantly to this with eight FDI projects worth nearly USD1.4 billion.
VSIP has emerged as one of Nghe An’s most successful FDI projects and a key driver of industrial growth, expected to generate tens of thousands of jobs in the coming years.
