VSIP Hue Industrial Park Officially Receives Investment Approval
As part of the official visit to Singapore by General Secretary and State President To Lam, the city of Hue achieved a significant milestone when the VSIP Hue Industrial Park Project was officially granted its Investment Registration Certificate in the presence of senior leaders from Vietnam and Singapore.
With a total investment of approximately VND 3,075 billion (equivalent to US$123 million), the project marks a major step forward in economic cooperation between Hue and Singaporean partners while opening new opportunities for industrial development, logistics expansion, and foreign direct investment (FDI) attraction in Central Vietnam.
VSIP Hue: A Large-Scale Industrial Development Worth Over VND 3 Trillion
According to the investment approval issued by Hue City People’s Committee, the Vietnam-Singapore Industrial Park Joint Venture (VSIP) has been selected as the investor for the construction and operation of infrastructure for VSIP Hue Industrial Park.
The project will be developed in Hung Loc and Loc An communes, within the approved La Son Industrial Park planning area.
Key Project Information
- Total Investment Capital: Approximately VND 3,075 billion (US$123 million)
- Investor Equity Contribution: Approximately VND 462 billion
- Mobilized Capital: Approximately VND 2,613 billion
- Location: Hung Loc and Loc An Communes, Hue City
- Construction Period: Maximum of 5 years from land allocation and site handover
- Expected Groundbreaking: Q4 2026
- Expected Commercial Operation: Q2 2031
The project is expected to become one of the largest and most modern industrial parks in Central Vietnam.
Strategic Location with Excellent Connectivity
One of the project’s strongest advantages is its strategic transportation connectivity.
VSIP Hue Industrial Park enjoys direct access to:
- National Highway 1A
- La Son – Tuy Loan Expressway
- Chan May Deep-Sea Port
- Phu Bai International Airport
- Regional logistics and transportation networks
This connectivity will help businesses reduce transportation costs, improve supply chain efficiency, and strengthen participation in global manufacturing networks.
VSIP – Vietnam’s Leading Industrial Park Brand
VSIP is a flagship Vietnam-Singapore cooperation model established in 1996.
Over nearly three decades of development, VSIP has become one of Vietnam’s largest industrial park developers, operating numerous projects across the country.
VSIP industrial parks have attracted multinational corporations in sectors such as:
- Electronics Manufacturing
- High Technology
- Precision Engineering
- Logistics
- Supporting Industries
- Green Manufacturing
The arrival of VSIP in Hue is expected to elevate the city’s investment environment and industrial competitiveness to a new level.
A New Driver for FDI Attraction in Hue
At a time when provinces and cities across Vietnam are competing to attract high-quality foreign investment, the VSIP Hue project carries strategic significance.
The industrial park is expected to attract international investors in key sectors including:
- High Technology
- Electronics and Semiconductors
- Smart Manufacturing
- Green Industry
- Supporting Industries
- Logistics and Supply Chain Services
This will help diversify Hue’s economic structure, reduce dependence on traditional sectors, and support sustainable economic growth.
Developing a Green and Smart Industrial Park
Modern industrial park development is increasingly focused on sustainability rather than simply providing industrial land.
According to VSIP’s development strategy, VSIP Hue will be built as:
- A Green Industrial Park
- A Smart Industrial Park
- A Digitally Integrated Industrial Zone
- An Energy-Efficient Development
- An Environmentally Friendly Manufacturing Hub
- An ESG-Compliant Industrial Ecosystem
These characteristics will significantly enhance Hue’s competitiveness in attracting global investors who prioritize sustainable development standards.
Creating Jobs and Boosting Local Economic Growth
Once operational, VSIP Hue Industrial Park is expected to create tens of thousands of direct and indirect jobs for local workers.
The project will also contribute to:
- Increasing local budget revenues
- Expanding logistics and support services
- Encouraging urban and commercial development
- Improving workforce quality
- Accelerating industrialization and economic transformation
The industrial park is expected to become one of Hue’s key economic growth engines between 2026 and 2035.
Hue Moves Toward Becoming a New Industrial Hub in Central Vietnam
The approval of the US$123 million VSIP Hue project demonstrates the growing attractiveness of Hue’s investment environment.
Combined with ongoing transportation infrastructure upgrades, high-tech industrial development strategies, and international investment promotion efforts, Hue is gradually establishing itself as a new growth center in Central Vietnam.
The presence of VSIP will not only expand industrial development space but also position Hue more deeply within regional and global supply chains.
Conclusion
The VSIP Hue Industrial Park project, with a total investment exceeding VND 3 trillion, represents a significant milestone in Hue’s industrial development journey. With its strategic location, strong VSIP brand reputation, and commitment to green and smart industrial development, the project is expected to become a powerful catalyst for FDI attraction, economic growth, and enhanced competitiveness for Hue in the years ahead.
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