In a board resolution, Becamex Group said VSIP JV, Vietnam’s largest IP developer, is expected to raise its charter capital by VND1.5 trillion ($56.93 million) to VND4.18 trillion ($158.58 million).

Taken together, Becamex will contribute VND735 billion ($27.9 million) in line with its 49% ownership stake, with the capital injection scheduled for the fourth quarter of 2025.

VSIP JV, established in 2008 through a joint venture between Becamex and Singapore’s Sembcorp, operates a network of Vietnam-Singapore industrial parks that have attracted billions of dollars in foreign investment over the past two decades.

VSIP developed its first industrial park in the southern province of Binh Duong in 1996. Its portfolio now comprises 20 IPs covering a combined 12,000 hectares across Vietnam.

VSIP posted nearly VND1.13 trillion ($42.7 million) in net profit in the first half of 2025, up nearly 3.4% year-on-year.

The company recorded net profits of VND2.26 trillion ($85.71 million) in 2022, VND1.7 trillion ($64.6 million) in 2023, and a record VND3.28 trillion ($124.6 million) in 2024.