The event saw the participation of Chairman of the National Assembly (NA) Tran Thanh Man, Permanent Deputy Prime Minister Nguyen Hoa Binh, NA Vice Chairmen Tran Quang Phuong and Vu Hong Thanh.

The ceremony was held during General Secretary To Lam's official visit to Singapore, serving as a vivid testament to the substantive and effective cooperation between the two nations.

The second VSIP Quang Ngai covers an area of 497.7 hectares, with a registered investment capital of about US$161 million.

The park is designed with a focus on sustainability and smart technology, aiming to foster green, modern and environmentally responsible development. When fully operational, it will provide an attractive investment location for leading international companies and corporations.

Earlier, in September 2013, under the witness of former Prime Minister Nguyen Tan Dung and his Singaporean counterpart Lee Hsien Loong, the first VSIP Quang Ngai was built. The project has marked a significant milestone in the socio-economic development of Quang Ngai province.

So far, the first VSIP Quang Ngai has attracted 44 projects with a total foreign direct investment (FDI) of approximately US$1.3 billion, creating 40,000 jobs for local workers.

Addressing the event, Deputy Prime Minister Nguyen said, the Vietnamese government has reaffirmed its commitment to maintaining a stable investment environment, accelerating administrative reforms, and improving the legal framework to create a transparent and healthy investment climate.

Viet Nam will continue to facilitate favorable conditions for foreign enterprises, in general, and Singaporean businesses in particular to invest and operate in the country, he emphasized.

Nguyen expressed his the VSIP will continue to be a symbol of strong cooperation between the two nations, and further deepen the Viet Nam-Singapore comprehensive strategic partnership./.