The event was attended by Vietnam Prime Minister Pham Minh Chinh and Binh Duong provincial leaders, signifying the continued support of the Vietnamese government for the well-established VSIP projects as a driver of industrial development in the country.

Prime Minister Pham Minh Chinh at the ground-breaking ceremony

The 1,000-hectare VSIP III in Binh Duong marks a significant new milestone for VSIP Group as it executes a strategic transformation to more sustainable developments.

Envisioned to be the model of a smart and sustainable industrial park, VSIP III is designed to incorporate smart technology across the park’s operations, from its energy, water and waste use, to traffic and security management.

The use of real-time tracking devices to remotely monitor, analyse, and optimise performance, allows for enhanced visibility over operations, making the park more secure, reliable, and efficient for customers and workers.

The 1,000-hectare VSIP III marks a significant new milestone for VSIP Group

The project’s 100-hectare first phase is also pre-qualified to meet Singapore's BCA Green Mark certification for industrial districts, making it one of the greenest and most sustainable workplace environments in Vietnam.

Another distinguishing feature of VSIP III is its 50-hectare onsite solar farm offering grid reliability and sustainability benefits to large industrial tenants.

The park’s first customer to tap on the planned solar farm is Danish toymaker LEGO Group. At the ceremony, the government presented LEGO with the investment license for a production facility on a 44-hectare site which represents an investment of more than $1 billion. LEGO Group intends to operate its first carbon-neutral factory which will be powered by renewable energy drawn from the solar farm installed by VSIP as well as solar panels on-site.

Claiming a prime location within the bustling epicentre of Binh Duong New City, VSIP III has easy access to the My Phuoc-Tan Van expressway and to new major ports and international airports. The project also provides convenient connectivity to both Dong Nai and Ba Ria-Vung Tau.

According to VSIP, more than 30 international and domestic companies have expressed interest to locate factories and warehouses to VSIP III, equivalent to $1.8 billion of potential investment capital.

VSIP will also introduce programmes to help Binh Duong province improve labour productivity, achieve sustainable growth and socioeconomic development.

For the first programme, VSIP’s Singaporean shareholder Sembcorp will work with the Eastern International University (EIU) in Binh Duong province to set up the EIU-Sembcorp Centre for Sustainable Solutions to promote capability building amongst students and knowledge transfer to faculty in solar energy development.

The second programme aims to accelerate the adoption of industry 4.0 technology in Vietnam’s manufacturing industry.

Becamex and Sembcorp, through VSIP, intend to bring in Singapore Polytechnic International and the Singapore-based Smart i4.0 Transformation Alliance to train students at the EIU to be future-ready in the industry 4.0 sector.

VSIP will also help small- and medium-sized manufacturing enterprises to adopt relevant industry 4.0 solutions for operational efficiency. Over time, these industrial parks can be the hub for smart manufacturing.

With VSIP III, VSIP Group is now involved in the development of 11 integrated townships and industrial parks across Vietnam.

From the first VSIP in Thuan An city, the total gross land bank of VSIP Group has increased to nearly 10,000 hectares in the southern economic corridor’s Binh Duong province, the northern’s Hai Phong City, Bac Ninh and Hai Duong provinces, and the central region’s Quang Ngai, Nghe An, Binh Dinh, and Quang Tri provinces.

VSIPs host 880 customers from 30 countries and territories, with the total investment capital of $15.7 billion and 293,000 workers.