Da Nang to Host VSIP Industrial Park Worth Over VND 3.7 Trillion

The People's Committee of Da Nang City has approved the investment policy for the VSIP Da Nang Industrial Park in Dien Ban Bac Ward. The project will utilize nearly 250 hectares of land with a total investment capital exceeding VND 3.7 trillion (approximately USD 146 million). The operational period of the industrial park will be 50 years from the date of land lease decision. The project implementation progress is planned over five years. Investment preparation procedures are scheduled from the third quarter of 2026 to the third quarter of 2027. Compensation and site clearance will be carried out from the fourth quarter of 2026 to the second quarter of 2028. Investment attraction is expected to commence from the third quarter of 2028, with the completion and operation of the industrial park targeted for the fourth quarter of 2031. The approved investor is the Vietnam-Singapore Industrial Park Joint Venture Company Limited (VSIP). This is a joint venture between Becamex IDC (BCM) and Sembcorp Development Ltd of Singapore, with the Singaporean enterprise holding a 51% stake. With over three decades of operation in Vietnam, VSIP has developed 26 industrial parks, attracting hundreds of thousands of laborers and numerous domestic and foreign manufacturing and technology enterprises. By the end of May, VSIP was granted licenses for five new industrial parks in Hai Phong, Nghe An, Hue, Ha Nam, and Ho Chi Minh City. From July 1, 2025, Da Nang City and Quang Nam Province will merge to form a new Da Nang City. The newly formed city is expected to possess significant advantages in attracting investment in industry, services, seaports, urban development, and resort tourism. In the first six months of this year, Da Nang attracted nearly USD 358 million in FDI, a substantial increase compared to the same period last year, with investments primarily focused on processing and manufacturing, information technology, trade, and services.