Singaporean Firm to Build US$115-Mln Logistics Park in Northern Vietnam
Singapore’s Mapletree Investments Pte. Ltd February 19 got a license to build a US$115-million logistics park in northern Bac Ninh province, Vietnam News Agency quoted a company official as saying.
Chua Tiow Chye, General Investment Director of Mapletree Investments Pte. Ltd, said that the project is part Mapletree’s expansion and development strategy in the Southeast Asian market.
The park, which is located on a 55-hectare site in the VSIP Bac Ninh industrial, urban and service park, will include built-to-suit and multi-tenanted warehouse facilities, as well as an inland container depot.
This is the group’s third warehouse in Vietnam and its first in the northern region following two in southern Binh Duong province.
“Amid the global economic crisis, we remain confident in Vietnam’s development potentials in the long run. We are looking for new opportunities in this promising destination”, Chua Tiow Chye added.
The 700-hectare VSIP Bac Ninh has to date attracted total investment of more than US$300 million from 18 local and foreign investors. (VNA, Vietnam Economic Times)
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