Ascendas Strongly Confident in Long-run Investment Climate

“Ascendas sees Vietnam as a country with strong growth potential. While the market is encountering some challenges in the short term, we believe that Vietnam will offer good opportunities in the long run,” said Mr Han Ann Foong, Country Head, Ascendas Vietnam.

The country is rich in natural resources and agriculture, and has a strengthening domestic economy. It has the ideal infrastructure to support manufacturing and labour-intensive industries, and holds much potential in attracting foreign manufacturing companies. 

 

Ascendas first entered the Vietnam market in the 1990s as a minority shareholder of the Vietnam Singapore Industrial Park. Since then, Ascendas has deepened its commitment in Vietnam with the development of the 500-hectare Ascendas-Protrade Singapore Tech Park (APSTP) in Binh Duong, a joint venture between Ascendas and Protrade Corporation, a state-owned company in Binh Duong. Infrastructure works for the first 2 phases of the park, comprising 150ha, will be completed in the first quarter of 2012.

 

With its strong track record in the region and drawing on the experience of our successful flagships such as Ascendas-Xinsu in Suzhou Industrial Park, Ascendas believes that the clustering of companies in similar or related industries in a central hub provide unmatched advantages that are key to the development of businesses and industry growth. Through regular interaction and networking, businesses in Ascendas parks develop a symbiotic relationship that enables them to grow together in a conducive system. Tenant companies are therefore assured of supportive and hassle-free infrastructure for their own operations.

 

“With this industry cluster concept in mind, APSTP will provide the quality infrastructure and facilities for the growth and ongoing development of Vietnam’s electronics, pharmaceutical, and food and beverage industries,” remarked Mr Han Ann Foong. APSTP will set the benchmark for a new generation of industrial park in Vietnam, a place to work, live, play and learn.