VSIP Bac Ninh: An Ideal Destination for Investors

11:26:02 AM | 4/4/2022

“Once you visit Kinh Bac
Poetic Cau River catches your soul
Quan Ho song enchants your heart
Never can you forget, be together forever”

The charming land of Bac Ninh enchants people far and wide. Known not only for its long-standing historical and cultural traditions, Bac Ninh also impresses with its spectacular resilience and its leadership in industrial development in the country. The Vietnam-Singapore Industrial Park (VSIP Bac Ninh) contributes significantly to that success. After 15 years, the project has become very attractive to investors, creating momentum for innovation, growth and socioeconomic development of the province.

Bac Ninh - Ideal place for business

Compared with other provinces, Bac Ninh has many comparative advantages in geographical location. The province lies in the key economic triangle of Hanoi - Hai Phong - Quang Ninh, works as a northeast gateway of Hanoi, and lies near major northern economic centers. The convenient traffic system, powered by Hanoi - Bac Ninh Highway together with important roads linked to northern economic, cultural and commercial centers such as National Highways 1A-1B, 18 and 38, and the trans-Vietnam Railway to China, has created good opportunities for economic exchange and merchandise distribution of the province.

Seeing these potential strengths, VSIP decided to develop VSIP Bac Ninh Industrial Park to woo investors. This is also its first industrial park in the north out of nine in total across Vietnam.
Built in 2007 at a cost of US$169 million, VSIP Bac Ninh is located on nearly 700 ha in Tu Son district, Bac Ninh province. 500 ha is for rent, prioritized for tenants with environmental standards and advanced production technology; and 200 ha is for urban development, including trade facilities, hotels, supermarkets, schools, offices, sports areas, houses and high-grade apartments. Currently, VSIP Bac Ninh has leased almost 100% of rentable industrial areas to tenants which employ thousands of workers inside and outside the province and actively help investment attraction and socioeconomic development of Bac Ninh province.

To draw more investment flows and advance its long-term investment commitment to the province, VSIP Bac Ninh II was launched in 2019, covering more than 273 ha in Tam Giang commune, Yen Phu commune, Hoa Tien commune and Cho Town, and costing nearly VND2,360 billion for investment. This is a well-located commercial and service industrial park with synchronously connected transport infrastructure linked to seaports, airports and large industrial parks in the north. VSIP Bac Ninh II is designed for clean and high-tech industries. Currently, the project has completed site clearance of 180 ha and will soon be put into operation to join Bac Ninh province on the path to be a centrally-run city in 2022.

Mr. Bui Dang Thoan, Deputy General Director of VSIP Bac Ninh Company, said that in the context of fierce competition, Bac Ninh is still a potential destination for businesses. The licensing of VSIP Bac Ninh I and VSIP Bac Ninh II by the Provincial People's Committee shows the success and effect of the projects and confirms their important position in the province. At the same time, this is also the basis for VSIP development and expansion. In the coming time, the company will continue to study the construction of VSIP Bac Ninh III and ask the Provincial People's Committee for approval. These projects will be an important focal point for businesses to find markets and invest in Vietnam in general and Bac Ninh in particular.

Golden address for investors

Since its inception, VSIP Bac Ninh has quickly attracted many international investors from Japan, South Korea, Singapore, the United States and other nations. Many tenants are big firms like Microsoft, Suntory PepsiCo, Foster, Mapletree and Nittan. This remarkable growth is supported by the development approach of VSIP Bac Ninh, which always closely follows the province's selective investment policy which facilitates, supports and prioritizes new investment projects using environmentally friendly advanced technologies.

VSIP Bac Ninh projects provide industrial infrastructure of international standards that meet all manufacturing requirements of tenants and are provided with synchronous and highly-connected infrastructure systems, including administrative quarters, factories, enterprises, green spaces and technical infrastructure (power stations, water supply stations, wastewater treatment stations, communications, internet services, land and traffic).

With the vision and core value "to be the developer of a complete, environmentally friendly urban area, always place people at the heart, anbuild the best living, learning, working and playing environment for all”, VSIP Bac Ninh promises to be an effective supporter for FDI enterprises to feel secure in their manufacturing and branding in Vietnam in particular and in global supply chains in general.

Besides, as a member of VSIP Group, VSIP Bac Ninh inherits the group's strengths in governance, including a well-functioning system and professional customer service. The company always seriously fulfills its commitments to investors and provides support and guidance for customers to carry out their legal procedures, recruit workers and introduce partners when they launch their projects.

In particular, the unique attractiveness of VSIP Bac Ninh projects lies not only in complete infrastructure and single-window services, but also rests in green vision and steadfast strategic planning for sustainable development for the whole community. VSIP Bac Ninh I and VSIP Bac Ninh II are examples of green, sustainable investment and pioneering technology application in modern, green industrial parks. These are also unique competitive advantages of VSIP Group to woo investors.

Mr. Bui Dang Thoan affirmed: “With experience and positive results in industrial park infrastructure investment and operation, VSIP Bac Ninh is always ready, with its willingness and resources, to meet the needs of investors. We will always accompany, support and be a reliable friend. We promote our position as an attractive destination; create a solid foundation for enterprises to improve business performance and achieve success.

Remarking on the investment environment in Bac Ninh, he said that VSIP Bac Ninh's success also comes from the support of local authorities at all levels. Over the years, the provincial government has supported and facilitated investors. In the coming time, VISIP Bac Ninh will continue to reform its investment promotion methods, give priority to attract production and business projects and complete the infrastructure to become a leading industrial park developer in Bac Ninh in particular and Vietnam in general.

Source: Vietnam Business Forum