Nam Dinh approves $88 mln industrial park project

The People's Committee of northern Nam Dinh province on March 6 approved the investment policy for the Hai Long Industrial Park (VSIP Nam Dinh), phase 1, on March 6.

Under the Commitee's decision, the Vietnam Singapore Industrial Park J.V., Co., LTD (VSIP) will be the main investor. 

The project aims to construct and operate infrastructure of the industrial park on an area of approximately 180 ha, located in Giao Long and Giao Chau communes, Giao Thuy district.

The total investment capital for the project is nearly VND2.25 trillion ($88.2 million), with the investor's contributed capital accounting for VND337.4 billion (over $13.2 million).

The project is expected to commence in the third or early fourth quarter of 2025 and complete all infrastructure by the fourth quarter of 2027. The project's operating term is 50 years, starting from the date the investor is granted lease land by the State.

According to the planning of Nam Dinh province for the period 2021 - 2030, with a vision to 2050, in addition to the Ninh Co economic zone, six industrial parks (Hoa Xa, My Trung, Bao Minh, Bao Minh expansion, Rang Dong Textile and Garment, My Thuan) and many industrial clusters are currently in operation.

The locality expects to develop 10 additional industrial parks and many new industrial clusters.