After more than nine years of development, VSIP Quang Ngai has generated a new investment wave and become an ideal new destination for investors. Following this success, VSIP Quang Ngai Co., Ltd. is carrying out investment procedures for the VSIP II Quang Ngai, hoping that it will form a "perfect duo" with VSIP Quang Ngai to become a stronger magnet to large domestic and foreign firms. The following is an interview with Mr. Tan Yit Liang, General Director of VSIP Quang Ngai Co., Ltd.
Quang Ngai Provincial People’s Committee hands over an MoU for the investment of VSIP II Quang Ngai Project at the Regional Investment Promotion Conference held by the Government in Feb 2023 in Binh Dinh province
Could you please recount the honorable record of VSIP Quang Ngai over the past decade?
Built in 2013, VSIP Quang Ngai is the fifth project of VSIP Group in Vietnam and also the first in the central region, helping complete the strategic location map of VSIP in Vietnam.
To date, VSIP Quang Ngai has provided manufacturing infrastructure for 33 customers from more than 10 countries and territories which registered to invest a total of US$1 billion and employ more than 28,000 workers. VSIP Quang Ngai has been making important contributions to the development of industries, services and urban areas, accelerating local labor restructuring from agriculture to industry, and creating employment.
Looking to the future, VSIP Quang Ngai is committed to sustainable development to reaffirm its leading position in investment attraction and infrastructure development in central Vietnam. It motivates us to continue to create and improve the conditions for the people living in our project.
Following the success of VSIP Quang Ngai, it is known that VSIP Quang Ngai Co., Ltd and Quang Ngai province's leaders also signed a Memorandum of Understanding to study and expand VSIP II Quang Ngai. Would you mind introducing more about VSIP II Quang Ngai?
To meet the growing investment needs of the business community and contribute to local socioeconomic development, VSIP Quang Ngai and Quang Ngai leaders signed a memorandum of understanding (MOU) to study and expand VSIP II Quang Ngai. The MOU handover ceremony was witnessed by Prime Minister Pham Minh Chinh and ministers on February 5, 2023.
VSIP II Quang Ngai is located in Dung Quat Economic Zone (EZ). In line with the group's vision, VSIP II Quang Ngai is planned to be a clean, green, smart and sustainable industrial park, which is really different from other ones and meets the development requirements of Quang Ngai province, as well as its future approach to investors.
Currently, the project proposal has been updated into the Master Plan for General Adjustment of Dung Quat Economic Zone Construction, Quang Ngai province to 2045, which was approved by the Prime Minister on February 28, 2023. Once approved, the Management Board of Dung Quat Economic Zone and Quang Ngai Industrial Parks will assist VSIP Quang Ngai in carrying out legal procedures to apply for an investment certificate for VSIP II Quang Ngai project.
2023 marks the 50th anniversary of Vietnam-Singapore diplomatic relations and the 10th anniversary of VSIP Quang Ngai. Therefore, VSIP Quang Ngai is looking forward to receiving the care and support from Quang Ngai province’s leaders so that VSIP II Quang Ngai can be started right in 2023 to create a meaningful milestone and contribute further to strengthening the friendly cooperative relationship between the two countries.
Locally, VSIP Quang Ngai and VSIP II Quang Ngai will be the perfect duo that creates motivation and a solid foundation to effectively unlock and promote all local potential and advantages and attract more giant domestic and foreign companies to invest in the province, thus enabling Quang Ngai province - the central key economic region to integrate deeply into the world economy.
Prime Minister Pham Minh Chinh and local authorities at a working session with VSIP Quang Ngai
What are the upcoming investment approaches of VSIP Quang Ngai?
As I mentioned above, VSIP Quang Ngai and VSIP II Quang Ngai will be developed toward a green, smart and sustainable industrial parks, placed in the context that Vietnam is embracing the Fourth Industrial Revolution and moving toward digitization and automation. VSIP Quang Ngai aims to attract manufacturing companies that bring higher surplus value such as pharmaceuticals, electronics, healthcare, F&B, and fast-moving consumer goods (FMCG).
As an experienced investor in Quang Ngai province, what message would you like to deliver to provincial leaders as well as the investor community?
Provincial leaders, the Management Board of Dung Quat Economic Zone and Quang Ngai Industrial Parks have always supported VSIP Quang Ngai since the beginning of the project's establishment as well as created all favorable policies and conditions to attract investors to come to Quang Ngai province.
VSIP is part of the ecosystem of Quang Ngai province. Our success results from very strong early support of the local community, all departments and provincial leaders. We are deeply grateful and look forward to continuing to receive stronger cooperation and support in the coming time to make Quang Ngai an attractive destination for investors.
Thank you very much!
Cong Luan (Vietnam Business Forum)
Vietnamese
October 2024
Hanoi