Singapore’s Sembcorp Eyes Investment in Innovation Park in HCM City

Tuan Minh

07:54 30/05/2016

BizLIVE - Sembrcorp Development Co. has expressed interest in building an innovation park in HCM City as it seeks to expand its foothold in Vietnam.

Singapore’s Sembcorp Eyes Investment in Innovation Park in HCM City

A view of an VSIP park developed by VSIP Company. (Photo:

Sembcorp Development Ltd, a subsidiary of Singapore-based Sembcorp Industries Ltd, has plans to construct an innovation park in Ho Chi Minh City, the engine of Vietnam’s economy, local media reported.
During a working session with HCM City’s mayor Nguyen Thanh Phong, the firm’s Chief Executive Officer Kelvin Teo said such an innovation park would attract scientists, interdisciplinary experts, technology developers and investors from all over the world to develop value-added products.
The park, which is to cover an area of between 50 and 100 hectares, will include a commercial center, research facilities and residential quarters to offer good-quality accommodation for scientists and exports.
Nguyen Thanh Phong suggested the Singaporean industrial developer consider the Saigon Hi-tech Park (SHTP) in District 9, which meets the firm’s requirements and stays near Metro No. 1 Ben Thanh-Suoi Tien route.
Mr. Phong also invited the firm to invest in the development of renewable, wind and solar energies in HCM City.
Vietnam Singapore Industrial Park Company (VSIP), a joint venture between Vietnam’s Becamex IDC Corp and Sembcorp-led Singaporean investors, has developed seven industrial parks worth $8.5 billion in Binh Duong, Nghe An, Bac Ninh, Hai Phong, Quang Ngai and Hai Duong provinces so far.