The Viet Nam-Singapore Industrial Parks (VSIP) area solid symbol of the close economic ties between the two countries. The first VSIP was established in 1996. Since then, six more VSIPs have opened up in Viet Nam, attracting more than US$10 billion in FDI and creating over 174,000 jobs.
Currently in Hai Phong, Singapore has invested in over 21 projects with total capital of roughly US$ 14 billions, ranked fifth in terms of number of projects and value among 36 foreign countries and regions investing in Hai Phong. Besides, many projects have been implemented successfully thank to the strong support of Singapore, to name a few: the founding of the Center for International Education TEG, Chevron lubricants company Viet Nam, Viet Nam Co. Agape and the others.
In addition, Singapore has assisted Hai Phong in urban planning and key architectural work, particularly Do Son District. Along with these cooperation, various friendship exchange program including cultural, arts performance, and the others were held.
By Vien Nhu