Vietnam-Singapore (VSIP):- VSIP is a 1996 USD$134 million 51/49 Joint Venture involving a consortium of Singaporean partners including SembCorp Parks Holdings, Ascendas Investments, Seletar Investments, MC Development Asia, KMP Vietnam Investments, UOL Overseas Investments and LKN Constructions.

The park is 17km from HCM City on National Highway 13 and home to over 160 foreign and local projects with a total capital of about USD$1 billion, with over 110 projects in operation employing over 33,000 workers.

In 2004 the park attracted over 33 new FDI enterprises worth USD$111 million and 30 existing foreign investors increased their investment capital by USD$64 million. The combined about USD$180 million in FDI represented fully 44% of the provincial total in 2004.

The 100 hectare 1st Phase now has over 77% occupancy so work has started on the 200 hectares 2nd Phase, which the developer believes will be nearly full by the end of 2005.

The 3rd phase of 200 hectares is being adjusted to meet the local authorities desire for sustainable growth, on the basis of constructing an industrial town, designed to accommodate not only factories but green spaces for nature. To date VSIP has invested nearly USD$100 million in infrastructure development on the 300 hectare 1st & 2nd phases and plans to spend over USD$40 million on the 3rd phase. Priority will be given to projects applying high-tech in manufacturing and those with good pollution treatment facilities to make VSIP a green park.

VSIP received ISO 9001:2000 Quality Management System accreditation in 2002. The main business fields of VSIP tenants are electronics, pharmaceuticals, food processing, consumer goods, precision mechanics and construction materials.

Tenants include Fujikura, Kurable Industrial, Sunlight Electrical, Schneider Electrical, Rohto Metholatum, Korea United Pharma, ICA Pharmaceutical, Diethelm, Roche, Ranbaxy, F&N, Liwayway, Kimberly Clark, Konica, Nitto Denko and Sime Darb.