Company, the first foreign investor to officially sign with a total capital of up to 200 million USD. The remaining three investors are in the process of completing legal proceedings, with a total capital of about $100 million. Currently, the project is being accelerated for infrastructure construction, investment promotion, with the expectation of creating a spillover effect and strongly attracting FDI capital flows.
Representative of Sembcorp Group – Singapore spoke at the meeting.
At the meeting, Mr. Lawrence Chan, Senior Representative of Sembcorp Group, in charge of VSIP Group system in Vietnam, raised some notable recommendations on legal and infrastructure support. Specifically, it is proposed to switch to the form of annual paid land lease in order to shorten the time for granting Land Use Rights Certificates, thereby creating favorable conditions for investors to soon deploy factories; Proposing the People's Committee of Can Tho city to direct the acceleration of land procedures, especially for the plan to start the Bestway project on August 1st, 2025 - this will be the first FDI project in the city in 2025. The successful implementation of the Bestway project is not only an important first step but also contributes to shaping the image of Can Tho’s dynamic and effective investment environment in the eyes of international investors.
Speaking at the meeting, Chairman of the City People’s Committee Truong Canh Tuyen affirmed: “The coordination between the government and businesses is currently progressing positively. We are committed to accompanying VSIP in every step of its implementation, not only in the present but also in the future direction - expanding the industrial park to the west and east of the city.”
The Chairman of Can Tho City also acknowledged and appreciated the recommendations of Sembcorp Group, and said that the city has directed relevant departments and agencies to quickly implement land valuation, issue land use right certificates to VSIP, creating conditions for businesses to complete necessary procedures soon. This is the mature stage of the project and is determined to be a key task in the FDI attraction strategy.
Permanent Vice Chairman of the City People’s Committee Duong Tan Hien also shared the challenges in the project implementation process, especially the shortage of construction sand due to competition for materials with large infrastructure projects such as the expressway being implemented. However, Mr. Hien said that the merger of Can Tho with Soc Trang and Hau Giang in the coming time will bring great advantages in material resources, of which Soc Trang has abundant sea sand reserves. The government is aiming to use sea sand, applying pumping technology to level the ground for VSIP. Regarding infrastructure, the city has basically completed the detailed planning of subdivisions, implemented route No.2 connecting to the industrial park, and assigned Vinh Thanh district to urgently implement 2 resettlement areas to serve the project.
VSIP Can Tho project was approved by the Prime Minister for investment policy under Decision No. 1255/QD-TTg dated October 17th, 2022. The project has a total investment capital of more than 3,717 billion VND (equivalent to nearly 160 million USD), an area of nearly 294 hectares, invested by VSIP Can Tho Joint Stock Company. The project is not only of strategic significance to the city but also plays a role in driving economic development for the whole Mekong Delta region.
Anh Nguyen - Translated by Hong Nhien
