Việt Nam scraps plan for new Singapore industrial park in tourism-haven island

Vietnamese officials have changed their mind and canceled the plan to build a Singapore-style industrial park in the resort town of Phú Quốc in southern Việt Nam.

Deputy Prime Minister Hoàng Trung Hải last week ordered the Ministry of Planning and Investment to inform Singapore of the new decision, but did not specify why, Thời báo Kinh tế Sài Gòn (Saigon Times) reported.

phu_quocPhú Quốc, the largest island in Việt Nam, has the total area of 593 km2

Early last year, Kiên Giang Province’s government tasked Becamex IDC – an investment and development enterprise which models on Singapore’s Temasek Holdings – with conducting a feasibility study for the Việt Nam-Singapore Industrial Park (VSIP) in Phú Quốc.

The VSIP, which will focus on hi-tech and environment-friendly industries, is expected to cover around 3,000 hectares (7,414 acres).

The planned project received mostly negative reviews.

Experts said Phú Quốc is only suitable for tourism and services development, and that it is hard to find the human resources for hi-tech industries there.

Phú Quốc, the largest island in Việt Nam, has the total area of 593 square kilometers.

Under a master project for economic and social development of Kiên Giang, Phú Quốc will be built into a special economic and administrative zone by 2020.

Other Việt Nam-Singapore Industrial Parks are currently operating in the northern province of Bắc Ninh, the northern port city of Hảii Phòng, the central province of Quảng Ngãi and Bình Dương Province, which neighbors Hồ Chí Minh City.

Source: Thanh Niên News

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