After two VSIP industrial parks totaling more than 900ha, Singapore seeks to invest in VSIP III in Bac Ninh this year

There are currently about 236 active Singapore-invested projects in Bac Ninh Province, with total registered capital of nearly 18 billion USD. In 2026, Singapore is studying the implementation of the VSIP III industrial park in Bac Ninh, with the aim of expanding the system to around 30 projects in Vietnam.

On 13 April 2026, Pham Hoang Son, Chairman of the Bac Ninh Provincial People’s Committee, hosted a courtesy visit by a Singapore Embassy delegation led by Ambassador Rajpal Singh. Ambassador Singh said Bac Ninh is an attractive destination for foreign investors, including Singaporean firms, due to its favorable investment environment, advantageous location, and a high-quality workforce. He noted that many large Singaporean companies are operating effectively in the province and that Singapore attaches great importance to deepening cooperation.

VSIP III proposal and cooperation

Ambassador Singh referenced Singapore’s implementation of large-scale infrastructure projects in Vietnam, including VSIP industrial parks in Ho Chi Minh City, Bac Ninh, and Hai Phong. Regarding the proposal to establish VSIP III in Bac Ninh, he urged local leadership to facilitate the project’s implementation in 2026.

Chairman Son said Bac Ninh is a major economic hub with a young, highly skilled workforce. He added that in recent years the province has maintained stable growth as its economy shifts toward industrialization and modernization, and it leads in attracting foreign direct investment, particularly in processing and manufacturing.

Son also highlighted that Bac Ninh is prioritizing key infrastructure projects such as Gia Binh International Airport and the Hanoi–Quang Ninh high-speed railway, which he said will provide additional economic and social momentum and help attract investment. For the VSIP III proposal, he stated that the province will update its planning this year and coordinate with Singaporean enterprises to implement the partner’s proposals.

Existing VSIP footprint in Bac Ninh

Singapore has already invested in two VSIP industrial parks in Bac Ninh, totaling more than 900 hectares: VSIP Bac Ninh I (in Tu Son ward and Dai Dong commune) and VSIP Bac Ninh II (in Yen Phong, Tam Giang, and Van Mon communes).

FDI and industrial park developments in early 2026

In the first three months of 2026, Bac Ninh issued 120 fresh projects and adjusted capital for 82 projects, with total registered capital exceeding 4.7 billion USD. The province ranks among the top three localities nationwide in attracting FDI.

From the start of the year to the end of Q1, Bac Ninh added four new industrial parks with registered capital totaling nearly 6,440 billion VND. This brought the total number of industrial parks to 39, with an area of about 11,317 hectares. The land area leased for industrial and administrative-service purposes stood at over 4,316 hectares, with an occupancy rate of 53.9%.