Sembcorp Development Secures Investment Licence for Vietnam Singapore Industrial Park in Khanh Hoa Province, Vietnam
December 31, 2025
- New 490-hectare Ninh Xuan 2 Industrial Park (VSIP Ninh Xuan) to boost sustainable industrial growth in south-central Vietnam
Vietnam, December 31, 2025 – Sembcorp Development (a wholly-owned subsidiary of Sembcorp Industries), in partnership with Becamex IDC Corporation, has received an investment licence to develop a new Vietnam Singapore Industrial Park (VSIP) in Khanh Hoa Province in south-central Vietnam. This marks the latest addition to the VSIP portfolio, bringing the total to 21 industrial parks across 14 provinces in Vietnam.
Khanh Hoa province is emerging as an industrial and logistics hub, attracting increasing interest from local and international manufacturers as infrastructure advances. Spanning 490 hectares, VSIP Ninh Xuan is strategically positioned with seamless access to deep-sea ports, major expressways, and modernised airports. This connectivity empowers global supply chains and drives growth for export-focused and clean-tech industries.
The park will adopt VSIP’s integrated township model, combining modern industrial infrastructure with urban support services to create a smart, green, and future-ready development.
Mr Lee Ark Boon, CEO of Sembcorp Development, said: “The latest VSIP in Khanh Hoa province represents our commitment to advancing sustainable industrial development in Vietnam. We aim to integrate urban solutions to realise our vision of a low-carbon industrial park, while attracting investments that create long-term economic value for the region.”
Separately, VSIP has been named the Best Industrial and Business Park Developer in Vietnam (2025) by Euromoney (UK) magazine. This is the tenth time that VSIP has won this accolade.