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30 mln USD deal signed for VSIP complex
Standard Chartered Bank will provide 30 million USD in loans for the Vietnam-Singapore Urban-Industrial-Service Project (VSIP) in the southern province of Binh Duong.
To this effect, an agreement was signed by representatives of the VSIP Joint Venture and Standard Chartered in the province on March 30.
Under the deal, Standard Chartered will provide 20 million USD for a five-year term and 10 million USD for a one-year term for the project.
Established in Thuan An district in 1996, the VSIP Binh Duong is the first among cooperative works between the governments of Vietnam and Singapore. The second project, VSIP 2-VSIP Binh Duong, was set up in Ben Cat District in 2006.
With a total area of over 2,000 ha, the VSIP Binh Duong is the largest among VSIP projects compared to those in Ben Cat district of Binh Duong province, in Bac Ninh Province and Hai Phong City. It has so far attracted more than 140 investors.
According to Nguyen Phu Thinh, General Director of the VSIP Joint Venture, the signing of the deal shows Standard Chartered Bank’s confidence in the strategic development of VSIP in its Binh Duong project.
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