Vietnam and Singapore Launch 5 New Industrial Parks

Vietnam and Singapore are doubling down on one of Asia's most successful economic partnerships, adding five cutting-edge industrial parks that will bring advanced manufacturing and green technology to cities across Vietnam.

Party General Secretary and President To Lam and Singapore Prime Minister Lawrence Wong signed investment certificates for the new Vietnam-Singapore Industrial Parks during a state visit in May 2026. The parks will open in Hue city, Nghe An province, Ninh Binh province, Hai Phong city, and Ho Chi Minh City.

The expansion builds on three decades of cooperation that started with a single industrial park in 1996. Today, around 20 VSIP projects span 12,000 hectares across Vietnam, hosting more than 1,000 companies from 30 countries with $23.4 billion in total investment.

What makes this round different is the focus on tomorrow's industries. The new parks will prioritize clean energy, digital transformation, and technology transfer rather than traditional manufacturing alone.

Singapore brings proven expertise in capital management, logistics, and international connectivity. Vietnam offers a skilled workforce, a growing consumer market, and an increasingly vital position in regional supply chains.

The two countries also signed agreements on supply chain resilience, agricultural trade, and the creation of an advanced manufacturing research center. Singapore's A*STAR research agency will partner with Vietnamese company Becamex to drive innovation.

Trade between the nations reached nearly $12 billion in 2025. Singapore ranks as Vietnam's second-largest foreign investor with nearly $100 billion in cumulative registered investment.

The Ripple Effect

The new industrial parks will create thousands of jobs in regions across Vietnam while advancing both countries' green economy goals. Local communities will benefit from improved infrastructure including upgraded ports, aviation links, and clean energy systems.

The partnership also strengthens regional supply chains at a time when economic security has become a priority for Southeast Asian nations. By combining Singapore's technological prowess with Vietnam's manufacturing capacity, both countries position themselves as reliable partners in an era of supply chain restructuring.

Educational cooperation with Nanyang Technological University will help train the next generation of Vietnamese workers in advanced manufacturing and digital skills. This knowledge transfer ensures the benefits extend far beyond the factory floors.

Leaders from both nations agreed to accelerate implementation of their new agreements, directing government agencies to turn commitments into concrete action that elevates their Comprehensive Strategic Partnership to new heights.