The signing ceremony of the credit contract to finance the Vietnam-Singapore Industrial Park III in Binh Duong. (Photo: VNA)

The Bank for Investment and Development of Vietnam (BIDV) and the Vietnam-Singapore Industrial Parks Joint Venture Company Limited (VSIP) on Monday signed a 200 million USD credit contract to invest in the project.

The new park with a total funding of 570 million USD on 1,000 hectares of land will be built with strict standards on environment, safety, facilities and utilities. When completed, it will be a smart, green, environmentally friendly and modern industrial park.

VSIP III is the third VSIP in Binh Duong and the 11th in the country. There have been outstanding projects registered to invest in VSIP III such as a 1 billion USD project of Denmark’s LEGO Group.