The licence was granted to Sembcorp Development, a wholly owned subsidiary of the Singapore based group. The project, known as Ninh Xuan 2 Industrial Park, will cover an area of approximately 490 hectares.

According to Sembcorp, the development is designed to support sustainable industrial growth in south central Vietnam, an area that is increasingly attracting manufacturing and logistics investments as transport and infrastructure networks continue to improve. Khanh Hoa province is emerging as a key destination for both domestic and foreign investors, benefiting from its strategic location and improving connectivity.

With this latest project, the VSIP network now comprises 21 industrial parks across 14 provinces in Vietnam, reinforcing its position as one of the country’s most established industrial park developers.

The Ninh Xuan 2 project will follow VSIP’s integrated township model, which combines industrial facilities with supporting urban services and infrastructure. Sembcorp Development chief executive officer Lee Ark Boon said the group plans to incorporate low carbon solutions into the park’s design, with the aim of attracting high quality investments that generate long term economic value for the region.

In a separate announcement, Sembcorp also disclosed that the completion of its planned acquisition of CleanCurrent Renewable Energy’s stake in Puente Al Sol, a renewable energy company in the Philippines, has been postponed. The transaction, valued at approximately S$105 million ($78 million), is being carried out through Sembcorp’s wholly owned unit Sembcorp Energy Philippines and was first proposed earlier this year.

Hoàng Duy