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The Singapore-based Mapletree company held a ground-breaking ceremony for a new international logistics park at Vietnam-Singapore Industrial Park (VSIP) in the northern province Bac Ninh on September 23.
Once completed, the US$140 million Mapletree-Bac Ninh logistics park will provide 310,000 sq.m for warehousing to meet the company’s demand.
At the ground-breaking ceremony, Chua Tiow Chye, Mapletree Chief Investment Officer said Vietnam is an attractive investment destination to Mapletree as it is an important market in Asia.
The Mapletree Bac Ninh project is part of the company’s strategy to expand business and investment in northern Vietnam.
Mapletree started its investment in Vietnam in 2005 with a 23,000 sq.m logistics park in VSIP I in the southern province of Binh Duong.
The company has developed two new projects in Binh Duong province – a 68 hectare logistics park in VSIP II and a 75 hectare hi-tech industrial complex area.
The operation of Mapletree Bac Ninh project will offer good service for VSIP Bac Ninh and other industrial parks in the province, creating an attractive and synchronous investment environment in the province, according to Bui Hoang Mai, Deputy Head of the Management Board of Industrial Parks in Bac Ninh. (VNA)
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