Vinashin-Shinec Industrial Park Attracts Major Firms from Finland and Sweden

The Vinashin-Shinec industrial park (SIP) was formed in September last year and run by the Vinashin Trading and Manufacturing Joint Stock Company (Shinec) which has to date attracted seven major projects, including a joint venture between Vinashin and Finland’s Mac Gregor group, a $100 million project of the Swedish company, IKEA.
The park offers many incentives, including low land rent rates for investors who sign land lease contracts before December 2007 as well as assistance for customers in workforce training and other select fields.
Under the deal signed late last week, the Bank for Investment and Development of Vietnam (BIDV) would offer banking services to the Hai Phong city-based Vinashin-Shinec IP and a VND3 trillion credit.

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