Established in 1996, VSIP was based on the friendship and economic cooperation between Vietnam and Singapore. The project was carried out by a joint venture set up by Becamex IDC Corporation from Vietnam and the companies led by Sembcorp Development from Singapore. With rapid development, up to now, VSIP has developed 17 projects nationwide with a total land area of over 11,000 hectares, including industrial land, township, and service.

VSIP has transformed into the leading integrated township and industrial park in Vietnam, offering new urban solutions such as developing international master plans, sustainable architecture, to attract foreign investors to produce higher added value. The infrastructure of VSIP is now chosen by 880 tenant companies from 30 countries and territories with a total investment of 18.7 billion USD, creating jobs to more than 300,000 domestic and foreign workers.