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VIETNAM SINGAPORE INDUSTRIAL PARK (VSIP) 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 a Singapore consortium led by Sembcorp Development, a wholly owned subsidiary of Sembcorp Industries. VSIP Group is now involved in the developments of 20 integrated townships and industrial parks across Vietnam, including industrial land, township and services. VSIPs host 960 customers from 30 countries and territories, with total investment capital of USD 23.4 billion and over 320,000 workers.