SINGAPORE - State-owned infrastructure consultancy Surbana Jurong has a plan to become the world's top urban development company. Basically, it aims to build a bunch of "mini-Singapores" in emerging countries.
Jointly-owned by city-state's sovereign wealth fund Temasek Holdings and government agency JTC Corporation, Surbana Jurong envisions creating Singapore-like cities around the globe by exporting packages of infrastructure, including industrial parks and residential dwellings. In doing so, it would help lay foundations for replicating Singaporean economic development.
One seed of this strategy is the Vietnam-Singapore Industrial Park, or VSIP, in Hai Phong -- a flagship project between the two governments. It was planned and developed by Surbana Jurong on a huge lot across a river from the heart of the northern Vietnamese city. Opened in 2012, the park is currently home to printer and apparel factories among others, but the plan is to develop it into a "mini Singapore" complete with high-rise condominiums and shopping malls.
Machinery and greenery
Surbana Jurong was established earlier this year through a merger between Surbana International Consultants, a developer of public housing, and Jurong International, which had focused on designing industrial facilities and infrastructure. The former built more than 1 million housing units in Singapore, while the latter designed urban developments and industrial parks in more than 150 locations worldwide.
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