Today we had the pleasure of visiting not one but two companies being Vietnam Singapore Industrial Park (VSIP) and II-VI, who are very different in there goals, but have a unique tie compared to any of the other companies we visited so far. VSIP is a company that takes plots of land and renovates it to rent it out to both businesses to build factories and residents who both work in these factories and those that don’t. II-VI Vietnam is a manufacturing company that is one of the companies located on the land owned by VSIP which is the reason we went to both on the same day.
VSIP is a company that was originally founded by a joint connection of the governments of Singapore and Vietnam to provide these industrial parks to house the businesses of foreign investors of Vietnam. Today they seem to still get significant backing from the governments of both countries, however they are making individual profit off of the already built industrial parks. Also I feel like a government that seems to be pushing the globalization and development of their country is someone that would be a great benefit to land foreign investors. II-VI Vietnam on the other hand is focused on manufacturing optoelectronic components and is actually operated out of the United States, but utilizes the cheap labor prices in Vietnam to make the parts that they need to fill orders from companies such as Microsoft and Google. This company existing seems to deal with what we were told on a company visit last week that as Vietnam continues to develop, they will start making more and more advanced products. However, this provides the problem of taking the time and money to get the proper training for these workers, and it’s a lot harder to teach someone how to construct a piece of an optoelectronic component in comparison to a t-shirt. Overall, these two companies in my mind perfectly symbolize globalization and development, as VSIP brings in new foreign investors to have ties in Vietnam, and II-VI is representing how far Vietnam has spring boarded into the modern age of technology.