Singapore leads ASEAN in investment in Vietnam in Jan-Jun
Singaporean investors topped those from other Southeast Asian countries in investing in Vietnam with 1,428 projects worth US$32.2 billion in the first half of this year, according to figures released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Singaporean-owned projects accounted for 54.25% of the total number and 60.8% of the registered capital when it comes to projects run by investors from Southeast Asia by the end of June, the FIA said in a recent report.
Malaysia came second with 499 projects with a total investment of US$12.06 billion, making up 19% of the count and 22.1% of the capital.
It was followed by Thailand with 392 projects worth totally US$6.8 billion, accounting for 15% of the number and 12.5% of the registered capital.
Thailand was tailed by Brunei, Indonesia, the Philippines, Laos, and Cambodia.
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| A file photo shows a corner of the Vietnam-Singapore Industrial Park in Binh Duong Province, southern Vietnam. Photo: Tuoi Tre |
As of June, investors from the Association of Southeast Asian Nations (ASEAN) had 2,632 operational projects totaling US$54.6 billion in Vietnam.
A project financed by an investor from ASEAN countries was worth US$20.7 million, 48.9%, or around US$6.8 million, higher than the average of a foreign-invested project.
The ASEAN investment in Vietnam was mostly put in manufacturing and processing industries, with 1,009 projects worth US$22.2 billion, accounting for 40.8% of the total investment.
ASEAN investors have invested in 55 out of 63 provinces and cities in Vietnam, with their funds mostly channeled into large cities that have better infrastructure.
Ho Chi Minh City was the top destination in the first six months, with 1,144 projects worth US$15.07 billion, representing 27.6% of the total investment.
The southern economic hub was followed by Hanoi (417 projects, US$8.58 billion, and 15.7% of the total investment) and the southern province of Ba Ria - Vung Tau (67 projects, US$6.19 billion, and 11.3% of the total investment).
The regional group is currently transforming itself into a new stage of development, aiming to form an EU-style ASEAN Economic Community by the end of this year.