Singapore’s investment in Vietnam surge
VOV.VN - Singaporean businesses have pledged to invest US$730 million in 50 new projects and 23 existed ones in Vietnam in the first four months of this year, ranking second among foreign investors in Vietnam, according to the Foreign Investment Agency (FIA).
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The Ministry of Planning and Investment reported that Singapore businesses have invested in 18 out of 21 economic sectors, mainly manufacturing and processing industries (494 projects with a total registered capital of US$16.1 billion), and real estate (81 projects with US$10.9 billion).
Many Singaporean projects in Vietnam have been operating effectively, contributing to job generation, export promotion and economic growth.
Worthy of note are the Vietnam-Singapore Industrial Parks (VSIP), which has been built in Binh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong, and Nghe An.
According to FIA, Singapore’s investment has expanded from Ho Chi Minh City, Hanoi, Hai Phong and Binh Duong to other provinces and cities such as Nghe An and Thai Nguyen.
Singaporean businesses have invested in 46 out of total 63 provinces and cities in Vietnam.
HCM City took the lead in attracting Singapore’s investment with 799 projects valuing at US$9.75 billion and Hanoi came second with 256 projects with US$4.65 investment capital.
