Illustrative photo (Source:VNA)
Hanoi (VNA) – Singapore invested in 50 new projects and increased investment capital to 23 existing projects with a total registered capital of over 730 million USD in the first four months of this year.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, Singapore is now the second largest foreign investor in Vietnam.

A project invested in by Singaporean firms costs an average of 22.7 million USD, higher than the average level of a foreign-invested project in Vietnam, which is only worth around 13.8 million USD.

The Singaporean investors have poured capital into 18 out of 21 sectors of the economy, mainly in the processing and manufacturing industry with 494 projects worth 16.1 billion USD, or 44.3 percent of the Singaporean investment.

The real estate sector has 81 Singapore-invested projects worth nearly 10.9 billion USD, making up 30 percent of the total.

Vietnam is now home to seven Vietnam-Singapore Industrial Parks operating in six provinces: Binh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong and Nghe An.

Ho Chi Minh City has attracted the most projects and investment from Singapore ,with 799 projects worth more than 9.75 billion USD. It was followed by the capital of Hanoi, which has drawn 256 projects worth 4.65 billion USD.-VNA