Singapore third largest foreign investor in Vietnam

Singapore has more than 1,600 valid investment projects with a total registered capital of over 37.9 billion USD in Vietnam at present,making Singapore the third largest investor in the country.

Monday, August 29, 2016 15:12

Singapore third largest foreign investor in Vietnam ảnh 1

Singapore's VSIP Quang Ngai urban housing project (Photo:VNA)

Singapore (VNA) – Singapore has more than 1,600 valid investment projects with a total registered capital of over 37.9 billion USD in Vietnam at present, mainly in manufacturing and processing, making Singapore the third largest investor in the country, after the Republic of Korea and Japan.

Foreign direct investment (FDI) from Singapore has entered 18 of 21 economic sectors in Vietnam, with the major investment areas being processing and manufacturing, where Singaporean firms have been involved in 494 projects with total registered capital of over 16 billion USD, accounting for more than 44 percent of the island country’s investment.

Real estate ranks second with 81 projects, registering nearly 11 billion USD in capital.

The average capital scale of Singaporean projects in Vietnam is nearly 23 million USD.

Singaporean investment is present in 46 of 63 provinces and cities of Vietnam. The southern city of Ho Chi Minh attracts the most FDI from Singaporean firms with 799 projects and nearly 10 billion USD registered capital, followed by the capital city of Hanoi with 256 projects and nearly 5 billion USD registered capital.

Chief Executive Officer of Singapore Business Federation (SBF) Ho Meng Kit expressed hope in the investment prospects of Singaporean enterprises in Vietnam, adding that the SBF are cooperating with localities to implement investment promotion programmes to grab opportunities when the Trans-Pacific-Partnership takes effect.

He said that Singaporean enterprises are interested in investing in Vietnam in manufacturing, property, hi-technology and infrastructure services such as harbours, transportation and energy, agricultural products, and tourism.-VNA

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