Vietnam is an attractive destinationfor Singaporean investors as it shares a lot of cultural similaritieswith the island nation, said Chiong Woan Shin, International Enterprise(IE) Singapore Regional Director for Asia and the Pacific.
“ Vietnam has proven itself an attractive market for many foreigninvestors, especially after it joined the World Trade Organisation,” shestressed.
According to Chiong, the political stability, young and abundanthuman resources, and investment incentive policies are factors that helpVietnam draw the attention from foreign investors in general andSingaporeans in particular.
By the end of the 2010 first quarter, Singapore ranked third amongcountries and territories investing in Vietnam with a totalregistered capital of 146.7 million USD, accounting for 6.9 percent ofthe country’s total foreign investment, said the Ministry of Planningand Investment (MPI)’s Foreign Investment Agency (FIA).
Singapore ’s projects mainly focus on urban infrastructuredevelopment, building of industrial parks, export processing zones andseaports, transport, health, education, tourism, food processing andconsumer goods.
A FIA representative said the average size of Singaporean projectsreached 18.7 million USD per project, two or three times higher thanthat of other countries and territories such as the Republic of Korea, Taiwan , Hong Kong and Malaysia .
The Vietnam-Singapore Industrial Park (VSIP), which began operationsin January 1996, is considered a model for operation and managementwork. The VSIP model has been multiplied in both northern and southernregions of the country.
At present, the MPI and the Singaporean Economic Development Agencyare speeding up the adjustment of a rapid agreement mechanism ongranting investment certificates in order to lure more FDI fromSingaporean investors.
Recently, the IE has sent a delegation of leaders of 22 Singaporeanorganisations and businesses to survey the Vietnamese market./.
“ Vietnam has proven itself an attractive market for many foreigninvestors, especially after it joined the World Trade Organisation,” shestressed.
According to Chiong, the political stability, young and abundanthuman resources, and investment incentive policies are factors that helpVietnam draw the attention from foreign investors in general andSingaporeans in particular.
By the end of the 2010 first quarter, Singapore ranked third amongcountries and territories investing in Vietnam with a totalregistered capital of 146.7 million USD, accounting for 6.9 percent ofthe country’s total foreign investment, said the Ministry of Planningand Investment (MPI)’s Foreign Investment Agency (FIA).
Singapore ’s projects mainly focus on urban infrastructuredevelopment, building of industrial parks, export processing zones andseaports, transport, health, education, tourism, food processing andconsumer goods.
A FIA representative said the average size of Singaporean projectsreached 18.7 million USD per project, two or three times higher thanthat of other countries and territories such as the Republic of Korea, Taiwan , Hong Kong and Malaysia .
The Vietnam-Singapore Industrial Park (VSIP), which began operationsin January 1996, is considered a model for operation and managementwork. The VSIP model has been multiplied in both northern and southernregions of the country.
At present, the MPI and the Singaporean Economic Development Agencyare speeding up the adjustment of a rapid agreement mechanism ongranting investment certificates in order to lure more FDI fromSingaporean investors.
Recently, the IE has sent a delegation of leaders of 22 Singaporeanorganisations and businesses to survey the Vietnamese market./.
