Singapore has become Vietnam's leading investment partner after investing more than 36 bln USD in numerous local projects, including processing, technology, manufacturing, real estate, and storage.
Singaporean businesses have invested in many big projects, including Cai Mep – Thi Vai and Sai Gon Port. (Photo: vinalines.com.vn)
Hanoi (VNA) - Singapore has become Vietnam's leading investment partner after investing more than 36 billion USD in numerous localꦦ projects, including processing, technology, manufacturing, real estate, construction, transportation, and storage.
According to statistics provided by Vietnam's Foreign Investment Agency, Singapore-based firms implemented 30 new projects and increased investment levels in six existing projects in the first two months of 2016. Total investment in newly-registered projects, and additional capitalisation of existing ones, reached 470 million USD.
To date, Singapore has invested in nearly 1,570 projects in Vietnam, ranking third out of 112 countries and territories investing in Vietnam.
The average capital investment per Singaporean project in Vietnam is 23 million USD, which is much higher than the average foreign investment of 14 million USD per project.
In the processing and manufacturing sector, Singaporean firms have invested a total of 15.6 billion USD in 480 projects, accounting for 43 percent of Singapore's total investment in Vietnam.
Singaporean capital is also invested in real estate (11 billion USD), entertainment (1.8 billion USD), construction (1.7 billion USD) transportation and storage (1.4 billion USD).
HCM City is an attractive destination for Singaporean investors, who funded nearly 780 projects there with 9.6 billion USD. These investments account for 50 percent of the total projects in HCM City and 27 percent of Singapore's total investments in Vietnam.
About 74 percent of total Singaporean investment in Vietnam is in the form of wholly foreign-owned projects. There are 1,163 such foreign-owned projects, worth a total of 23.4 billion USD. The rest of Singaporean investment in Vietnam exists in the form of joint ventures, such as joint stock companies and business cooperation contracts.-VNA
Singaporean businesses are interested in investing in Vietnam, said Raymond Lui, Director of the International Enterprise Singapore (IE Singapore) Centre in Hanoi.
He said Vietnam’s orientation to the market economy, policies and investment climate inspired confidence in foreign investors, including Singaporeans.
Singapore top daily The Straits Times on September 13 quotes Grace Fu, Minister in the Prime Minister's Office, as saying that Vietnam, with a young and hard-working population, offers opportunities for Singapore’s firms despite recent fiscal challenges.
Singapore’s budget allocated for public transport will increase sharply in 2016, according to Chairman of the Government Parliamentary Committee for Transport Sitoh Yih Pin.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Singaporean businesses have invested in many big projects, including Cai Mep – Thi Vai and Sai Gon Port. (Photo: vinalines.com.vn)
