Four Singaporean groups receive investment licences in Binh Duong

The granting of investment certificates took place within the framework of the event "Meet Singapore 2023" held in Binh Duong on December 11.

Accordingly, Tetra Pak Binh Duong JSC poured an additional $173 million into its project in the locality. In 2019, Tetra Pak inaugurated the country’s first-ever aseptic carton packaging material factory in Binh Duong, adding Vietnam to its global supply chain map. The facility specialises in producing aseptic cartons for domestic and export markets in ASEAN, Australia, and New Zealand.

The second project is invested by Becamex-VSIP Power Investment and Development JSC with an investment capital of $4.2 million. Under the project, the company will install and distribute solar power to factories across industrial parks in the locality.

R-PAC Vietnam Co., Ltd.'s branch company invests $2.5 million in labels and packaging, with an investment capital of $2.5 million. Meanwhile, Petersson Vietnam Technology Co., Ltd. injects $2 million into communication equipment manufacturing and outsourcing.

Binh Duong is the second-largest foreign direct investment (FDI) recipient in Vietnam. The province has so far attracted more than 4,200 projects from 65 countries and territories, with a total capital of more than $40 billion. Among them, Singapore is the third largest investor in Binh Duong. Singaporean companies have invested in 290 projects with the total investment capital of nearly $5.5 billion.

In 2023, Singapore takes the lead among countries and territories investing in Binh Duong with the total investment capital of more than $450 million, accounting for 27.5 per cent of the total sum.

Kho Ngee Seng Roy, consul general of Singapore in Ho Chi Minh City said, "Binh Duong is one of the most attractive and promising locations in Vietnam for Singaporean investors, thanks to its strategic location in the Southern Key Economic Region. Going forward, Singapore will continue to accompany Vietnam in general and Binh Duong province in particular in innovation and digital transformation, especially developing renewable energy and green industrial parks."

Vo Van Minh, Chairman of Binh Duong People's Committee said, "Binh Duong is making efforts to lure Singaporean investment and cement cooperation with Singaporean partners. Hopefully, Singapore will continue to support the province in promoting cooperation in new fields towards green and sustainable development such as renewable energy, innovation, startups, and high-quality human resources development."

Abundant potential for Vietnam-Singapore relations Vietnam and Singapore have been working closely to strengthen bilateral ties in the green and digital economy. Gan Kim Yong, Singapore Minister for Trade and Industry, spoke with VIR’s Minh Anh on the sidelines of the Singapore Week of Technology and Innovation 2023, about the next steps for bilateral relations.

Singaporean investors increasingly drawn to Vietnam Thanks to the open economic landscape and enormous growth potential in various sectors, Vietnam has always been on the list of favourable destinations for Singaporean investors, who have consistently been among the leaders in terms of foreign capital inflows into the country.

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