Singapore becomes leading investor in Viet Nam

March 15, 2016 | 10:26

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Singapore has become Viet Nam's leading investment partner after investing more than US$36 billion in numerous local projects, including processing, technology, manufacturing, real estate, construction, transportation, and storage.

Singaporean businesses have invested in many big projects, including Cai Mep – Thi Vai and Sai Gon Port. - Photo vinalines.com.vn

According to statistics provided by Viet Nam'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.

To date, Singapore has invested in nearly 1,570 projects in Viet Nam, ranking third out of 112 countries and territories investing in Viet Nam.

The average capital investment per Singaporean project in Viet Nam is $23 million, which is much higher than the average foreign investment of $14 million per project.

In the processing and manufacturing sector, Singaporean firms have invested a total of $15.6 billion in 480 projects, accounting for 43 percent of Singapore's total investment in Viet Nam.

Singaporean capital is also invested in real estate ($11 billion), entertainment ($1.8 billion), construction ($1.7 billion) transportation and storage ($1.4 billion).

HCM City is an attractive destination for Singaporean investors, who funded nearly 780 projects there with $9.6 billion. These investments account for 50 per cent of the total projects in HCM City and 27 per cent of Singapore's total investments in Viet Nam.

About 74 per cent of total Singaporean investment in Viet Nam is in the form of wholly foreign-owned projects. There are 1,163 such foreign-owned projects, worth a total of $23.4 billion. The rest of Singaporean investment in Viet Nam exists in the form of joint ventures, such as joint stock companies and business cooperation contracts.

VNS

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