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Singapore ranks second biggest foreign investor in Vietnam
Thu Minh 09:52, 2016/05/10
According to the Foreign Investment Agency under the Ministry of Planning and Investment, with a total registered capital of over 730 million USD in the first four months of this year, Singapore has now been the second largest foreign investor out of 112 countries and territories investing in Vietnam.
Singapore has become Vietnam's leading investment partner after investing more than 36 billion USD in numerous local projects, including processing, technology, manufacturing, real estate, construction, transportation, and storage.
In January-April, Singapore-based companies implemented 50 new projects and increased investment levels to 23 existing projects with a total registered capital of over 730 million USD.
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.
 
Singaporean businesses have invested in many big projects, including Cai Mep – Thi Vai and Sai Gon Port.
Singaporean businesses have invested in many big projects, including Cai Mep – Thi Vai and Sai Gon Port.
The Singaporean investors have poured capital into 18 out of 21 sectors of Vietnamese economy, mainly in the processing and manufacturing industry with 494 projects worth 16.1 billion USD, accounting for 44.3% of the Singaporean investment.
Singaporean capital has been also invested in real estate with 81 projects worth nearly 11 billion USD, making up 30% of the total, entertainment (1.8 billion USD), construction (1.7 billion USD) transportation and storage (1.4 billion USD).
Vietnam is now home to seven Vietnam-Singapore Industrial Parks operating in six provinces: Binh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong and Nghe An.
HCM City is the most attractive destination for Singaporean investors, who funded 799 projects worth more than 9.75 billion USD. It was followed by Hanoi city, which has attracted 256 projects worth 4.65 billion USD.
About 74% of total Singaporean investment in Vietnam is in the form of wholly foreign-owned projects. There are 1,163 such foreign-owned projects, worth 23.4 billion USD. The rest of Singaporean investment in the country exists in the form of joint ventures, such as joint stock companies and business cooperation contracts.
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