Singapore’s businesses to pour 47.9 USD billion into Vietnam

20:36 20/03/2019
PSNews – According to the Ministry of Planning and Investment, Singapore runs 2,169 foreign direct investment (FDI) projects, valued at 47.9 billion USD, in Vietnam.

Singapore’s businesses to pour 47.9 USD billion into Vietnam.

At this point, Singapore ranks third among 130 countries and territories investing in Vietnam, after the Republic of Korea and Japan.

The Ministry of Planning and Investment said Singapore has invested in 18 out of the 21 economic sectors in Vietnam, of which the manufacturing and processing industry has ranked first with 574 projects worth nearly 20.17 billion USD or 40 percent of the country’s total investment in Vietnam.

Singapore businesses will show up in Vietnam in 2 form of 100% foreign owned companies (77% with 1,667 projects) and joint ventures (23% with 488 projects).

Currently, Singaporean businesses do business in 48 out of the 63 Vietnamese cities and provinces. The southern metropolis of Ho Chi Minh City has attracted the largest number of Singaporean projects (1,130) with total registered capital of 10.7 billion USD, followed by Hanoi (349 projects valued at 6 billion USD).
By Thien Minh