Singapore has invested in nearly 1,400 projects in Vietnam with a total registered capital of US$33.05 billion as of March this year.
|Vietnam Singapore Industrial Park (VSIP) in Binh Duong province|
That was revealed at the 11th Ministerial Meeting on Vietnam-Singapore Economic Connectivity in the central province of Thua Thien-Hue last weekend, when the two sides talked about achievements obtained in six cooperation fields including banking-finance, information-communication, education and training, traffic, investment, trade and service.
Singapore was ranked the third in nations and territories investing in Vietnam after South Korea and Japan. Average investment capital was US$23.75 million per project, much higher than that of foreign invested projects in Vietnam.
At the meeting, the Vietnam National Administration of Tourism and the Singapore Tourism Board signed a memorandum of understanding (MOU) on tourist collaboration. Foreign Investment Agency under the Ministry of Planning and Investment and Singapore’s United Overseas Bank also contracted another MOU on investment promotion.