Singapore registers to invest over $41.38 billion in Vietnam

Singapore has 1,918 valid investment projects in Vietnam with the total registered capital of US$41.38 billion by the end of August, ranking third out of 122 nations and territories investing in the country.

Vietnam-Singapore Industrial Park in the southern province of Binh Duong

Vietnam-Singapore Industrial Park in the southern province of Binh Duong

That was reported according to data from Foreign Investment Agency under the Ministry of Planning and Investment at the 13th ministerial conference on Vietnam-Singapore economic connectivity in Hanoi yesterday.
Vietnam has 93 projects in Singapore with the total capital of $235 million. Singapore ranks 12 out of 72 countries and territories which Vietnam has invested in.
The projects concentrate in fields such as oil and gas, mining, retail, services, information technology and logistics.
Vietnam-Singapore Industrial Park (VSIP) is the highlight in the cooperation relationship between the two countries. VSIP Group has developed a total of eight projects in Vietnam over 8,400 hectares, obtained the export turnover of $32 billion and created jobs for 200,000 workers.
Minister of Planning and Investment Nguyen Chi Dung said that the conference aims to continue exchanging solutions, sharing experiences to intensify the cooperation between Vietnamese and Singaporean authorized agencies. Through these activities, the connectivity between Vietnamese and Singaporean economies will be boosted in all fields.
Within the framework of the conference, the Vietnamese Ministry of Planning and Investment, the Singaporean Ministry of Trade and Industry and the People’s Committee of Quang Tri province coordinated together to organize an investment promotion conference in the north central province.

By ANH THU – Translated by Hai Mien

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