Singapore invests over US$33 billion in Vietnam

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.

By Van Thang – Translated by Hai Mien

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