Singapore Tops List of FDI Investors in Vietnam

Singaporean investors have registered to pour US$890 million in Vietnam in the first half this year, representing over 20 per cent the country’s total foreign direct investment (FDI), according to the Ministry of Planning and Investment (MPI).

 

The figure put Singapore on the first position in the list of 36 countries and territories investing in Vietnam during the time and but also the biggest in the country so far with 474 projects capitalized at US$9.07 billion.

 

It was followed by South Korea and Taiwan with US$8.72 billion and US$8.48 billion respectively.

 

The Singaporean investment mostly focuses on electronics and the service industry, the MPI said.

 

According to a survey conducted by the Singapore’s Business Times in February this year, Vietnam, just behind China, was ranked second among the most attractive destinations for the island-nation investors.

 

During the talk with Deputy Prime Minister Nguyen Sinh Hung on his visit to Singapore to attend World Economic Forum on East Asia from June 24-25, Singaporean Prime Minister Lee Hsien Loong hoped Vietnam and Singapore to have new cooperative projects in the fields of aviation services, finance, and construction of industrial parks and export processing zones, and transport,

 

Total FDI into Vietnam is estimated to have reached US$5.217 billion in the first six months this year, up 8 per cent on-year, the MPI reported. (VNA)