Vietnam, Second Most Attractive Destination for Singaporean Firms
Vietnam, just behind China, is now ranked second among the most appealing destinations for Singaporean investors, according to recent survey conducted by the island-nation’s Business Times.
China was selected as the country with the best investment prospects in the survey, with 29 per cent of the overall votes in the survey which interviewed 131 Singapore-based companies. This result is the same as the figure in the third quarter of 2005.
Meanwhile, the fast-growing economy of Vietnam has posted the second position with 13 per cent of the votes, a sharp increase compared to only 8 per cent of the third quarter in 2005.
The United Arab Emirates was picked as the prime land for investment by 10 per cent of the respondents in the next two years, placing the UAE in third spot.
In terms of transport and communications sectors, India was the country of choice with 21.4 per cent of the votes, followed by China and Malaysia with 14.3 per cent each.
As of late December last year, Singapore stood as the second largest foreign investor in Vietnam with 452 projects worth a total registered capital of over 8 billion, after Taiwan. (People’s Army)
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