Singaporean capital flows to Vietnam on upswing

Singapore has poured over 33 billion USD into numerous projects in Vietnam in processing technology, manufacturing, real estate, education and entertainment.

Wednesday, August 12, 2015 10:22

Singaporean capital flows to Vietnam on upswing ảnh 1

An overview of the Vietnam-Singapore Industrial Park in central Quang Ngai province (Photo: VNS/VNA)

Singapore has become Vietnam’s leading investment partner after an amount of over 33 billion USD has been poured into numerous local projects in processing technology, manufacturing, real estate, education and entertainment.

About 7.8 billion USD in foreign direct investment has been drawn to Vietnam-Singapore Industrial Parks (VSIPs), creating jobs for over 155,000 labourers, said Kelvin Teo, CEO of Sembcorp’s Urban Development business and co-chair of the VSIPs.

The VSIP in central Quang Ngai province alone, which opened at the end of 2013, has attracted 10 FDI projects with a combined value of over 132 million USD. Local authorities also gave a green light to Singaporean UMW to build a plant in the park.

Singaporean Temasek Holding-owned Mapletree Investments Pte., Ltd has committed to splash out 1 billion USD on projects to develop industrial zones, offices and condominiums in Vietnam. Famed Banyan Tree, Keppel Land and CapitalLand will also invest in numerous large-scale property projects in the country.

International schools funded by Singaporean KinderWorld Education Group have sprung up in provinces and cities nationwide.

Meanwhile, Freight Links Capital Pte.,Ltd will spend 114 million USD on two harbour bridges in Ky Anh district in the central province of Ha Tinh.

Investment opportunities between the two nations are growing, given the expanding bilateral relations and the international commitments the two sides are joining, such as the Trans-Pacific Partnership and ASEAN Economic Community.

Cooperation relations have advanced since the two nations signed a framework agreement on economic connectivity in 2005, focusing on education-training, finance, telecommunication, investment-trade, service and transport.

At the 11th Ministerial Meeting on Vietnam-Singapore Economic Connectivity held in April, Minister of Planning and Investment Bui Quang Vinh reiterated Vietnam’s interest in economic cooperation with Singapore.

He also asked Singapore to implement initiatives under the agreement, undeജrscoring that Vi✨etnam creates favourable conditions for Singaporean business operations.-VNA

VNA

#Singapore #VSIP #business #processing technology #FDI #manufacturing Singapore

See more

Representatives from Phu Quoc city and agencies at the press conference to announce the fisrt Phu Quoc fish sauce festival. (Photo: VNA)

Phu Quoc to host first fish sa✨uce festiva🤡l this month

19/06/2025 02:24

The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.

Masterca⛎rd reaffirms commitment to supporting Vietnam’s cashless future

18/06/2025 23:00

According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.

Three subsidiaries of Viettel enter Fortune Southeast Asia 500 list (Photo: VNA)

Three subsidiaries of Viettel enter𒀰 Fortune Southeast Asia 5💮00 list

18/06/2025 19:10

Vietnam has 76 businesses on the list this year, with total revenue of more than 160 billion USD.

Bac Ninh city to develope an urban area in the southeastern part. (Photo: diendandothi.kinhtedothi.vn)

ꦦ Korean firm seeks cooperation in developing urban project in Bac Ninh

18/06/2025 19:02

Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.

Do Thi Thuy Huong, a member of the Executive Board of the Vietnam Electronic Industries Association (VEIA), speaks at the seminar. (Photo: Screenshot)

Vie🥂tnam, India explore cooperation opportunities in electricity, electronics sectors

18/06/2025 17:34

With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.

Wind energy is expected to be a source of clean power. (Photo: VNA)

Germany inv🗹ests 50 million USD in renewable energy workforce training in Vietnam

18/06/2025 15:19

The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.

Vietnam is becoming a new hub in the regional supply chain, leading to a sharp increase in demand for industrial real estate, logistics and housing for foreign experts. (Photo: VNA)

Savills expert points out t🌞hree drไivers of FDI attraction in Vietnamese real estate

18/06/2025 12:25

A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.

ITM Semiconductor Vietnam Co., Ltd. in VSIP Industrial Park, Tu Son, Bac Ninh has always been given favorable conditions by the locality for production and business. (Photo: VNA)

🔯 Bac Ninh exerts efforts to ensure businesses thrive

18/06/2025 11:09

To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.

Vietnamese Ambassador to Sweden (second, from left) Tran Van Tuan meets with representatives of H&M. (Photo: moit.gov.vn)

H&M, Nordic businesses seek suppl♛iers♔ in Vietnam

18/06/2025 10:05

The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.

The daily reference exchange rate for the US dollar is set at 26,244 VND/USD on June 18. (Photo: VNA)

Reference exchange rate down 3 VND on June 18

18/06/2025 09:17

The State Bank of Vietnam set the daily reference exchange rate at 24,994 VND on June 18, up 5 VND from the previous day.

Vietjet places additional order for 40 Rolls-Royce Trent 7000 engines to power its A330neo fleet. (Photo courtesy of Vietjet)

Vietjet places major order for 40 additional Rolls-Royce Tre✱nt 7000 engines

18/06/2025 09:05

This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.

Petrovietnam Ca Mau Fertiliser JSC's fertiliser products has achieved “Level One” certification for bulk fertiliser in Australia. (Photo: VNA)

Fertiliser exports – bright spot for Petrovie🍒tnam Ca Mau Fertiliser JSC in H1

18/06/2025 03:24

Fertiliser products of the PVCFC are now available in over 20 countries, including demanding markets such as Australia and New Zealand.

Minister of Industry and Trade Nguyen Hong Dien at the 15th National Assembly’s 9th session on June 17 (Photo: VNA)

Vietnam ramps up efforts against coun🀅terfeit goods amidst challenges: Minister

17/06/2025 20:28

Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.