Singaporean investment in Vietnam has kept on a steady growth momentum over the past years. Phan Huu Thang, former head of the Ministry of Planning and Investment’s Foreign Investment Agency, discussed with VIR the movements in Singaporean investment and the future prospects ahead. What main trends affected Singaporean investment in Vietnam over the past years? Looking back on the 30-year foreign investment journey in Vietnam, Singapore has been among the largest foreign investors in Vietnam with a number of large-scale projects such as the Vietnam-Singapore shipping joint venture GEMATRANS, Hoang Gia Hotel, and others. At the time, they had an important role in luring other foreign-invested projects in industrial park development, real estate, and shipping in Vietnam. Vietnam-Singapore Industrial Park (VSIP) is a prime example of the meaning and influence of these first projects. VSIP is now present in many cities and provinces, including Bac Ninh, and Haiphong. Singaporean investment in Vietnam has continued to grow. In the first seven months of 2019, Singapore registred over $2.3 billion worth of capital, over $942 million of which came from 139 newly-licensed projects, over $386 million from 54 capital expansion projects, and over $1 billion from 325 stake acquisitions. As of July… Read full this story
Bright future prospects for Singaporean investment in Vietnam have 205 words, post on www.vir.com.vn at August 19, 2019. This is cached page on Vietnam Art News. If you want remove this page, please contact us.