Destination for Singaporean investors

Vietnam remains a popular destination for Singaporean investors, as numerous Singaporean firms are doing business in Vietnam while many others are sounding out investment opportunities in the country.

Speaking at a conference held in HCMC last week to introduce the business climate and boost trade between Vietnam and Singapore, Kho Choon Keng, chairman of the Singapore Chinese Chamber of Commerce and Industry (SCCCI), said that Singaporean businesses are keen on the infrastructure, production, transport, logistics, education, tourism, finance and agriculture sectors in Vietnam. They also seek investment opportunities in new areas, including sustainability, the green economy and the digital economy.

Singapore and Vietnam have a close and long-lasting economic partnership. Bilateral trade has grown steadily over the past 10 years, totaling US$22.9 billion in 2022, he said at the event held by the HCMC Investment and Trade Promotion Center, the Vietnam Trade Office in Singapore and SCCCI. At the event, ITPC introduced a number of key projects to Singaporean investors, mainly in transport infrastructure. The projects include the HCMC-Moc Bai Expressway, Can Gio Bridge, Belt Road No. 4, Long Binh Inland Container Depot, Metro Routes No. 3 and No. 4, the Intelligent Operation Center, and the information reception and processing center. Singapore is the second largest investor among 140 nations and territories investing in Vietnam, with total registered capital of US$71.9 billion. It is the top foreign investor in HCMC with total investment of US$14 billion in 1,677 projects.