Vietnam a viable market for overseas expansion: IE S'pore

Singapore

THE strong numbers are proof that Vietnam remains one of the key South-east Asian markets for Singapore companies big and small.

As at the end of 2016, Singapore maintained its status as the third-largest foreign investor in Vietnam - after South Korea and Japan - with registered cumulative investments of US$37.9 billion in 1,786 projects.

Singapore is also the top investor among all the Asean member states, with the Lion City accounting for about 60 per cent of Asean's total foreign direct investment into Vietnam.

Overall, Singapore was Vietnam's sixth-largest trading partner in 2015, while Vietnam ranked as Singapore's 12th-largest. Last year, bilateral trade stood at S$19.8 billion.

Ivan Tan, the group director of South-east Asia and Oceania at International Enterprise (IE) Singapore, notes that manufacturing continues to be a "very viable" opportunity for Singapore firms eager to expand in Vietnam.…