Singapore is top investor in Vietnam for 2nd year running

Singapore

SINGAPORE leads foreign direct investments into Vietnam for the second consecutive year as firms continue to diversify their businesses, expand and capture new opportunities despite the Covid-19.

Total foreign direct investments (FDIs) into Vietnam remain sizeable, amounting to US$28.5 billion in 2020 and US$23.8 billion in the first ten months of this year.

Singapore's FDIs into Vietnam stood at US$6.8 billion for the first 10 months of 2021, making the city-state the top investor there. In 2020, Singapore's FDIs into Vietnam were US$8.99 billion, the largest, beating South Korea's US$3.7 billion and China's US$2.4 billion, according to Ministry of Planning and Investment, Vietnam.

Chew Hwee Yong, global markets director for South-east Asia at Enterprise Singapore (ESG) tells The Business Times that firms are attracted to Vietnam's economic potential and large domestic market with a growing middle-clas…

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