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Vietnam’s manufacturing sector drawing many Singapore companies to set up shop

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Jamille Tran

Published Sun, Nov 12, 2023 · 05:14 PM
    • Representatives from Singapore businesses touring the YCH SuperPort, a warehouse facility located in Vietnam's northern province of Vinh Phuc. In the first 10 months of 2023, investors from Singapore poured some US$4.65 billion into Vietnam.
    • Representatives from Singapore businesses touring the YCH SuperPort, a warehouse facility located in Vietnam's northern province of Vinh Phuc. In the first 10 months of 2023, investors from Singapore poured some US$4.65 billion into Vietnam. PHOTO: SINGAPORE BUSINESS FEDERATION

    [HANOI] When foreign investors look at opportunities in Vietnam, the data shows they are typically drawn to the country’s vibrant manufacturing sector.

    The latest available figures from the country’s Ministry of Planning and Investment showed the processing and manufacturing industry accounted for just over 60 per cent – or US$16.8 billion – of Vietnam’s foreign direct investment (FDI) of US$28 billion last year.

    By flow, Singapore’s investment of US$6.46 billion – accounting for almost a quarter of the total foreign capital investment in 2022 – makes it Vietnam’s largest foreign investor for the third straight year.

    AseanAsean BusinessVietnamManufacturingSingapore Business Federation

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