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Friday, July 19, 2024

Singapore investments top US$13.6 billion in HCMC

By Le Hoang

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HCMC – Among the foreign direct investment (FDI) companies active in HCMC, Singaporean investors top the list, with 1,560 projects and total registered capital of US$13.6 billion.

This information was revealed during a meeting organized in HCMC on August 23 to promote investment and trade between the two countries.

Speaking at the meeting, Cao Thi Phi Van, deputy director of HCMC’s Investment and Trade Promotion Center, said the city-state has the largest total registered capital in HCMC.

Singapore is now ranked fourth among the largest trade partners and second among 140 countries and territories investing in Vietnam with total registered capital of US$66 billion.

Nguyen Quoc Vinh, head of ITPC, introduced 197 projects in 10 areas, including transport infrastructure, urban upgrade, environmental treatment, flood control, agriculture, industry, commerce, services, education, health, culture, sports and tourism.

Technology corporations at the top of production chains and financial investors with eco-friendly technology are welcomed to HCMC. Besides, other services such as the digital economy, artificial intelligence, and information technology are also encouraged in the city.

HCMC has long attracted Singaporean investors with its skillful human resources, making the city the center of production and technology services.

According to HCMC’s Department of Planning and Investment, over the past seven months of this year, Singapore has been a leading investor in HCMC with 70 new projects and US$116 million in pledged capital.

Since 1988, the city has lured 10,832 projects with their investment capital reaching US$55.41 billion.

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