Singapore’s Soilbuild Group Holdings to invest $45 mln in Nghe An

The provincial authorities delivered the document to the firm last week as part of the “Tapping Opportunities in Nghe An Province of Vietnam to Expand and Grow Your Business” conference in Singapore. The event was hosted by Nghe An authorities, the Vietnamese Embassy in Singapore, and the Singapore Business Federation.

At the conference, the Deputy Chairman of Nghe An People’s Committee Bui Dinh Long,  expects the Vietnamese Embassy in Singapore to continue promoting cooperation between both sides, particularly, prioritized in sectors of trade, education, training, high technology, tourism, and others, Long said.

Nghe An confirmed Singapore is one of the top partners for economic cooperation and investment. So far, there are 124 foreign direct investment projects, with a total registered capital of $3.3 billion. Meanwhile, seven projects come from Singapore investors with a total committed investment of over $488.41 million, creating jobs for more than 10,000 workers.

In addition, Nghe An province has experienced rapid growth in recent years, with an average annual growth rate of over 9% per year. This places it among the top 10 localities in the country for foreign investment capital, and in the top 8 localities for FDI in the first half of 2023.

The province gained a revenue of $29.95 million from exporting goods to Singapore in the first half of the year, exceeding the achievement of $29.03 million in 2022. Accordingly, the import turnover increased by $58.78 million in the first half of 2023 compared to the whole year of 2022.