Singapore becomes Vietnam’s largest foreign investor in Jan.-Sept. period

Total foreign direct investment capital as of September 20, including newly granted and adjusted capital through capital contribution and share purchase value of foreign investors, reached $21.2 billion, down 18.9% on year.

In terms of the number of new projects, Singapore ranked fourth with 173 investment projects in Vietnam behind South Korea with 499 projects, China with 271 projects, and Japan with 209 projects.

The Bac Lieu Liquefied Natural Gas Power Plant project under LNG Bac Lieu Thermal Power Center of Singapore was one of the biggest foreign-invested projects in the country with a registered investment capital of $4 billion. The project aims to generate electricity from liquefied natural gas.

The sectors which attracted the most FDI during the reviewed period include the processing industry, manufacturing, real estate firms, along with the production and distribution of electricity, gas, hot water, steam, and air-conditioning.

Out of a total of 72 countries and territories which have newly licensed investment projects in the nation since the start of the year, Singapore represented the largest investor with $4.7 billion, accounting for 44.9% of total newly registered capital.

The island state was followed by China with $1,079.7 million, South Korea at $1,076.6 million, Hong Kong (China) at $876.1 million, and Taiwan (China) at $852.4 million.

Source: VOV