Singapore Leads in Registered Investment Capital in Vietnam

HANOI, July 4 Asia Pulse - For the first six months of this year, Singaporean businesses registered to invest US$890 million in Vietnam, accounting for over 20 per cent of the country's total foreign direct investment (FDI), said the Ministry of Planning and Investment (MPI).

Consequently, Singapore heads the list of 36 countries and territories investing in Vietnam for the first half of this year. It is followed by the Republic of Korea and India with $734 million and $527 million, respectively.

Most of Singapore's proposed projects are in electronics and the service industry.

The country's significant amount of investment has been attributed to joint investment promotion efforts by the MPI and the Singapore-based Economic Development Board.

So far, Vietnam has attracted $5.2 billion in FDI for 2007, representing a year-on-year increase of 8 per cent.

(VNA)