|
Singapore eyes opportunities
Singaporean companies will continue to invest in Viet Nam this year because they still consider the country as one of the most attractive investment markets in Southeast Asia, said Chiong Woan Shin, International Enterprise Singapore's regional Director for Viet Nam and Cambodia.
She revealed that Singaporean property firm Allgreen will announce this month its first real estate project in Viet Nam worth roughly US$105 million in HCM City.
Chiong said besides real estate, Singaporean companies are also seeking opportunities to invest in services and infrastructure development.
There has been a changing trend in Singaporean investment in Viet Nam, Chiong said, adding that companies are increasing investment capital in services and logistics to meet the rising development demands of Viet Nam's big cities.
More and more companies are showing interest in the logistics sector in Viet Nam and seeking investment and expansion opportunities in this field, Chiong said.
Viet Nam is Singapore's 14th biggest trade partner with two-way trade growth of 6.6 per cent over the last five years, reaching $13.4 billion in 2009.
Singapore is Viet Nam's fifth biggest foreign investor with over 770 projects capitalised at $17 billion until the end of 2009.
Viet Nam offers Singaporean businesses not just cheap labour but a sizeable market with a growing middle class. The country is also not far from Singapore, said Chiong.
vietnamnews
|
