More than 50 Singaporean leading companies arrived in southern Binh Duong province August 22 to hunt for investment opportunities, the local Vietnam Economic Times reported.
The guests under the Association of the Chinese’s Businesses in Singapore, mostly operates in the areas of industry, commerce, services, construction and banking.
At the meeting with the provincial officials, Chua Thian Poh, the association president, said the visit will be a good chance for his delegation to get important information which enables them to develop detailed plans to invest in Binh Duong.
Tran Van Loi, vice chairman of Binh Duong People’s Committee, introduced the Singaporean investors the locality’s advantages for economic development, infrastructure construction and domestic and foreign investment.
The companies were also informed of the land planning in the province’s industrial parks to welcome new projects.
Binh Duong is encouraging investment projects in property development, which is attractive to Singaporean businesses.
Singapore is the second largest foreign investor in Binh Duong after Taiwan.
Singapore invested US$15 billion in 580 foreign inverted projects as of mid-August this year, making it the fourth biggest foreign investor in Vietnam, according to the Ministry of Planning and Investment.
Most capital from the city nation is destined for property development projects, though industrial parks, infrastructure and services are also popular
Major projects include the Vietnam-Singapore Industrial Park (VSIP) in Binh Duong Province, one of the most successful industrial parks in the country. Over the last 12 years, VSIP has attracted 240 investment projects worth US$1.65 billion. (Vietnam Economic Times, VNS)
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