In addition to the real estate sector, Vietnam has recently been
considered a key market for many financial and
technology enterprises from Singapore.
Investment capital flows of Singaporean businesses are flowing
strongly into southern provinces to welcome opportunities when Vietnam joins
many free trade agreements (FTAs).
According to a report by Ho Chi Minh City Statistics Office, in
the first 9 months of 2020, out of 111 countries and territories having
investment projects in the City, businesses from Singapore contributed 813.5
million USD, accounting for 25 % of total foreign direct investment (FDI) in Ho
Chi Minh City.
Broadly, according to recent statistics, out of 106 countries and
territories having investment projects in Ho Chi Minh City, Singapore is ranked
first with 1,100 projects with a total investment of 10.73 billion USD. Up to
now, there have been many investors, large corporations of Singapore such as
Keppel Land, Capital Land… having large-scale projects in Ho Chi Minh City.
In Binh Duong, from the beginning of the year up to now, Singapore
businesses have invested the third largest investment capital among countries
and territories investing in this locality, with a total registered capital of
198 million USD, accounting for 16% of the total investment capital.
According to the Singapore Consulate General in Ho Chi Minh City,
up to now, this country has invested in Dong Nai more than 70 projects with a
total registered capital of about 3.6 billion USD, ranking 4th among countries
and territories investing in this province. Singapore businesses invest in Dong
Nai quite successfully, so many businesses are researching and planning to
continue to invest.
A month ago, when receiving the project investment certificate of
SG Logistics Joint Stock Company with an investment of more than 80 million USD
in Tan Phu Trung Industrial Park, the CEO of BW Group said that this was the
third project of this business in Ho Chi Minh City to
prepare for investment waves.
In fact, businesses from Singapore operating in the field of
industrial real estate soon had projects in Binh Duong, Ho Chi Minh City, Dong
Nai… and had outstanding successes.
According to experts, with the impact of FTAs and the movement
of capital into Vietnam, industrial real estate and logistics are the fastest
growing segments recently. In particular, investors from Singapore, having an
early presence in Vietnam, actively preparing many large land banks in the
strongly developed industrial areas, are considered to have many advantages.
In addition to the real estate sector, Vietnam has recently been
considered a key market for many financial and technology enterprises from
Singapore to set up company and
enter the market. According to Chairman of Bankograph Pte Limited, a
Singapore’s fintech company, Vietnam
stands out as a leading destination for foreign investors, not only in the
financial sector, but also in many other sectors.
The wave of Singapore’s technology enterprises participating in
investment and cooperation in Vietnam has been more strongly developed in the
past two years. For example, Finaxar cooperates with Indovina Bank Vietnam to
provide suitable financial support solutions for small and medium enterprises…
With the above handshakes, Vietnamese companies and financial
institutions will benefit in cooperation with Singapore’s fintech company. At
the same time, cooperation between businesses of the two countries is expected
to create an ecosystem in the fields of finance and technology.
ANT Lawyers is a law firm in Vietnam, recognized by Legal500, IFLR1000. We are an
exclusive Vietnam member of Prea Legal, the global law firm network covering
more than 150 jurisdictions. The firm provides a range of legal services to
multinational and domestic clients.
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