Singapore is the largest FDI in HCMC with US$ 8,7 billion - Singapore is the largest FDI in HCMC with US$ 8,7 billion - Website Ho Chi Minh City
On July 31, Singapore Consulate General in HCMC hosted the 5th anniversary of Singapore’s Independence (August 9 1965-August 9 2015), Chairman of HCMC People’s Committee attended.
At the ceremony, Consul General Leow Siu Lin reviewed the traditional 50th National Day of Singapore and highlighted Vietnam-Singapore friendship, co-operation relations in general and between Singapore and HCMC in particular. With a total investment capital of over US$ 32 billion, Singapore ranks third in foreign countries investing in Vietnam and the largest foreign investor in HCMC with over US$8, 7 billion. Recognizing development potentials in Vietnam, many Singaporean companies have been committed to long-term investment in Vietnam and continue to seek for investment expansion. Exchanging activities of both sides’ people have been very positive. About 3,000 Singaporean people are now living in HCMC and neighboring provinces, many Vietnamese people are now living, studying and working in Singapore. Both countries are looking forwards to a closer co-operation in the future. A good political relation between Vietnam and Singapore is a firm foundation for closer economic co-operation.
Mr. Le Hoang Quan sent his congratulations to people of Singapore who are living and working in HCMC on the occasion of 50th birthday of Singapore, he highly appreciated intelligence of creative spirit of people of Singapore.
Mr. Quan added HCMC is a pioneer in co-operating with Singapore thanks to short distance and cultural similarities. In economy, the presence of 500 Singaporean companies together with many typical projects in HCMC is a clear proof for strong economic co-operation between HCMC and Singapore.
In term of investment, (capital accumulation till 2014) Singapore ranked No1 position in foreign countries and territories investing in Vietnam. In term of trade, two way trade between HCMC and Singapore in 2014 reached US$4, 4 billion.