Binh Duong eyes stronger trade, investment cooperation with Singapore
The southern province of Binh Duong is focusing on attracting investment from leading potential partners in the world with modern management, including those from Singapore, said a local official.
Vice Chairman of the provincial People’s Committee Nguyen Van Danh speaks at the conference (Photo: VNA)
Binh Duong (VNA) –The southern province of Binh Duong is focusing on attracting investment from leading potential partners in the world with modern management, including those from Singapore, said a local official.
Addressing an investment and trade promotion conference with Singaporean partners held in the locality on March 10, Vice Chairman of the provincial People’s Committee Nguyen Van Danh stressed that Binh Duong is calling on investment in less labour-intensive and environmentally friendly industries, financial services, logistics, supporting industries, and high-tech agriculture.
Jointly hosted by the Vietnam Trade Office in Singapore and the Singapore Chinese Chamber of Commerce and Industry (SCCCI), the conference is an important activity within the framework of a SCCCI delegation’s working trip to Vietnam from March 6-10. The Singaporean group is here to explore investment opportunities, seek goods supply sources and promote industrial, trade, and service investment in localities in Vietnam.
Cao Xuan Thang, First Secretary in charge of the Vietnam Trade Office in Singapore introduced the potential and opportunities for Singapore’s investment in industry in Vietnam, trade between Singapore and Vietnam, as well as opportunities and benefits brought by free trade agreements of which both are members.
Singapore is now the third largest foreign investor in Binh Duong with 278 projects worth nearly 6 billion USD. The country ranks second among 140 countries and territories investing in Vietnam with total registered capital of 71.85 billion USD.
The SCCCI is a reputable organisation in Singapore, with about 5,000 member companies and over 160 members being trade associations, representing more than 40,000 companies, including large businesses operating in both the industrial and commercial sectors. SCCCI's activities have attracted the participation of many Singaporean enterprises./.
Singapore remained the biggest foreign investor in Vietnam among the 51 countries and territories investing in Vietnam in the first two months of 2023, with 978.4 million USD, making up nearly 31.6% of the total registered foreign direct investment (FDI) in the country, down 42.7% year-on-year, the Ministry of Planning and Investment (MPI) reported.
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Vice Chairman of the provincial People’s Committee Nguyen Van Danh speaks at the conference (Photo: VNA) 
