# Critical Sectors for Singapore’s Investments in Vietnam

- Link: https://www.thailand-business-news.com/asean/153772-critical-sectors-for-singapores-investments-in-vietnam
- Published: 2024-07-30T09:02:00+07:00
- Author: ASEAN Briefing

**Vietnam and Singapore enjoy a robust strategic partnership, with Singapore contributing
to 18% of Vietnam’s FDI in 2023. More than 3,000 Singaporean firms are investing
in vital sectors, and Foxconn is broadening its operations.**

## Flourishing Strategic Partnership

Vietnam and Singapore have fostered a robust and expanding strategic partnership
in trade and investment. This relationship is marked by significant achievements
and ongoing cooperation, reflecting mutual benefits and shared goals. Both nations
continue to leverage their strengths to enhance economic ties, contributing to notable
growth in investment and collaborative ventures.

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## Impressive Investment Growth

In 2023, Singapore’s contribution to Vietnam’s Foreign Direct Investment (FDI) was
substantial, accounting for 18 percent of the total, equating to US$6.9 billion,
a 5.4 percent increase year-on-year. By 2024, over 3,000 Singaporean companies had
set their sights on Vietnam, establishing the city-state as Vietnam’s largest foreign
investor. Singaporean firms have been notably active in sectors such as manufacturing,
real estate, retail, and financial services, driving forward the economic synergy
between the two countries.

## Key Sectors for Singapore’s Investments in Vietnam

Foxconn Singapore, a key player in the electronics manufacturing sector, is making
significant strides in Vietnam. The company plans to produce Nokia’s 5G AirScale
equipment, including AirScale Massive MIMO radios, at its factory in Bac Giang. 
Furthermore, Foxconn Singapore has received approval for two projects in Quang Ninh
province, valued at US$551 million. These projects will focus on manufacturing smart
entertainment products and smart-system equipment, with construction expected to
finish by July 2026 and production starting in May 2027.

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Vietnam and Singapore have a strong and expanding strategic partnership in trade
and investment, defined by substantial achievements and cooperation.

The city-state accounted for 18 percent of total FDI in Vietnam in 2023, amounting
to US$6.9 billion, an increase of 5.4 percent year-on-year.

As of 2024, over 3,000 Singaporean companies are investing in Vietnam, making Singapore
the largest foreign investor in the country. Singaporean firms have invested significantly
in various sectors, including manufacturing, real estate, retail, and financial 
services.

 

## Critical sectors for Singapore’s investments in Vietnam

 

Foxconn Singapore, a prominent player in the electronics manufacturing industry,
is expanding its operations in Vietnam through significant investments, Foxconn 
will begin producing Nokia’s 5G AirScale equipment, including AirScale Massive MIMO
radios at its factory in Bac Giang, Vietnam.

In addition, Foxconn Singapore has won approval for two projects in Vietnam’s Quang
Ninh province valued at US$551 million. The projects will produce smart entertainment
products and smart-system equipment, with investments of US$263.7 million and US
$287.2 million, respectively. Construction is projected to be complete by July 2026,
with production beginning in May 2027.

**Read the original article :** [Singapore’s Growing Investments in Vietnam: Key Sectors ](https://www.aseanbriefing.com/news/singapores-growing-investments-in-vietnam-key-sectors/?rand=151001)

_This article was first published by [ASEAN Briefing](https://www.aseanbriefing.com)
which is produced by [ Dezan Shira & Associates](https://www.dezshira.com/). The
firm assists foreign investors throughout Asia from offices across the world, including
in in China, Hong Kong, Vietnam, Singapore, India, and Russia. Readers may write
to [info@dezshira.com](https://www.thailand-business-news.com/asean/info@dezshira.com)._