Update: 21:01 | 01/04/2022
(BGO) - With 16 FDI projects with a total registered capital of about 903 million USD, Singapore currently ranks 5th in terms of total registered capital and sixth in the number of projects among 25 countries and territories investing in the province. Identifying this as a potential and effective partner, in the coming time, Bac Giang province will continue to implement many solutions to welcome the investment wave from this country.
In 2021, Singapore is the leading country in terms of foreign investment capital in Bac Giang. Singaporean enterprises coming to Bac Giang province mainly poured cash into the fields of processing and manufacturing, electronic components production, animal feed processing, electrical equipment production, etc.
The Hoa Phu Industrial Park in Hiep Hoa - home to many projects of investors from Singapore.
In general, Singaporean enterprises see stable operations in Bac Giang and pay attention to investing in renovating technologies, minimizing impacts on the environment and increasing sustainable production value in line with the province’s development and investment attraction criteria.
Especially, recently, during President Nguyen Xuan Phuc's state visit to Singapore, Chairman of the People's Committee of Bac Giang province Le Anh Duong attended the Vietnam - Singapore Business Dialogue. At the event, under the witness of President Nguyen Xuan Phuc, Duong presented memoranda of understanding and investment certificates to Singaporean investors with a total investment of nearly 3.6 billion USD.
Of which, CapitalLand Group will invest in industrial, logistic and urban zones with a total capital of about 1 billion USD. The investment licences were also given to two companies of Mable Tree Group (Singapore), namely Bac Giang Logistic I Development Company (47.1 million USD) and Bac Giang Logistic II Development Company (50.4 million USD).
Recently, Bac Giang province has increased communications and promotion activities about its lychee to the potential Singaporean market, while boosting connections for direct export from Vietnam to Singapore.
In 2021, thanks to the connection efforts of the Trade Promotion Agency under the Ministry of Industry and Trade and the Trade Office of the Vietnamese Embassy in Singapore, the province approached Singapore's fruit importers to find ways to preserve and ship lychees from Vietnam to Singapore quickly while keeping the taste and quality.
Bac Giang's lychee was conveniently exported to Singapore, with an output of about 1,000 tonnes. In addition, grapefruit has also begun to mark its presence in the Singaporean market.
Under the witness of President Nguyen Xuan Phuc, Chairman of the People's Committee of Bac Giang province Le Anh Duong presents a memorandum of understanding on investment cooperation to a representative of CapitaLand Group.
One of the reasons why Singaporean investors come to Bac Giang is that the province pays attention to sustainable development and shares community benefits, not looking at the short term but having an in-depth investment in sustainable development and building enterprise value. Talking to investors at the Vietnam - Singapore Business Dialogue (held in Singapore), Chairman of the provincial People's Committee Le Anh Duong expressed his hope that 2022 will be a year with many positive changes in investment and also a year shaping the development of Bac Giang province with its high determination to develop the economy and create the best investment environment.
With the orientation of selecting projects using less land and less labor, with high investment capital, high budget contribution and high technology content, Bac Giang province continues to identify Singapore as a strategic investment partner in fields of its strength such as education and training, hi-tech agriculture, hi-tech industry, supporting industry, environment and energy saving, automobile and auto parts manufacturing…
In the coming time, Bac Giang commits to creating more favorable conditions for Singapore enterprises to do business effectively and develop sustainably in the locality, contributing to further tightening the good relationship between Bac Giang and Singapore.