Singaporean businesses evince investment interest in Binh Dinh province: official

There has been a trend of Singaporean companies visiting and exploring investment opportunities in Binh Dinh recently, Chairman of the south-central Vietnam province Pham Anh Tuan said Tuesday.

Several projects with Singaporean investment have already started, while others are in the exploratory phase, he said.

“We will also host several Singaporean businesses this week, too. Some renewable energy companies from Singapore have begun researching investment opportunities here," Tuan said at a ceremony held to grant the investment registration certificate for a 5,400-ton freeze-dried instant coffee plant to Future Enterprises Pte. Ltd, a subsidiary of Singapore-based Food Empire Holdings Group.

Covering 7.1 hectares at the Becamex VSIP Binh Dinh Industrial Park in Nhon Hoi Economic Zone, Van Canh district, the project has a total investment of over VND2 trillion ($80 million), of which over VND570 billion will be provided by the Singaporean firm and the remaining mobilized from external sources.

Plant construction is expected to begin in March 2025 and be completed in January 2028. The project’s lifespan will last from the date of obtaining the first investment license until August 3, 2070.

Tan Wang Cheow, executive chairman of Food Empire Holdings, said at the ceremony that once operational, the very modern plant will make a significant contribution to the economy and create numerous jobs for locals.

He expressed his hope that the group’s contributions will make Binh Dinh an ideal investment destination for international investors, especially those from Singapore.

Nguyen Bay, director of the Binh Dinh Investment Promotion Center, said that since the beginning of this year, the province has attracted 39 investment projects (not including the above project), with a total registered investment capital of more than VND4.84 trillion ($196.63 million).

Of these, 31 projects are in the industrial sector; three in agriculture, forestry and fisheries; two in port services and logistics; two in construction and infrastructure; and one in trade, services and tourism.

The province has also allowed investors to add more than VND1.92 trillion ($78 million) to existing projects.