Singapore has taken the lead as Vietnam’s most prominent investment partner as business expansion opportunities within the country continue to be impacted by the pandemic, new research has found.
JLL’s Vietnam Property Market Overview Q3 indicated foreign investments in the country’s property market had totalled USD 21.2 billion at the end of the third quarter, down 18.9 per cent y-o-y.
According to the report, Singapore’s contribution of USD 6.77 billion accounted for 32 per cent of the total investment, coming in ahead of South Korea and China.
Source: General Statistics Office
Of the total, USD 10.4 billion came from newly licensed projects, while those with additionally registered capital and those with capital contribution, share purchase totalled USD 5.11 billion and 5.7 billion, respectively.
Of the 18 sectors invested in 9M20, manufacturing industry took the lead of nearly 9.9 billion, accounting for 46.6 per cent of the total registered investment.
Electricity production ranked in second place with USD 4.3 billion, equivalent to 20.6 per cent of the total.
This was followed by real estate investment and retail sales with USD 3.2 billion and USD 1.3 billion respectively.
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