Economics

Singapore: the largest FDI investor in Quang Nam

Translated by H.THU Apr 04, 2025 09:29

(QNO) - Singapore remains the largest foreign direct investment (FDI) partner in Quang Nam, with eight investment projects totalling USD 4.11 billion.

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Chu Lai Open Economic Zone (Quang Nam)

According to the report from Quang Nam’s 2024 Investment Promotion Program, the province approved 14 new FDI projects in 2024, with a total investment of USD 149.457 million, an increase of 155.13% compared to 2023.

Additionally, 39 new domestic investment projects were licensed, with registered capital reaching VND 5,703.61 billion, up 189.83% from 2023.

Alongside attracting new investments, Quang Nam has strengthened post-investment reviews to address delayed projects and create opportunities for capable investors.

Currently, the province has 1,373 active projects, including 1,167 local projects (totalling approximately VND 228 trillion) and 206 FDI projects (valued at around USD 6.3 billion).

FDI projects are mainly concentrated in manufacturing and processing industries, the Chu Lai Open Economic Zone, coastal tourism areas, and industrial clusters.

Investors come from 30 countries and territories, with Singapore leading in total investment capital. South Korea ranks highest in project count (59 projects, equivalent to USD 949.4 million), followed by China (45 projects, USD 413.1 million) and Japan (19 projects, over USD 140 million).

Major FDI projects include Hoiana (USD 4 billion), Hyosung Vietnam (USD 400 million), Groz Beckert Vietnam (USD 100 million), Panko Tam Thang (USD 70 million), and Four Seasons Resort The Nam Hai (USD 35 million).

Quang Nam’s investment growth has significantly contributed to its economy, with GRDP per capita exceeding VND 84 million in 2024, up VND 10 million from 2023.

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