Singapore tops ASEAN FDI inflow into Vietnam in 2014: FIA Tuoi Tre's file photo shows Singaporean Prime Minister Lee Hsien Loong shakes hand with his Vietnamese counterpart Nguyen Tan Dung during the VSIP Quang Ngai groundbreaking ceremony in Quang Ngai September 13, 2013. Tuoi Tre The inflow of foreign direct investment (FDI) from Singaporean investors to Vietnam took the lead among those from other member countries of the Association of Southeast Asian Nations (ASEAN) in 2014 with 1,353 existing projects worth $32.7 billion, according to the Foreign Investment Agency (FIA). The FDI from Singapore, which ranked third among 101 foreign investors in Vietnam during last year, made up 60 percent of the total FDI registered in the country, said the agency under the Ministry of Planning and Investment. Singaporean-owned projects have proved effective, greatly contributing to Vietnam’s job generation, export and economic growth during the past years, said FIA. Specifically, the Vietnam-Singapore (VSIP) Industrial Zone, including many facilities covering about 6,000 hectares across the country, is a symbol of the friendship and cooperation between the two countries, according to FIA. Malaysia ranked second with 484 projects with a total investment of $10 billion, making up 19 percent of total projects and 22 percent of the total registered capital. It is followed by Thailand with 371 projects with total investment of $6.7 billion, accounting for 14 percent of total projects and 12 percent of the total registered capital. Thailand is followed by Brunei, Indonesia, the Philippines, Laos and Cambodia. By the end of 2014, investors from ASEAN had 2,507 valid projects with total registered capital of US$53 billion, accounting for about 14 percent of total operational FDI projects and 20 percent of total foreign investment capital registered in Vietnam. Embracing ASEAN Economic Community 2015 According to statistics, ASEAN investors had invested in all 18 business sectors in Vietnam by the end of last year. In particular, the field of processing and manufacturing industries topped the list with 974 projects worth $21.7 billion in registered capital, accounting for 40 percent of total investment. The sector drawing the second-most attention from ASEAN investors is real estate, with 93 projects worth a total $16.5 billion in registered capital, accounting for 30 percent of total investment. It is followed by the construction sector, with 169 projects with registered capital of $3.1 billion, representing 5.9 percent of total investments. Firms managed by ASEAN investors in Vietnam have two primary forms - a 100-percent foreign-owned firm and a joint venture. ASEAN investors have invested in 55 out of 63 provinces and cities in Vietnam, with investment focusing on large cities with better infrastructure development. The most are located in Ho Chi Minh City, with 1,076 projects worth $14.9 billion in registered capital, representing 27 percent of total investment. HCMC is followed by the capital city of Hanoi (400 projects, $8.5 billion, and 15 percent of total investment ) and the southern province of Ba Ria - Vung Tau (67 projects, $6.1 billion, and 11 percent of total investment). ASEAN is currently transforming itself into a new stage of development, aiming to form an ASEAN Economic Community (AEC) in 2015 with three pillars: political-security, economic and socio-cultural. After the AEC is established with the realization of the ASEAN Comprehensive Investment Agreement (ACIA), the ASEAN Trade in Goods Agreement (ATIGA) and ASEAN Framework Agreement on Services (AFAS) will help increase the attractiveness of the region to FDI, said FIA. TUOI TRE NEWS