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Vietnam, Singapore enjoy surge in bilateral trade in h1

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Singapore-flagHANOI, Aug 22 – Two-way trade between Vietnam and Singapore rose 23.9 percent to nearly 10.1 billion SGD (US$8.1 billion) in the first half of this year, Vietnam News Agency (VNA) reports citing the Singapore Department of Statistics.

Vietnam’s export to Singapore reached over 1.9 billion SGD (US$1.57 billion), up 34.2 percent year-on-year with mobile phones, spare parts, oil and gas, coffee and tea as major exports.

The country spent over 8.1 billion SGD (US$6.5 billion) purchasing mobile phones, accessories, plastic, oil and gas among others from the market.During the period, Singaporean firms poured about US$732 million in both newly-registered and additional investment into Vietnam.

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As of June, Singapore had 1,284 investment projects worth over US$30.54 billion in becoming the third largest investor among 101 nations and territories in Vietnam.

 -BERNAMA

 

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