Singapore

Singapore’s FDI into Vietnam in 2022 amounted to nearly US$6.46 billion, making it the largest foreign investor for that year.

Vietnam fails to capitalize on the opportunities created against Singapore.

Vietnamese businesses have equipped some levels of understanding and adoption through the regional platform that displays multiple sectors and markets.

The Regional Comprehensive Economic Partnership (RCEP) was one of Vietnam’s major achievements when the country was serving as the Chair of ASEAN in 2020.

The result remained positive at a time when the Covid-19 crisis led to a 35% contraction in global FDI flows to US$1 trillion, the lowest level since 2005.

UK-based lexology.com said Vietnam's economy is in a favorable position compared to other countries in attracting FDI during the Covid-19 pandemic.

Hanoi is home to 434 projects financed by Singaporean investors with a combined registered capital of US$7.43 billion, the amount which is second only to Japan's.

The move will help ensure the effective utilization of the Agreement on Singapore-Vietnam Economic Connectivity.

Relaxing travel restrictions is crucial for the relationship of Vietnam and its biggest investor.