Singapore will continue to expand its cooperation and investment in Ninh Binh, focusing on high-potential sectors such as tourism, industrial manufacturing, and the maritime economy.
Singaporean Ambassador to Vietnam,H.E. Rajpal Singh, said during a meeting with the Chairman of the Ninh Binh Provincial People’s Committee, Mr. Tran Huy Tuan, on February 5.
The ambassador noted that the Hai Long Industrial Park (VSIP Nam Dinh) Phase 1 is the 22nd VSIP project to be implemented in Vietnam, reflecting Singapore’s long-term commitment to partnering with Vietnamese localities for socio-economic development. In the coming time, Singapore will continue to encourage its businesses to explore opportunities in Ninh Binh—a province recognized for its significant development potential and favorable investment climate.
Mr. Tuan, for his part, said the localitty expects to increase delegation exchanges and learn from Singapore’s expertise in urban management, high-tech agriculture, and tourism.
The Chairman of the provincial People's Committee highlighted that Ninh Binh has maintained stable growth, with its economic structure shifting positively toward industry, construction, and services. Since 2022, the province has been budget-independent. It is gradually establishing itself as a major national automotive manufacturing hub while developing ecosystems for supporting industries, electronics, and manufacturing.
In 2025, Ninh Binh achieved an economic growth rate of 10.65%, ranking 3rd among 34 provinces and cities surveyed and exceeding the target set by the Prime Minister. The investment and business sector recorded positive signals, with 293 newly licensed projects, 508 adjusted projects, and 4,914 newly established enterprises with a total registered capital of VND115.7 trillion (over $4.45 billion).
Highly valuing the role of foreign investors, Mr. Tuan noted that Ninh Binh has attracted numerous projects from Singapore, Japan, South Korea, and others. Currently, the province hosts eight Singaporean-invested projects with a total registered capital of over $450 million, primarily in garments, electronic components, and industrial park infrastructure. Notably, the upcoming VSIP Ninh Binh project is expected to create a breakthrough in attracting high-quality FDI, following the success of the VSIP model in other localities.
Alongside industrial development, tourism remains a vital pillar in Ninh Binh’s long-term development strategy, he said.
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