Singaporean businesses seek investment opportunity in Dong Nai

The Singaporean delegation visiting Ong Keo IP

(ĐN) – Recently, the 30-member Singaporean delegation led by Chairman of General Affairs Committee of SCCCI Chia Ban Seng has arrived Dong Nai for seeking out investment possibilities for Singaporean businesses. During the visit to Dong Nai, the delegation visited AP Petrochemical (Vietnam) Co Ltd. located in Ong Keo Industrial Park (IP), Nhon Trach district. This is a Joint Venture Company (JVC) with its legal capital of nearly US$ 10 million. Of which Singapore’s AP Petrochemical Pte Ltd (APP) owns an 80% equity stake and Tram Anh Industrial Manufacturing And Trading Co Ltd. holds the remaining 20%. AP Vietnam engages in the wholesale business of petrochemicals, bulk chemical products and fuel oils with annual production capacity of 15,000 – 20,000T. Besides, the company also provides toll blending, bulk cargo handling and terminal services.

Dr Ho Leng Woon, Chairman and Managing Director of AP Oil International Limited said “AP Vietnam put into operation at the end of last year. The plant has so far completed its first phase. In its second phase, AP Vietnam will install additional 30-32 chemical storage tanks as well as provide toll blending, bulk cargo handling services in accordance with international standards”.

Mr. Chia Ban Seng unveiled that his delegation paid a visit to some northern provinces, Ho Chi Minh city, Vietnam-Singapore IP (Binh Duong province). He said that Ong Keo IP was seen as a strategic destination for investment. However, he also pointed out the need for Ong Keo IP to realize better transport infrastructure in order to make this new IP as an attractive destination for foreign investors including Singaporean businesses.

K.L