The flow of Singaporean investment in Vietnam had reached 23.2 billion USD by July 2011, making it the third largest foreign investor in the country.

As developed markets in Asia have become no more attractive to investors because the prices have become overly high, investors are now eyeing developing markets, of which Vietnam is the top choice.

State utility Vietnam Electricity (EVN) group has awarded a $1.3 billion contract to a consortium of Chinese companies to build a coal-fired power plant in Vietnam's southern region, the official Vietnam News Agency reported on Friday.

Vietnam wanted to finish negotiations and sign the Forest Law Enforcement, Governance and Trade /Voluntary Partnerships Agreement (FLEGT/VPA) with the European Union late next year to facilitate Vietnamese wooden products entering the EU market.

The Ministry of Industry and Trade plans to construct an e-commerce website starting from 2012 based on import and export activities.