Vietnam pledges support for Sing
Vietnam pledges support for Singaporean investments: PM
The Vietnamese Government is willing to listen to opinions from Singaporean
businesses and wishes they would do long-term business in the country, Prime
Minister Nguyen Xuan Phuc has said.
PM Nguyen Xuan Phuc (standing) at the reception for a delegation of 36
Singaporean
businesses on July 15 (Photo: VNA)
Receiving a delegation of 36 Singaporean businesses in Hanoi on July 15, PM Phuc
spoke highly of Singaporean firms’ business in Vietnam during January-June
despite the global economy’s turbulences.
The Vietnamese Government has made efforts to keep political and macro-economic
stability, create transparent legal institutions in accordance with
international commitments and laws, he said.
He laid stress on the country’s push for regional and international integration
with the formation of various economic and trade cooperation frameworks like the
Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
and the EU-Vietnam Free Trade Agreement (EVFTA).
Vietnam has consistently pursued an economic integration policy with the focus
placed on international economic integration, which means Singaporean
enterprises will have opportunities to reach a large number of markets that
Vietnam has set up partnership with, he highlighted.
He took the occasion to thank the Singapore Business Federation (SBF) and the
Enterprise Singapore (ESG) for organising the Vietnam-Singapore Business Forum
in April, helping develop bilateral economic cooperation into a more practical
manner.
He said he witnessed the signing of cooperative documents worth some 10 billion
USD at the forum.
SBF Chairman Teo Siong Seng, for his part, expressed his delight to lead the
Singaporean firms to visit Vietnam and seek investment opportunities. He said
the Singaporean firms will continue their contributions to the robust economic
growth in Vietnam while tightening the bilateral collaboration.
Meanwhile, a representative from ESG thanked the Vietnamese Government and
competent agencies and authorities for supporting Singaporean businesses in the
past time, hoping to promote cooperation with Vietnam in the fields of smart
urban area development, the Fourth Industrial Revolution, and startup and
innovation.
Welcoming the recommendations, PM Phuc said that Singaporean firms have many
investment opportunities in Vietnam thanks to the sound strategic partnership
between the two nations, as well as good mechanisms to connect the two economies
in the past 14 years with the Vietnam-Singapore industrial park described as a
standout cooperation model.
He expressed his hope that the Singaporean firms will expand investment in the
fields of their strengths like infrastructure development, logistics, finance &
banking, IT, electronics, education, healthcare, tourism, maritime industry, and
equitization of state-owned companies, among others.
Airport investment is attractive, especially as the Vietnamese aviation sector
is enjoying strong growth, he suggested.
PM Phuc expected both sides work together to branch out smart urban area models,
while hailing the Singaporean sides’ engagement in developing Da Nang city,
which has the same size as Singapore.
Source: VNA