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Singaporean seeking more opportunities to invest in Vietnam

January 14, 2021 | 07:21

Vietnam is an important market for Singapore, and Singaporean investors are seeking more opportunities to invest in Vietnam, especially in prioritized areas such as innovation, development of smart cities, and startups.

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Singaporean seeking more opportunities to invest in vietnam
Prime Minister Nguyen Xuan Phuc (R) hosts outgoing Singaporean Ambassador to Vietnam Catherine Wong (Photo: VGP

According to VNA, outgoing Singaporean Ambassador to Vietnam Catherine Wong made the remarks during a meeting with Prime Minister Nguyen Xuan Phuc in Hanoi on January 13, during which she said her nation has become the leading investor in Vietnam and this is considered an important achievement in the relationship between the two nations.

Vietnam is an important market for Singapore, and Singaporean investors are now looking for more opportunities to invest in the country, especially in priority areas such as innovation, development of smart cities, and startups, she said.

Vietnam and Singapore are not only partners within ASEAN but also in international and regional forums, she said.

The diplomat congratulated Vietnam on its success as ASEAN 2020 Chair despite difficulties posed by the COVID-19 pandemic, saying that Vietnam's initiatives have contributed to further fostering intra-bloc connection and cooperation.

Ambassador Wong highly valued Vietnam’s role in promoting the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2017 and the Regional Comprehensive Economic Partnership (RCEP) Agreement in 2020.

She also praised Vietnam’s COVID-19 response and economic recovery efforts, expressing her hope that the two countries will work to soon re-open doors to each other as the pandemic is brought under control.

Singaporean seeking more opportunities to invest in Vietnam
Singaporean Ambassador Catherine Wong Siow Ping (left) receives a donation of Reverse Transcription Polymerase Chain Reaction test kits from Vietnamese Deputy Foreign Minister Nguyen Quoc Dung in May, 2020. Photo courtesy of the Singaporean Embassy

PM Phuc, in turn,highlighted the great success in bilateral trade and investment relations, saying that the Vietnam-Singapore Industrial Park (VSIP) model is a bright spot in the economic ties.

the Vietnamese Government leader noted that although the relationship has recorded fruitful developments, it is not commensurate with the potential.

Vietnam and Singapore need more cooperation models to contribute to promoting economic cooperation and GDP growth, and creating more jobs for labourers.

PM Phuc expressed his hope that more and more Singaporean technology corporations will explore and invest in the Vietnamese market, thus maintaining Singapore's leading investment position in Vietnam.

He wished that more and more Vietnamese students will pursue their study in Singapore, which boasts good education, hence improving Vietnam's human resources quality.

He took the occasion to congratulate Singapore on its achievements in COVID-19 control, and thanked the country for its recent assistance for flood victims in central Vietnam.

PM Phuc hoped that Wong would continue to contribute to fostering the Vietnam - Singapore strategic partnership no matter what position she holds in the future./.

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