Singapore businesses showed their interest in Vietnam's investment environment during an investment promotion forum in the city-state on April 28.
Representatives from 120 firms and foreign enterprises in the host country had a direct dialogue with Vietnamese Minister of Planning and Investment Bui Quang Vinh on Vietnam's foreign investment attraction policies and opportunities.
Tan Soon Kim, Assistant Chief CEO of IE Singapore, said Vietnam continues to attract Singapore companies, particularly to potential partnerships in infrastructure, manufacturing, consumption, health, education and training, telecommunication and logistics.
"Vietnam is a land of opportunities. The economy is on the road towards recovery and Vietnam's strong economic fundamentals make her a country that companies cannot afford to look," he said.
He stated that IE Singapore will strongly encourage businesses to look seriously in Vietnam because it has very strong economic fundamentals, positive demographics, a lot of natural resources and a hard-working population.
"We would encourage our companies to work in Vietnam and explore not only Hanoi and Ho Chi Minh City but other regions as well," he added.
According to Minister Vinh, Singapore is now Vietnam's third largest foreign direct investment (FDI) partner with 1,258 valid projects valued at over 30 billion USD.
Singapore's projects have greatly contributed to Vietnam's socio-economic development, especially its economic restructuring, governance competence and labour training, he said.
Affirming that Vietnam is drastically improving its investment environment to facilitate businesses' operations, the minister expressed his hope that Singaporean companies will increase investment in Vietnam to make Singapore the largest foreign investor in the country.
At the forum, representatives from Kien Giang, Nghe An and Thanh Hoa provinces called on Singapore businesses to invest in their localities.
VNA
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