The Vietnamese Government seeks to create favourable conditions for Singaporean businesses to invest in Việt Nam, particularly in building a hi-tech zone in the central city of Đà Nẵng, said Prime Minister Nguyễn Xuân Phúc yesterday.

Meeting Singaporean investors led by Singapore Manufacturing Federation president Douglas Foo in Hà Nội, Phúc highlighted the Việt Nam-Singapore strategic partnership, saying that the bilateral relations are growing fruitfully, boosted by a strong surge in Singapore’s foreign direct investment flow into Việt Nam. 

Prime Minister Nguyễn Xuân Phúc meets with Singaporean investors led by Singapore Manufacturing Federation president Douglas Foo in Hà Nội yesterday. — VNA/VNS Photo Thống Nhất

Singapore Manufacturing Federation president Douglas Foo said he was impressed at the development of the central city of Đà Nẵng, saying that the city has the potential to become a second Singapore in the future. 

He suggested Đà Nẵng build a “garden city” to lure tourists, adding that the city can become the world’s exhibition and conference centre. He also shared his country’s experience in green construction and design. 

Singaporean investors expressed their wish to pour investments into Việt Nam and Đà Nẵng in electronics and semiconductor manufacturing, in which Việt Nam has huge development potential and Singapore has strength. 

Phúc welcomed the investment plans of Singaporean firms, saying that he has assigned the municipal People’s Committee of Đà Nẵng to review Singapore’s proposals and report to the Government.