PM encourages Singaporean firms to invest in Vietnam
The Vietnamese Government always encourages and creates favourable conditions for Singaporean businesses to invest in Vietnam, particularly in building a hi-tech zone in the central city of Da Nang.
PM Nguyen Xuan Phuc receives Singaporean investors (Photo: chinhphu.vn)
Hanoi (VNA) - The Vietnamese Government always encourages and creates favourableconditions for Singaporean businesses to invest in Vietnam, particularly inbuilding a hi-tech zone in the central city of Da Nang, said Prime MinisterNguyen Xuan Phuc.
During hisreception for a delegation of Singaporean investors led by Douglas Foo,President of the Singaporean Manufacturing Federation (SMF) in Hanoi on April6, PM Phuc highlighted the Vietnam-Singapore strategic partnership, saying thatthe bilateral relations are growing fruitfully with a strong surge inSingapore’s foreign direct investment (FDI) flow into Vietnam.
He highly evaluatedlate Singaporean PM Lee Kuan Yew’s initiative on connecting the two economies, andvoiced his hope that Vietnamese and Singaporean enterprises will gain greaterachievements in cooperation.
For his part, DouglasFoo expressed his impression at the development of the central city of Da Nang,saying that the city has potential and capability to become a second Singaporein the future.
He suggested DaNang build a “garden city” as a highlight to lure tourists, adding that thecity can become the world’s exhibition and conference centre. He also sharedhis country’s experience in green construction and design.
Singaporeaninvestors expressed their wishes to pour investments in Vietnam and Da Nang inelectronics and semiconductor manufacturing, in which Vietnam has huge developmentpotential and Singapore has strength.
PM Phuchighlighted the similarity in terms of area between Singapore and Da Nang city,noting that Da Nang is bestowed with even more favourable natural conditions.
The PM welcomed theinvestment plans of Singaporean firms, saying that he has assigned themunicipal People’s Committee of Da Nang to review Singapore’s proposals andreport to the Government.-VNA
Singapore has more than 1,600 valid investment projects with a total registered capital of over 37.9 billion USD in Vietnam at present,making Singapore the third largest investor in the country.
Minister of Planning and Investment Nguyen Chi Dung and Singapore’s Minister of Industry and Trade Lim Hng Kiang co-chaired the 12th Vietnam-Singapore Economic Connectivity Ministerial Meeting.
Up to 110 small- and medium-sized enterprises (SMEs) of Vietnam attended a conference in Singapore on March 10 to seek trade and investment partnership.
Prime Minister Nguyen Xuan Phuc and visiting Singaporean Prime Minister Lee Hsien Loong have agreed to foster strategic trust, promote cooperation in integration and further deepen the strategic partnership between the two countries.
National Assembly Chairwoman Nguyen Thi Kim Ngan suggested Vietnam and Singapore maintain meetings and visits at all channels and levels, while joining hands to celebrate the 45th anniversary of bilateral diplomatic ties in 2018.
Many Singaporean firms are interested in investing in the food industry, agriculture, and dining services in Vietnam as they forecast that these sectors will thrive in the near future.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
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The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
PM Nguyen Xuan Phuc receives Singaporean investors (Photo: chinhphu.vn) 
