Sembcorp Development CEO talks about investment environment in Vietnam
Vietnam is making a name for itself as a dynamic emerging country in Asia with political stability and a growing economy, Kelvin Teo, CEO of Sembcorp Development and Co-chairman of Vietnam-Singapore Industrial Park Group said in a recent interview with Vietnam News Agency (VNA).
Kelvin Teo, CEO of Sembcorp Development and Co-chairman of Vietnam-Singapore Industrial Park Group. (Photo: VNA)
Binh Duong (VNA) – Vietnam ismaking a name for itself as a dynamic emerging country in Asia with politicalstability and a growing economy, Kelvin Teo, CEO of Sembcorp Development andCo-chairman of Vietnam-Singapore Industrial Park Group said in a recentinterview with Vietnam News Agency (VNA).
He said Vietnam has done especially well insigning several important bilateral trade agreements (FTAs) that will increaseits global integration and extend this advantage to foreign investors.
Vietnam’s middle class is also growing, makingthe domestic market attractive for foreign goods, he added.
Sembcorp is jointly operating the VSIP brand ofintegrated townships and industrial parks across the country, with nine VSIPprojects across the southern, central and northern economic zones of Vietnam,including two VSIP expansions in Binh Duong and Bac Ninh provinces, Kelvin Teosaid.
The increase in FDI from the manufacturingsector has led to higher occupancy levels at the VSIPs; hence, the company hasexpanded in Binh Duong and Bac Ninh provinces, he told VNA, adding his companyis in the process of reviewing master plans for approval before launching.
“We are exploring a new industrial park designwhich is more sustainable in the form of energy efficiency and smartness so asto help our industrial tenants operate more competitively,” he said.
To do this, Sembcorp recently established arepresentative office in Hanoi to bring more urban development solutions toVietnam, according to Kelvin Teo.
He said Sembcorp also has strength in energy,so there are a lot of opportunities to scale up in Vietnam and support thecountry’s industrialisation.
The Singaporean business executive added thatSembcorp has admiration for the way the Vietnamese Government, both at thecentral and local levels, work with foreign investors to understand their needsand support their plans.
There have been completions to severalprovincial airports, major highways and bridges in the country. Suchinfrastructure completions are critical as they enable businesses andcommunities to capitalise on connectivity between cities and provinces, hesaid./.
Vietnam has emerged as a destination for large tech firms as the trade dispute between the US and China continues to intensify with no end in sight. However, whether and how much Vietnam can take advantage of the shifting FDI flow out of China remains to be seen.
Vietnam recorded 22.63 billion USD of foreign direct investment (FDI) registered in the first eight months of 2019, equivalent to 92.9 percent of the figure in the same period last year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
Vietnam’s economy maintained growth across sectors, especially tourism, in the first eight months of 2019 despite global economic challenges and escalating trade tensions, Prime Minister Nguyen Xuan Phuc said at a cabinet meeting in Hanoi on September 4.
Disbursement of foreign direct investment (FDI) saw a positive yearly increase of 7 percent to nearly 12 billion USD in the first eight months of this year, despite a fall in new FDI registered in Vietnam.
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The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Kelvin Teo, CEO of Sembcorp Development and Co-chairman of Vietnam-Singapore Industrial Park Group. (Photo: VNA) 
