Singaporean businesses are interested in investing in Vietnam, saidRaymond Lui, Director of the International Enterprise Singapore (IESingapore) Centre in Hanoi.
He said Vietnam’s orientation to the market economy, policies andinvestment climate inspired confidence in foreign investors, includingSingaporeans.
Along with an increase in trade and investmentbetween the two countries, Singapore understands the potential businessbenefits for Singaporean firms in Vietnam and is seeking opportunitiesfor cooperation, Lui told Vietnam News Agency ahead of theVietnam-Singapore business forum in Hanoi from Nov. 30-Dec. 2.
Henoted that Singapore is one of Vietnam’s major trading partners andbilateral trade has quadrupled since 2000, to reach 10.1 billion USD in2010.
Lui highlighted greater potential for bilateralcooperation, saying Singaporean and Vietnamese companies can cooperatein such fields as urban solutions and infrastructure, trade andservices.
According to Lui, population is forecast to increasesignificantly in Vietnam’s major cities like Hanoi, Ho Chi Minh City andHai Phong, leading to increased demand on water and wastewatermanagement solutions.
With their development experience, Singapore companies could share and cooperate with Vietnam in these areas, he said.
Inaddition, Vietnam’s rapid industrialisation continues to contribute toeconomic connectivity, so the linkage through transport infrastructurewill become important and Singapore firms will provide services frommaking plans for the country’s transport system for construction andmanagement of the country’s transport projects, Lui said.
Vietnam’s trade and agricultural product exports are a major factor inthe country's economic development, he said. Vietnamese exporters cantake advantage of Singapore's position as a commercial and financial hubin Asia.
Vietnam and Singapore should work together to helpfarmers and exporters to protect their profits and manage risks relatingto price fluctuations, he suggested.
He said he hopes trade and investment between Vietnam and Singapore will be increased through the upcoming business forum.
TheVietnamese Government has implemented steps to promote the privatesector to become involved in the economy, Lui said, adding that thisopens the door for Singaporean companies to consider cooperativeopportunities with Vietnamese partners./.
He said Vietnam’s orientation to the market economy, policies andinvestment climate inspired confidence in foreign investors, includingSingaporeans.
Along with an increase in trade and investmentbetween the two countries, Singapore understands the potential businessbenefits for Singaporean firms in Vietnam and is seeking opportunitiesfor cooperation, Lui told Vietnam News Agency ahead of theVietnam-Singapore business forum in Hanoi from Nov. 30-Dec. 2.
Henoted that Singapore is one of Vietnam’s major trading partners andbilateral trade has quadrupled since 2000, to reach 10.1 billion USD in2010.
Lui highlighted greater potential for bilateralcooperation, saying Singaporean and Vietnamese companies can cooperatein such fields as urban solutions and infrastructure, trade andservices.
According to Lui, population is forecast to increasesignificantly in Vietnam’s major cities like Hanoi, Ho Chi Minh City andHai Phong, leading to increased demand on water and wastewatermanagement solutions.
With their development experience, Singapore companies could share and cooperate with Vietnam in these areas, he said.
Inaddition, Vietnam’s rapid industrialisation continues to contribute toeconomic connectivity, so the linkage through transport infrastructurewill become important and Singapore firms will provide services frommaking plans for the country’s transport system for construction andmanagement of the country’s transport projects, Lui said.
Vietnam’s trade and agricultural product exports are a major factor inthe country's economic development, he said. Vietnamese exporters cantake advantage of Singapore's position as a commercial and financial hubin Asia.
Vietnam and Singapore should work together to helpfarmers and exporters to protect their profits and manage risks relatingto price fluctuations, he suggested.
He said he hopes trade and investment between Vietnam and Singapore will be increased through the upcoming business forum.
TheVietnamese Government has implemented steps to promote the privatesector to become involved in the economy, Lui said, adding that thisopens the door for Singaporean companies to consider cooperativeopportunities with Vietnamese partners./.
