Singaporean entrepreneurs highly value cooperation potential with Vietnam
Economic and investment cooperation between Vietnam and Singapore continues to be a bright spot in bilateral relations, especially in potential areas such as sustainable development, renewable energy, green economy, and digital economy, according to the Singaporean business community.
Manufacturing electrical appliances at Panasonic Life Solutions Vietnam Co., Ltd., in the Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen, Binh Duong province (Photo: VNA)
Hanoi (VNA) – Economic and investment cooperationbetween Vietnam and Singapore continues to be a bright spot in bilateralrelations, especially in potential areas such as sustainable development,renewable energy, green economy, and digital economy, according to the Singaporeanbusiness community.
Investment from Singapore into Vietnam has recorded remarkable growth, hitting 73.453billion USD with 3,273 valid projects, surging by 67% in five years. Notably,since 2020, Singapore has always been the largest foreign investor in Vietnam.
Vietnam isseen as one of the top priority markets for Singaporean investors because of itspotential for strong growth in the fields of digitalisation and renewableenergy.
According to Cindy Lim, CEO of Kepple Infrastructure HoldingsPte Ltd, Vietnam and Singapore have strong connections, including data and air connections.
She also underlined the necessity for the two sides to expandenergy connectivity, such as unlocking the potential of electricity export orconnecting the regional power grid, saying that this will help accelerate the renewableenergy development progress in ASEAN.
According to Lim, the Vietnamese Government has announced National Power DevelopmentPlan VIII which guides the development of power plants andpower grids between 2021 and 2030, with a vision until 2050. This is the righttime for investors to participate in the energy transformation in the country.
Limemphasised that Kepple Infrastructure Holdings isready to double its investment in renewable energy development in Vietnam inthe coming time.
Meanwhile, Ronald Tay, CEO of CapitaLandDevelopment in Vietnam, said that Vietnam is an important market for many Singaporean companiesas it is one of the markets of long-term potential.
He expressed his hope that Singaporean businesses willcontinue to receive strong support from the Vietnamese Government and relevantagencies.
What foreign investors are looking for is a level playingfield, so Vietnam needs to maintain an open and transparent policy,thus promoting the long-term development of its economy, he stressed./.
The National Innovation Centre (NIC) under the Vietnamese Ministry of Planning and Investment (MPI) and the National University of Singapore (NUS) have signed a memorandum of understanding (MoU) on cooperation in conducting activities to enhance the innovation capacity in both countries.
The Vietnamese Embassy in Singapore on July 17 held a ceremony to celebrate the 50th anniversary of the establishment of the Vietnam-Singapore diplomatic relations (1973-2023) and 10th anniversary of the bilateral strategic partnership (2013-2023).
The Vietnam-Singapore relationship is now at its prime with deep political trust, close economic and investment cooperation, and strong people-to-people exchange, Vietnamese Ambassador to Singapore Mai Phuoc Dung has said.
Relations between Vietnam and Singapore are special, and the two sides have ironed out differences to seek similarities and work towards the future, some Singapore-based experts have said.
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.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
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.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Manufacturing electrical appliances at Panasonic Life Solutions Vietnam Co., Ltd., in the Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen, Binh Duong province (Photo: VNA) 
