President Nguyễn Xuân Phúc (third from right) and Executive Chairman of YCH Group Robert Yap (third from left) at the meeting in Singapore on February 25. VNA Photo

SINGAPORE– President Nguyễn Xuân Phúc received some leading Singaporean businesses in innovation on February 25 as part of his State visit to Singapore.

Meeting with Grab President Ming Maa, President Phúc welcomed the group’s plan to assist micro-, small- and medium-sized enterprises in digital transformation in Việt Nam, asking it to strongly take part in Việt Nam’s programme on supporting digital transformation in businesses, cooperatives, and business households during 2021 - 2025.

Relevant agencies of Việt Nam would create the best possible conditions for Grab in this field, he affirmed.

Appreciating the Vietnamese Government and relevant agencies’ support and favourable conditions for his firm, Ming said Grab had been effectively implementing some meaningful technological platforms in the country such as those for shopping essential goods and food over the last two years. It had also been promoting digital transformation in agriculture and stepping up comprehensive finance through fintech solutions.

Grab invested US$200 million in Việt Nam as of 2019. In late 2019, it pledged to pour another $500 million into the country within the next five years.

Talking to Executive Chairman of YCH Group Robert Yap, President Phúc spoke highly of the firm’s operations in the country’s logistics industry, which is also a priority sector of Việt Nam.

He applauded YCH Group’s partnership with T&T Group of Việt Nam to develop a large logistics centre in Vinh Phúc province, stating that the country will create optimal conditions for this business to make long-term and sustainable investment.

Receiving a leader of FWD, a leading insurance and investment group in Asia-Pacific, the Vietnamese President highly valued the company’s business outcomes in the country.

"Việt Nam prioritises the projects on high technology, innovation, research and development, and digital economy, as well as those contributing to its sustainable socio-economic development," he said, asking FWD with a large international clientele to help attract foreign investors to Việt Nam in the coming time.

"Việt Nam always supports and commits to stand side by side with FDI companies and provide favourable conditions for their long-term and sustainable operations in the country," he said. VNA/VNS