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Việt Nam, Singapore beef up investment links in industry

Update: April, 17/2021 - 09:03

 

A part of the VSIP Hải Phòng Industrial Park. — VNA/VNS Photo Văn Lanh

SINGAPORE  A forum to promote industrial investment in Việt Nam was held online on Thursday as part of the Việt Nam International Trade Fair (Vietnam Expo 2021) in Singapore.

Addressing the forum, the Director of the Trade Promotion Agency under the Ministry of Industry and Trade Đỗ Ba Phú said he values Singaporean investors and predicted that investment from Singapore to Việt Nam will rise sharply in the future.

Singapore was the largest investor in Việt Nam last year, with nearly US$9 billion, accounting for 31.5 per cent of the country’s total foreign investment.

The city-state possesses advantages in key industries where Việt Nam is seeking investment, Phú said.

Trần Thu Quỳnh, Vietnamese Trade Counsellor in Singapore, briefed participants on production trends in Việt Nam and the country’s priorities in attracting investment in industries in 2021-30 and told them of free trade agreements Việt Nam has signed with foreign partners.

Douglas Foo, President of the Singapore Manufacturing Federation (SMF), who is also President of the Việt Nam- Singapore Business Council, highlighted the significance of the forum, saying Singaporean enterprises are interested in the Vietnamese market.

In the context of COVID-19, with flights yet to restart between the two countries, opportunities for links like this forum will help Singaporean firms learn more about new investment opportunities in Việt Nam, he said. — VNS

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