Thursday, August 6 2020


City seeks Singapore investment

Update: November, 22/2016 - 09:00
HCM City officials receive Singaporean PM Lee Hsien Loong and his spouse at Tân Sơn Nhất International Airport. — VNA/VNS Photo Thanh Vũ.
Viet Nam News

HCM CITY – Việt Nam always respects and would like to strengthen and expand ties with Singapore, the HCM City People’s Committee chairman Nguyễn Thành Phong told visiting Singaporean Prime Minister Lee Hsien Long.

Speaking at a meeting with the visiting leader and his wife, who are on a four-day visit to Việt Nam, at the Reunification Palace, Phong said, “HCM City always leads in promoting relations with Singapore and tries to reform its investment environment, creating the most favourable conditions for international investors, including Singaporeans, to effectively invest in the city.”

Hailing the investment, trade and economic co-operation between Singapore and HCM City, he called on Singapore to invest in some giant projects in the city to mark the close co-operation between the two sides and the island-nation’s status as one of the biggest foreign investors in the city.

He called on that country to quickly develop the hygienic food industrial park and help with the master plan for the city’s metro network.

He also solicited Singapore’s support to improve the city’s human resource quality and urged it to share its experience in urban development and management and building a smart city.

Lee said Việt Nam – Singapore relations were developing steadily like the Việt Nam – Singapore Industrial Park, which has completed 21 years of operation.

On the occasion of the PM’s visit to Việt Nam in September 2013 to celebrate the 40th anniversary of bilateral diplomatic ties, the two sides had issued a Joint Statement on the Establishment of Strategic Partnership, which Lee said, created a firm foundation for their ties to develop in all aspects.

“With our good relations, Singapore and Việt Nam will strengthen bilateral and multilateral relations in ASEAN.”

He mentioned the fact that there are 900 Singaporean projects in HCM City as a testament to the latter’s huge potential as well as Singaporeans’ interest in it.

Singapore would like to undertake collaborative activities with HCM City, like staff exchanges, sharing of management experience, urban development and construction, he said.

During their visit to HCM City, Lee and his wife, Ho Ching, will visit some historical places, meet with the Singaporean Business Group in HCM City and take part in the opening ceremony of the Mapletree Business Centre.

The two countries established diplomatic ties in 1973, and bilateral ties have been thriving, especially since Việt Nam became a member of ASEAN in 1995. 

Singapore is Việt Nam’s third largest foreign investor with a total investment of over US$38 billion in 1,600 projects in the processing, technology, production, real estate, construction, transport and logistics sectors. 

It is also Việt Nam’s 12th largest trade partner after bilateral trade doubled in the last decade to nearly US$16 billion last year. -- VNS

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