Singaporean seeking more opportunities to invest in Vietnam

Vietnam is an important market for Singapore, and Singaporean investors are seeking more opportunities to invest in Vietnam, especially in prioritized areas such as innovation, development of smart cities, and startups.

According to VNA, outgoing Singaporean Ambassador to Vietnam Catherine Wong made the remarks during a meeting with Prime Minister Nguyen Xuan Phuc in Hanoi on January 13, during which she said her nation has become the leading investor in Vietnam and this is considered an important achievement in the relationship between the two nations.

Vietnam is an important market for Singapore, and Singaporean investors are now looking for more opportunities to invest in the country, especially in priority areas such as innovation, development of smart cities, and startups, she said.

Vietnam and Singapore are not only partners within ASEAN but also in international and regional forums, she said.

The diplomat congratulated Vietnam on its success as ASEAN 2020 Chair despite difficulties posed by the COVID-19 pandemic, saying that Vietnam’s initiatives have contributed to further fostering intra-bloc connection and cooperation.

Ambassador Wong highly valued Vietnam’s role in promoting the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2017 and the Regional Comprehensive Economic Partnership (RCEP) Agreement in 2020.

She also praised Vietnam’s COVID-19 response and economic recovery efforts, expressing her hope that the two countries will work to soon re-open doors to each other as the pandemic is brought under control.

PM Phuc, in turn,highlighted the great success in bilateral trade and investment relations, saying that the Vietnam-Singapore Industrial Park (VSIP) model is a bright spot in the economic ties.

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