Vietnamese Ambassador to Singapore Tao Thi Thanh Huong speaks at the forum on November 25 (Photo: VNA) Singapore (VNA) – A forum was held at theSingapore Exchange (SGX) on November 25 to help Vietnamese businesses connectwith the Singaporean market and seek potential partners here.
Addressing representatives of over 150 companiesfrom Vietnam, Europe, the US, the Republic of Korea and Japan, VietnameseAmbassador to Singapore Tao Thi Thanh Huong noted the Vietnamese Government hasbeen issuing policies to attract capital to new economic sectors while makingefforts to equitise State-owned enterprises to attract more foreign investors.
The country’s young startup ecosystem nowconsists of some 3,000 companies, one-third of which have engaged in thetechnology sector, she said, adding that the Government is also working hard tocreate the best possible conditions for startups to grow and stretch theirreach to the world.
Huong said the forum provided a chance forVietnamese firms to learn more information, connect with partners to expandoperations to the region and the world, and find out resources to boostproduction. It was also an occasion for them to seek Singaporean andinternational enterprises interested in investing in Vietnam through mergersand acquisitions (M&As).
In 2018, the total value of M&A deals inVietnam reached 9.9 billion USD. In the first 10 months of 2019, Singaporeancompanies made 2 billion USD worth of such contracts with Vietnamese firms,according to the diplomat.
Before the forum, SGX invited Ambassador Huongto beat the gong to open the trading session that marked the exchange’s 20thanniversary. She said the listing on the region’s leading stock markets likeSingapore will help companies swiftly carry out M&As thanks to the intensiveconnectivity among global investors, banks and businesses in those markets.
SGX CEO Loh Boon Chye said Singapore and Vietnamhave strong relations in various fields at present. Vietnam, one of thecountries with vigorous economic growth in Southeast Asia, is also an importantmarket of SGX.
Over the last two years, Vietnamese investorshave realised considerable benefits from Singapore’s capital market, he said,noting that more than 40 enterprises listed on SGX have had business links withVietnamese partners.
He expressed his hope that many Vietnamese firmswill be listed on this exchange in the time ahead./.
VNA
