Singapore led foreign investors in Ho Chi Minh City in the firstmonths of this year, according to a municipal official at a recentVietnam-Singapore business forum.
In the three months of 2014,the country’s economic hub granted licences to 71 foreign-investedbusinesses with total investment capital of nearly 750 million USD,4.5-fold increase against the same time last year.
The totalincluded nine Singaporean enterprises capitalised at over 200 millionUSD, comprising 31 percent of the total foreign investment in the city,said Le Manh Ha, Vice Chairman of the Ho Chi Minh City People’sCommittee.
Singaporean companies have so far invested in over 667 projects capitalised at nearly 7 billion USD.
Alongwith existing fields, Singapore investors are interested intechnology, which is suitable to the city’s economic restructuringorientation as well as its capacity for skills and human resources, Hasaid, adding the city is committed to creating favourable conditions forSingaporean businesses to carry out their long-term investment in thehub.
HCM City and Singapore are also seeing sound development in other areas such as trade, culture and education.
In 2013, Singapore was the city’s third biggest trade partner, with two-way trade of 3 billion USD.
NormanLim, Chairman of the Singaporean Businesses’ Association, said thisyear many Singaporean firms are eyeing on Vietnam ’s agro-forestryproducts and seafood, so Singapore promotion agencies have boostedcooperation programmes with their Vietnamese partners in these sectors.
LeowSiu Lin, Consul General in HCM City , highlighted the relationsbetween the two countries, saying the ties were being stepped up by bothgovernments and peoples, including their respective businesscommunities.
In regards to social disturbances in May, she saidthe Singaporean Government and business community highly appreciate thetimely measures taken by the Vietnamese Government, which showed theresolve to maintain a favourable, stable and safe investment environmentfor enterprises.
Edlyn Khoo, Director of InternationalEnterprises (IE) at Singapore 's Ho Chi Minh Centre added that the cityis a national leader in attracting investment from Singapore ,followed by Hanoi and Quang Ngai, Bac Ninh, Binh Duong and Ba Ria -Vung Tau provinces.
She emphasised that Singapore ’s future goalis to strengthen its partnership with HCM City as well as with andother provinces in Vietnam . Singapore wishes to expand cooperationwith Vietnam in a host of areas, including trade, import-export,technology transfer and preservation of food and farm produce toincrease the value of Vietnam ’s agricultural sector.
Inaddition, Singapore’s famous brand names are keen on the Vietnameseconsumer market, and hope to cooperate in franchising opportunities insuch fields as retail, food and services, Khoo concluded.-VNA
In the three months of 2014,the country’s economic hub granted licences to 71 foreign-investedbusinesses with total investment capital of nearly 750 million USD,4.5-fold increase against the same time last year.
The totalincluded nine Singaporean enterprises capitalised at over 200 millionUSD, comprising 31 percent of the total foreign investment in the city,said Le Manh Ha, Vice Chairman of the Ho Chi Minh City People’sCommittee.
Singaporean companies have so far invested in over 667 projects capitalised at nearly 7 billion USD.
Alongwith existing fields, Singapore investors are interested intechnology, which is suitable to the city’s economic restructuringorientation as well as its capacity for skills and human resources, Hasaid, adding the city is committed to creating favourable conditions forSingaporean businesses to carry out their long-term investment in thehub.
HCM City and Singapore are also seeing sound development in other areas such as trade, culture and education.
In 2013, Singapore was the city’s third biggest trade partner, with two-way trade of 3 billion USD.
NormanLim, Chairman of the Singaporean Businesses’ Association, said thisyear many Singaporean firms are eyeing on Vietnam ’s agro-forestryproducts and seafood, so Singapore promotion agencies have boostedcooperation programmes with their Vietnamese partners in these sectors.
LeowSiu Lin, Consul General in HCM City , highlighted the relationsbetween the two countries, saying the ties were being stepped up by bothgovernments and peoples, including their respective businesscommunities.
In regards to social disturbances in May, she saidthe Singaporean Government and business community highly appreciate thetimely measures taken by the Vietnamese Government, which showed theresolve to maintain a favourable, stable and safe investment environmentfor enterprises.
Edlyn Khoo, Director of InternationalEnterprises (IE) at Singapore 's Ho Chi Minh Centre added that the cityis a national leader in attracting investment from Singapore ,followed by Hanoi and Quang Ngai, Bac Ninh, Binh Duong and Ba Ria -Vung Tau provinces.
She emphasised that Singapore ’s future goalis to strengthen its partnership with HCM City as well as with andother provinces in Vietnam . Singapore wishes to expand cooperationwith Vietnam in a host of areas, including trade, import-export,technology transfer and preservation of food and farm produce toincrease the value of Vietnam ’s agricultural sector.
Inaddition, Singapore’s famous brand names are keen on the Vietnameseconsumer market, and hope to cooperate in franchising opportunities insuch fields as retail, food and services, Khoo concluded.-VNA
