Singaporean businesses stay put in Vietnam

Singaporean enterprises still plan more trade and investment in Vietnam despite economic difficulties, said Singaporean consul general Pong Kok Tian on Aug. 8.
Singaporean enterprises still plan more trade and investment in Vietnam despite economic difficulties, said Singaporean consul general Pong Kok Tian on Aug. 8.

Addressing a ceremony in Ho Chi Minh City to mark 47 years of the Independence Day of Singapore Aug. 9, Pong said that Singaporean enterprises reaffirmed their belief in Vietnam’s long-term prospects of economic growth.

By July 2012, Singapore’s total investment in Vietnam reached 23.3 billion USD, making it the fourth biggest investor in Vietnam. Singaporean companies are involved in a wide range of areas, especially infrastructure, services and real estate.

Speaking at the event, Nguyen Thanh Rum – Director of the municipal Department of Culture, Sports and Tourism noted that the Vietnam-Singapore relations have seen significant development over the past nearly 30 years.

Highlighting Singapore as one of Vietnam’s leading trading partners, Rum – who is chairman of the Vietnam – Singapore Friendship Association in Ho Chi Minh City - also called for more investment in Vietnam’s tourism.-VNA

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