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Vietnam offers opportunities, says Singaporean Minister

Singapore top daily The Straits Times on September 13 quotes Grace Fu, Minister in the Prime Minister's Office, as saying that Vietnam, with a young and hard-working population, offers opportunities for Singapore’s firms despite recent fiscal challenges.
Singapore top daily The Straits Times on September 13 quotes Grace Fu,Minister in the Prime Minister's Office, as saying that Vietnam, with ayoung and hard-working population, offers opportunities for Singapore’sfirms despite recent fiscal challenges.

Speaking toSingaporean reporters in Hanoi on September 12, Fu, who is accompanyingPrime Minister Lee Hsien Loong on an official visit to Vietnam fromSeptember 11-13, urged Singapore companies to pay attention to thecountry with a population of nearly 90 million, pointing toopportunities in several growing industries like manufacturing,financial services and tourism.

"Labour cost is verylow... and with their greater linkages to the world through variousfree trade agreements as well as the TPP (Trans-Pacific Partnership) forexample, we see this as great potential for us to tap," she said.

Fu added that Singapore is keen to help Vietnam create a more robust regulatory framework and to share its experiences.

Another daily, The Business Times, in its September 13 issue, quotesFu as saying that despite financial challenges, there are still plentyof opportunities for Singapore investments in Vietnam - not just infinancial services, but also in such areas as manufacturing and tourism.-VNA
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