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Vietnam, Singapore beef up investment links in industry

A forum to promote investment in industries in Vietnam was held online on April 15 within the framework of the Vietnam International Trade Fair (Vietnam Expo 2021) in Singapore.
Vietnam, Singapore beef up investment links in industry ảnh 1Illustrative image (Photo: VNA)

Singapore (VNA) - A forum to promote investment in industries in Vietnam was held onlineon April 15 within the framework of the Vietnam International Trade Fair (Vietnam Expo 2021) in Singapore.

Addressing the forum, General Director of the Trade Promotion Agency under the Ministry of Industry and Trade Do Ba Phu said he values Singaporean investor’spotential and predicted that investment flows from Singapore to Vietnam willrise sharply in the future.

Singapore was the largest investor in Vietnam last year, with nearly 9 billionUSD, accounting for 31.5 percent of the country’s total foreign investment.

It possesses advantages in investing in key industries where Vietnam is callingfor investment, Phu said.

Tran Thu Quynh, Vietnamese TradeCounsellor in Singapore, briefed participants on production trendsin Vietnam and the country’s priorities in attracting investment in industriesin the 2021-2030 period, and told them of free trade agreements Vietnam has signedwith foreign partners.

Douglas Foo, President of the Singapore Manufacturing Federation (SMF), who isalso President of the Vietnam - Singapore Business Council, highlighted thesignificance of the forum, affirming that Singaporean enterprises areinterested in the Vietnamese market.

In the context of COVID-19, with flight routes yet to restart between the twocountries, opportunities for links like this forum will help Singaporean firms learnmore about new investment opportunities in Vietnam, he said./.
VNA
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