Singapore (VNA) – A roundtable seminar was held in Singapore on August 28 to promote investment promotion initiatives between Vietnam and the city state.
Jointly organised by the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC), the Vietnam Trade Office in Singapore, and their partners, the event brought together representatives from business associations and companies across sectors, including industrial infrastructure development, manufacturing, high technology, green economy, digital transformation, trade, and investment consulting.
Cao Xuan Thang, Vietnamese Trade Counsellor in Singapore, briefed participants on Vietnam’s economic development and the investment cooperation potential between the two countries. He noted that despite escalating trade tensions among powers, Vietnam remains a promising investment destination, with investment inflows continuing to rise.
Victor Ngo, CEO of UOB Vietnam, said that Vietnam has been a bright investment spot for decades due to its stable economic ecosystem, increasingly skilled workforce, and labour cost advantages. He said Singapore was the largest foreign investor in Vietnam in the first half of this year, which reflects the strength of the bilateral partnership.
He highlighted Vietnam’s competitiveness in regional and global supply chains, citing its geographical location, political stability, government support, improved infrastructure, and skilled workforce. He added that increased foreign investment in Vietnam, including HCM City, will help build a stronger and more resilient Asian supply chain.
Gao Minghui, Chairman and CEO of Protus – a company specialising in designing and operating integrated supply chains, said his firm has invested 30 million USD across six sectors in Vietnam – packaging, non-ferrous metals, consumer goods, plastics, medical supplies, and deep-processed farm produce.
The company will continue to expand investment in these and other industries in Vietnam, he went on, expressing his belief that the country holds immense development opportunities in the future.
Highlighting HCM City’s investment potential, advantages, and environment, ITPC Deputy Director Cao Thi Phi Van noted that over 400,000 businesses in the city can serve as effective partners for investors.
She said the event provided a valuable platform for Singaporean and Vietnamese companies to connect and expand bilateral investment opportunities, particularly in HCM City, which is inviting investment to 127 projects, including 44 key ones.
Assessing local business and investment opportunities, Andrew Yeo, CEO of Phaos Tech, described the country as a rising star in Southeast Asia with significant growth potential. He said that the firm sees opportunities for investing in startups of Vietnam, which boasts great energy and abundant human resources, and it plans to invest more here, including HCM City.
At the event, Amy Wee, Country Head of the Singapore Business Federation in Cambodia, Laos, Myanmar, and Vietnam, shared experiences investing in HCM City and Vietnam in general.
Other participants also discussed the orientations for attracting high-tech investments and boosting sustainable development in industrial and export processing zones of HCM City./.
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