Vietnamese President receives leading Singaporean firms in innovation

Participants in the meeting between President Nguyen Xuan Phuc (fourth from right) and Grab President Ming Maa (fifth from right) in Singapore on February 25 (Photo: VNA)

Singapore (VNA) – President Nguyen Xuan Phuc received some leadingSingaporean businesses in innovation on February 25, part of his State visit toSingapore.

Meetingwith Grab President Ming Maa, President Phuc welcomed the group’s plan toassist micro-, small- and medium-sized enterprises in digital transformation inVietnam, asking it to strongly take part in Vietnam’s programme on supportingdigital transformation in businesses, cooperatives, and business householdsduring 2021 - 2025.

Relevantagencies of Vietnam will create the best possible conditions for Grab in thisfield, he affirmed.

Appreciatingthe Vietnamese Government and relevant agencies’ support and favourableconditions for his firm, Ming said Grab has been effectively implementing some meaningfultechnological platforms in the country such as those for shopping essentialgoods and food over the last two years. It has also been promoting digitaltransformation in agriculture and stepping up comprehensive finance throughfintech solutions.

Grabinvested 200 million USD in Vietnam as of 2019. In late 2019, it pledged topour another 500 million USD into the country within the next five years.

President Nguyen Xuan Phuc (third from right) and Executive Chairman of YCH Group Robert Yap (third from left) at the meeting in Singapore on February 25 (Photo: VNA)

Talkingto Executive Chairman of YCH Group Robert Yap, President Phuc spoke highly ofthe firm’s operations in the country’s logistics industry, which is also apriority sector of Vietnam.

He applaudedYCH Group’s partnership with T&T Group of Vietnam to develop a largelogistics centre in Vinh Phuc province, stating that the country will createoptimal conditions for this business to make long-term and sustainable investment.

Receivinga leader of FWD, a leading insurance and investment group in Asia-Pacific, theVietnamese President highly valued the company’s business outcomes in thecountry.

Vietnamprioritises the projects on high technology, innovation, research anddevelopment, and digital economy, as well as those contributing to itssustainable socio-economic development, he went on, asking FWD with a largeinternational clientele to help attract foreign investors to Vietnam in thecoming time.

Vietnamalways supports and commits to stand side by side with FDI companies and providefavourable conditions for their long-term and sustainable operations in thecountry, President Phuc noted./.

VNA