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 leading Singaporean businesses in innovation on February 25, part of his State visit to Singapore.

Meeting with Grab President Ming Maa, President Phuc welcomed the group’s plan to assist micro-, small- and medium-sized enterprises in digital transformation in Vietnam, asking it to strongly take part in Vietnam’s programme on supporting digital transformation in businesses, cooperatives, and business households during 2021 - 2025.

Relevant agencies of Vietnam will create the best possible conditions for Grab in this field, he affirmed.

Appreciating the Vietnamese Government and relevant agencies’ support and favourable conditions for his firm, Ming said Grab has been effectively implementing some meaningful technological platforms in the country such as those for shopping essential goods and food over the last two years. It has also been promoting digital transformation in agriculture and stepping up comprehensive finance through fintech solutions.

Grab invested 200 million USD in Vietnam as of 2019. In late 2019, it pledged to pour 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)

Talking to Executive Chairman of YCH Group Robert Yap, President Phuc spoke highly of the firm’s operations in the country’s logistics industry, which is also a priority sector of Vietnam.

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

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

Vietnam prioritises the projects on high technology, innovation, research and development, and digital economy, as well as those contributing to its sustainable socio-economic development, he went on, asking FWD with a large international clientele to help attract foreign investors to Vietnam in the coming time.

Vietnam always supports and commits to stand side by side with FDI companies and provide favourable conditions for their long-term and sustainable operations in the country, President Phuc noted./.

VNA