Singaporean firms seek further investment opportunities in HCM City
VOV.VN - Vietnam has emerged as an attractive destination for Singaporean businesses to seek investment opportunities and promote trade exchanges, according to industry insiders.
This information was unveiled at a seminar held on March 9 in Ho Chi Minh City in order to introduce the business climate and trade connectivity between firms from both countries.
Upon addressing the event, Cao Thi Phi Van, deputy director of the Investment and Trade Promotion Centre (ITPC), emphasised that Singapore ranks second among 140 countries and territories investing in the Vietnamese market with a total registered capital reaching US$71.85 billion.
Most notably, Singapore topped the list of 117 countries injecting capital into the southern city with more than 1,677 projects capitalised at nearly US$14.2 million.
Kho Choon Keng, chairman of Singapore Chinese Chamber of Commerce and Industry (SCCCI), pointed out that over recent years the nation has rapidly emerged as an attractive destination market for Singapore companies.
In line with this, many Singaporean firms have established a presence or are actively seeking opportunities across multiple sectors in the country, including infrastructure development, manufacturing, transportation, logistics, education, tourism, finance, and agriculture.
He stressed that Vietnam has maintained its image as a magnet for foreign investors, especially Singaporean financiers due to its political stability, transparent and attractive investment environment, as well as positive economic growth with a qualified and diligent workforce.
He noted that Ho Chi Minh City is widely considered to possess the most factors that attract international financiers compared to other cities as this is an important political, economic, cultural, scientific, and technological hub in the country.
Moreover, the southern metropolis boasts a significant amount of high-quality human resources with more than 4.6 million workers, improved infrastructure system with roads, railways, waterways, and airways conveniently connecting both domestic and international regions.
More importantly, foreign businesses will have the opportunity to access a market of more than 10 million people living locally along with the seven neighbouring provinces.
Furthermore, the city has also served as a bridge for foreign firms looking to reach the ASEAN community of 500 million people.
Cao Xuan Thang, first secretary in charge of the Vietnam Trade Office in Singapore, said there remains plenty of room for effective co-operation in both trade and investment between the two countries.
In particular, the island-city state has emerged as a service and financial hub of Southeast Asia, whilst Vietnam has also become an attractive destination for both international investors and distributors.
