Dialogue session to seek improvement involving Singapore businesses, Ho Chi Minh (HCM) City authorities and Vietnamese government agencies and Singapore Consulate
ACCORDING to a media release issued by Vietnam Economy News, the views and questions of many Singaporean businesses and investors have been given priority to assist them in their operational expansion plans, especially in the fields of finance, trade and high technology. They received explanations and direct recommendations from the leadership of HCM City.
Representatives of Singaporean firms expressed their interest in the city at a meeting with local leaders jointly held by the HCM City Investment and Trade Promotion Centre (ITPC) and the Singaporean Consulate General on 19th December 2023.
Reviewing progress in Vietnam-Singapore relations, Chairman of the Municipal People’s Committee Phan Văn Mãi said two-way trade exceeded US$9.1 billion last year, and Singapore has become Việt Nam’s fifth biggest trading partner and the largest foreign investor in the Association of Southeast Asian Nations (ASEAN).
Singapore has been the biggest foreign investor in HCM City, he said, adding that by the end of November, the country had 1,821 projects worth $14.2 billion, or nearly 25 per cent of total FDI in the southern largest economic hub.
Being aware of the importance of FDI to local economic development, HCM City has taken many measures to accelerate administrative reform and create favourable conditions for foreign firms to operate in the city, the official said.
Mr Kho Ngee Seng Roy, Consul General of Singapore in HCM City expressed appreciation for HCM City’s organisation of the business meetings. The Consul General said that the number of Singaporean businesses investing in the city is expected to rise. Companies in real estate, logistics, finance and banking, energy, infrastructure, and ride-sharing services are committed to partnering with HCM City for the long-term development of business ventures in the region.
Source: Newswires / VNS
