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Jan 14, 2021 / 12:31

Singapore’s investors seek investment opportunities in startups in Vietnam

More investment from Singapore’s tech firms will help maintain its position as Vietnam’s top investor, Prime Minister Nguyen Xuan Phuc has said.

Singapore’s investors are seeking investment opportunities in Vietnam, particularly in fields of innovation, smart city and startups, which are in line with the Vietnamese government’s development priorities.

 Prime Minister Nguyen Xuan Phuc and Singapore’s Ambassador to Vietnam Catherine Wong. Photo: Quang Hieu. 

Singapore’s Ambassador to Vietnam Catherine Wong shared the information at meeting with Prime Minister Nguyen Xuan Phuc on January 13 when she came to bid farewell before the end of her working period in Vietnam..

Ms. Wong congratulated Vietnam on its successful role as the ASEAN Chair in 2020, saying Vietnamese initiatives helped strengthen linkages and cooperation among the bloc’s members.

Amid the Covid-19 pandemic causing severe disruption in global trade, Ms. Wong stressed the importance of the Regional Comprehensive Economic Partnership (RCEP) that was signed in 2020 with the active contribution of Vietnam.

Referring to Vietnam and Singapore as two major countries that help maintain economic connectivity in the region, Mrs. Wong emphasized the necessity to ensure safe travel and trade cooperation during the pandemic context.

Vietnam’s Prime Minister Phuc said mutual trust between Vietnam and Singapore was a key factor to ensure major success in bilateral trade and investment relations.

Mr. Phuc, however, said the cooperation potential remains vast for both countries, expecting more cooperation in various fields.

“The successful of the Vietnam – Singapore Industrial Park (VSIP) is a highlight in Vietnam- Singapore economic relations, but there should be more of similar models to further boost economic growth and creating jobs,” Mr. Phuc added.

The PM expected more investment from Singapore’s tech firms, which will help maintain its position as Vietnam’s top investor.

“With high quality education sector, there will be more Vietnamese students coming to Singapore, in turn helping raise the quality of Vietnam’s workforce,” he stressed.