Vietnam attracts Singaporean investors: Envoy


HANOI (Vietnam News/Asia News Network): Vietnam remains an attractive destination for foreign investors, including those from Singapore, thanks to the government’s concerted efforts and measures to improve the business climate and the expansion of free trade agreements. exchange.

These are the views of Singapore’s Ambassador to Vietnam, Jaya Ratnam, who spoke to Vietnam News Agency on the eve of the Lunar New Year.

The diplomat pointed out that Singapore had been the main source of foreign direct investment (FDI) in Vietnam for two consecutive years, with money flowing into a wide range of areas such as financial and insurance services, manufacturing. , real estate and wholesale and retail trade. .

“The Vietnam-Singapore Industrial Parks (VSIPs) are the cornerstone of Singapore’s economic engagement with Vietnam,” he said, adding that they have attracted some $14 billion and generated more than $270,000. jobs in Vietnam over the past 25 years.

Developing the digital economy would be a key priority for both countries in the coming decades, the diplomat added.

Singapore hailed the deepening digital economic collaboration with Vietnam, especially since Vietnam had identified the digital economy as one of the key drivers for its growth which, in turn, would propel the country towards its goal. ambitious to become a high-income country by 2045. .

Cooperation between cross-border data flows, cybersecurity and AI governance would provide the foundation for Vietnamese and Singaporean start-ups and companies to transact with each other easily and securely, and enable them to grow their digital businesses. , did he declare.

“Covid-19 has highlighted the crucial role of digital commerce and e-commerce in ensuring supply chain resilience and transport connectivity. In the future, we hope Vietnam will join our network of digital alliances to foster interoperability of standards and systems,” the diplomat said.

He also stressed the importance of the resumption of commercial flights between the two countries, describing it as a vital step in restoring safe travel supporting economic growth and people-to-people ties.

He added, “We are working closely with Vietnam on the mutual recognition of our vaccine certificates, which allows us to further open our borders in a safe and calibrated manner.”

The Ambassador also said that Vietnam continues to consolidate its position as a key link in global supply chains, which will provide opportunities for Singaporean companies to collaborate with Vietnamese partners in the logistics and e-commerce sectors. .

Given the huge potential of Vietnam’s e-commerce market, Singapore-based companies like Grab and Shopee have been steadily expanding their presence in Vietnam.

“I have no doubt that Vietnam’s economy will not only recover this year, but also recover strongly. I have full confidence that Singapore companies will continue to seize opportunities to connect with Vietnam’s growth,” he said.

Regarding the bilateral relations, the diplomat said that they were built on a solid foundation of mutual trust and support and had been further cemented over the past two years despite the many difficulties caused by the raging Covid-19. .

High-level bilateral engagements have been maintained, including an in-person meeting between Prime Minister Phạm Minh Chính and Singaporean Prime Minister Lee Hsien Loong in Jakarta in April 2021, and an official trip to Vietnam by Singaporean Foreign Minister, the Dr. Vivian Balakrishnan in June. Last year.

In Hanoi and Ho Chi Minh City, Vietnam’s two largest cities, the Singaporean community has stepped up to raise funds to purchase and distribute essentials to the needy, mindful of Vietnam’s timely support to Singapore when the situation was difficult in their country.

“For me, this crisis has once again underlined that Singapore and Vietnam are not fair weather friends.

“We can count on each other in good and bad times,” the diplomat said, concluding that building on solid foundations, Vietnam and Singapore will further expand cooperation in new areas of economy. digital and sustainable development.

“I have no doubt that Vietnam’s economy will not only recover this year, but also recover strongly. I have full confidence that Singaporean businesses will continue to seize opportunities to connect with Vietnam’s growth,” the Singaporean Ambassador said.

Vietnam and Singapore would celebrate the 50th anniversary of the establishment of diplomatic ties and the 10th anniversary of the strategic partnership in 2023.

It is also the expected moment when the two countries would have recovered from the difficulties of the Covid-19 pandemic and continue to promote bilateral commitments as well as to expand cooperation, with particular priority given to the field of the digital economy. and sustainable development, the diplomat said. concluded.


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