VSIP (Vietnam Singapore Industrial Park) in the southern province of Binh Duong, one of the projects by Singaporean investors in Vietnam
Minister of Planning and Investment Bui Quang Vinh has promised favorable conditions for Singaporean investors in Vietnam.
Speaking at a three-day business forum between the two countries that ended in Ho Chi Minh City on April 19, he promised that his government would resolve all problems related to administrative procedures to help Singaporean businesses.
He hailed Singapore's investment in Vietnam in the last 20 years, which has gone up to US$27 billion in 1,139 projects.
Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry, said Singaporean investors not only brought money and modern technologies to Vietnam but also management experience and large distribution networks.
Singapore's Trade and Industry Minister Lim Hng Kiang said if the business environment in Vietnam sees more improvement, Singaporean firms would continue to expand their investments in the country.
Singaporean businesses want to invest in infrastructure, environment, real estate, and healthcare services, which are also the sectors in which Vietnam is seeking investment from Singapore, he added.
The Vietnam-Singapore Business Forum, hosted by the Vietnam Chamber of Commerce and Industry and the Singapore Business Federation, was part of activities to celebrate the 40th anniversary of the establishment of bilateral ties.
It saw more than 300 officials and entrepreneurs from the Ministry of Planning and Investment, Singapore's Ministry of Trade and Industry, and businesses from the two countries.