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  • News in Vietnam
  • 25 October 2022

Numerous Singapore businesses looking to invest in HCMC

On October 19, Mr. Nguyen Van Nen, Politburo member, Secretary of the Ho Chi Minh City Party Committee had a meeting with the President of Singapore – Mrs. Halimah Yacob, on her official visit to Vietnam from 16th to 20th of October, 2022.

At the meeting, Mr. Nen expressed the pleasure to welcome Ms. Halima Yacoub and gratitude to Singapore’s leaders and people for supporting Vietnam, including Ho Chi Minh City, in the recent COVID-19 epidemic prevention and control.

Addressed Ho Chi Minh City’s role in promoting economic development, culture, education and science and technology, Secretary of the City Party Committee Nguyen Van Nen said that Singapore is an pivotal partner, strongly demonstrated by plenty of cooperations that create significant values ​​to HCM City in trade, investment and economic development fields. Coordination programs between Ho Chi Minh City and Singaporean ministries, sectors and businesses have been carried out actively with great potential in recent years. However, room for programs and activities between the two countries is still abundant, which should continue to be implemented and promoted with in-depth and long-term cooperation activities.

In addition to economic activities, Secretary of the City Party Committee Nguyen Van Nen also shared more and more extensive cultural, educational and tourism exchanges and connections between Vietnam and Singapore. The issues of health, medical examination and treatment, and science and technology transfer have become more and more prominent, showing the deep concern between the leaders of the two countries as well as the ministries, branches and peoples of the two countries.

Regarding the economic and social situation of Ho Chi Minh City after the Covid-19 pandemic, Secretary of the City Party Committee Nguyen Van Nen emphasized, the city is having a strong recovery.

Besides the advantages, Mr. Nguyen Van Nen, Secretary of the City Party Committee, also shared the difficulties and challenges that the city is facing such as infrastructure and human resources. At the same time, we hope that Singapore will cooperate and share experiences in administration and civil services; renewable energy, green energy problem solving; building infrastructure, fighting climate change, developing an innovative start-up business community and promoting the development of key products…

At the meeting, Singapore President Ms. Halimah Yacob was pleased to return to Vietnam, sincerely thanking the warm and enthusiastic welcome of the leaders and people of Ho Chi Minh City. At the same time, she congratulates Ho Chi Minh City on a quick and effective recovery after the Covid-19 epidemic.

She has looked with favor with Ho Chi Minh City’s goal of becoming a national and regional economic and financial center; at the same time, shared the adversities and challenges that Ho Chi Minh City faces in terms of transportation and climate change and continued to promote the development of information technology and artificial intelligence…

Ms. Halima Yacoub also highly appreciated Ho Chi Minh City’s future goal of rapid and sustainable development, which is also improving people’s living conditions… However, to solve the problem, the city needs to have good policies and attract foreign investment, including Singaporean investors. As a result, cooperation activities not only contribute to promoting local economic development, but also solve problems and difficulties that the city is confronting .

Ms. Halima Yacob said that a number of Singapore businesses have expressed their interest in investing in Ho Chi Minh City as recognized its young human resources, living conditions and special favor from city leaders. These basic advantages help HCMC overcome the deadlock; Singapore will always accompany Vietnam in general and Ho Chi Minh City in particular to promote common development. Statistics shows that the total import-export turnover of Ho Chi Minh City-Singapore will reach nearly $8 billion in 2021. Total registered investment capital from Singapore into Ho Chi Minh City will amount to $11.9 billion (ranked 1/116 countries and territories with registered investment capital in Ho Chi Minh City).

Source: Baomoi