Singaporean entrepreneurs appreciative of co-operation potential with Vietnam
VOV.VN - Economic and investment co-operation between the nation and Singapore continues to be a bright spot in bilateral relations, especially with regard to potential areas such as sustainable development, renewable energy, green economy, and the digital economy, according to the Singaporean business community.
Investment from Singapore into the country has recorded remarkable growth, hitting US$73.453 billion with 3,273 valid projects, surging by 67% over five years. Most notably, since 2020 Singapore has always been the largest foreign investor in the Vietnamese market.
The nation is therefore seen as one of the top priority markets for Singaporean investors because of its potential for strong growth in the fields of digitalization and renewable energy.
According to Cindy Lim, CEO of Kepple Infrastructure Holdings Pte Ltd, both sides boast strong connections, including data and air connections.
She also underlined the necessity for the two sides to continue expanding energy connectivity, such as unlocking the potential that exists for electricity export or connecting the regional power grid, stating that this will help to accelerate the renewable energy development progress in ASEAN.
According to Lim, the Vietnamese Government has announced National Power Development Plan VIII which seeks to guides the development of power plants and power grids between 2021 and 2030, with a vision towards 2050. This is the right time for investors as they become more involved in the energy transformation in the country.
Lim emphazised that Kepple Infrastructure Holdings is ready to double its investment in renewable energy development in Vietnam moving forward.
Meanwhile, Ronald Tay, CEO of CapitaLand Development in Vietnam, highlighted the nation as an important market for many Singaporean companies as it boasts long-term potential.
He therefore expressed his hope that Singaporean businesses will continue to receive strong support from the Vietnamese Government and relevant agencies.
What foreign investors are looking for is a level playing field, meaning Vietnam needs to maintain an open and transparent policy, thus boosting the long-term development of its economy, he stressed.