Leading Singapore businesses keen to expand operations in Vietnam
VOV.VN - Major corporations of Singapore have confirmed their commitment to investing in and expanding their operations in Vietnam, demonstrating their confidence in the country’s economic potential and favourable investment environment.
Leaders of CMIA Capital Partners, Surbana Jurong, Keppel and Temasek Holdings shared their commitments during their separate meetings with Vietnamese National Assembly Chairman Tran Thanh Man in Singapore on December 3.
Lee Chong Min, founder and managing partner of CMIA Capital Partners, and Lim Hong Kian, CEO of Surbana Jurong, highlighted that Vietnam is an attractive destination for foreign investors, with many large-scale projects, including the CMIA and Surbana Jurong’s US$1.3 billion eco-technology urban area project in Ho Chi Minh City. The project is expected to create 120,000 stable jobs, and attract businesses working in the fields of agriculture technology, food technology, and high-tech industries.
Both Lee and Lim expressed their continued interest in investing in Vietnam and expected to receive further support from the government.
Top legislator Tran Thanh Man congratulated the investors on signing a memorandum of understanding with Ho Chi Minh City and especially Cu Chi district to develop the project. He emphasized that Vietnam values the presence and investment of Singaporean companies, appreciating the effectiveness of their investment activities in the country.
He also said that the National Assembly is improving the legal framework to create favourable conditions for foreign enterprises to invest and operate in the country.
During a separate meeting with Keppel Group’s CFO Kevin Chng, the National Assembly Chairman praised Keppel’s successful business cooperation in Vietnam, particularly in infrastructure, real estate, and renewable energy, which has contributed to the development of urban areas in Vietnam.
He emphasized that Vietnam is a desirable destination for investors in infrastructure development and that there are opportunities for cooperation with companies like Keppel in clean energy, industrial parks, and urban development projects.
Kevin Chng shared that Keppel, which has been investing in Vietnam for more than 20 years with a registered capital of around US$3.8 billion, is eager to expand its investments in sustainable sectors like renewable energy and database. He reiterated the group’s commitment to continued cooperation with Vietnam.
Meeting with Chia Song Hwee, Deputy CEO of Temasek Holdings, Man acknowledged the group’s support for Vietnamese partners and noted that Singapore remains Vietnam’s second largest investor, with a network of 18 Vietnam-Singapore Industrial Parks (VSIP) in 13 provinces serving as a symbol of successful economic cooperation between the two countries. The Chairman expressed hope for Temasek to further expand its investments in Vietnam, adding that Vietnam is ready to address any difficulties or obstacles and create favorable conditions for foreign investors, including Temasek.
Chia praised Vietnam’s efforts to support Singaporean companies, including Temasek, and stated that the group has invested approximately SGP3 billion in Vietnam, spanning various sectors such as finance, retail, logistics, and renewable energy. He also noted that Vietnam’s recent economic growth and its diligent, young workforce are key factors in driving the country’s development and boosting cooperation between the two countries.
