Vietnam vows creating a transparent business environment for Singaporean investors
Vietnam committed to creating a transparent and fair business environment in line with international practices, especially for foreign investors, including those from Singapore, President Tran Dai Quang said at the Singapore-Vietnam business forum in Singapore on August 29.
Speaking at the Singapore-Vietnam business forum held in Singapore on August 29, President Tran Dai Quang said that Vietnam always welcomes Singaporean investors and believes in their success in doing business in the country.
The State leader affirmed that Vietnam commits to creat a transparent and fair business environment in line with international practices, especially for foreign investors, including those from Singapore.
Vietnam also encourages Singaporean enterprises to invest in venture funds and connect Vietnamese partners with the global market, the President said.
He believed that Vietnam and Singapore are quite able to double bilateral trade in the future on the back of the ASEAN Economic Community and the Trans-Pacific Partnership.
The President said Vietnam encourages Singaporean investment in information technology, biology, environment, infrastructure, public-private partnership, finance-banking, tourism-hi-quality services, logistics, health care, education, supporting industry, maritime services and offshore equipment, and equitisation of State-owned enterprises.
He also expressed his wish to lift strategic partnership with Singapore to a new height to match each country’s potential.
He believed that Vietnam and Singapore are quite able to double bilateral trade in the future on the back of the ASEAN Economic Community and the Trans-Pacific Partnership.
President Quang said Vietnam welcomes Singapore’s market opening for farm produce and wishes to export more made-in-Vietnam consumer goods, electronics and spare parts to Singapore.
He expressed his desire to increase the number of tourists to 1 million people per year in the nearest future by launching more commercial flights from Singapore’s Changi airport to Vietnam.
Singapore is currently Vietnam’s major partner in ASEAN in the fields of trade, tourism, international transport, education-training, and health care, and the largest trade partner with 1,664 projects worth over 38 billion USD, including Sembcorp’s Vietnam-Singapore Industrial Park as a successful model in the past 20 years.
The President emphasised that Vietnam stays persistent in achieving rapid and sustainable economic development goals on the basis of stablising macro-economy, renewing growth model, developing knowledge-based economy, and enhancing economic competitiveness.
Addressing the forum, Singaporean Minister for Trade and Industry S.Iswaran said the Singaporean business community is satisfied with Vietnam’s policies and appreciative of the Vietnamese State’s commitment to ensuring a favourable business environment in the country.
Minister S.Iswaran also urged the two countries’ businesses to tap new trade and investment opportunities.
Later, the Singapore Business Federation (SBF) held a business dialogue, during which, President Quang, Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Tran Tuan Anh and Minister of Education and Training Phung Xuan Nha answered questions regarding policies to improve business climate, develop small and medium-sized enterprises, cooperation in education, and the world’s impacts on Vietnam’s trade with countries.
At the forum, the Vietnam Chamber of Commerce and Industry and the SBF signed a memorandum of understanding (MoU) on cooperation.
President Tran Dai Quang speaks at the Singapore-Vietnam business forum held in Singapore on August 29.
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Vietnam also encourages Singaporean enterprises to invest in venture funds and connect Vietnamese partners with the global market, the President said.
He believed that Vietnam and Singapore are quite able to double bilateral trade in the future on the back of the ASEAN Economic Community and the Trans-Pacific Partnership.
The President said Vietnam encourages Singaporean investment in information technology, biology, environment, infrastructure, public-private partnership, finance-banking, tourism-hi-quality services, logistics, health care, education, supporting industry, maritime services and offshore equipment, and equitisation of State-owned enterprises.
He also expressed his wish to lift strategic partnership with Singapore to a new height to match each country’s potential.
He believed that Vietnam and Singapore are quite able to double bilateral trade in the future on the back of the ASEAN Economic Community and the Trans-Pacific Partnership.
President Quang said Vietnam welcomes Singapore’s market opening for farm produce and wishes to export more made-in-Vietnam consumer goods, electronics and spare parts to Singapore.
He expressed his desire to increase the number of tourists to 1 million people per year in the nearest future by launching more commercial flights from Singapore’s Changi airport to Vietnam.
Singapore is currently Vietnam’s major partner in ASEAN in the fields of trade, tourism, international transport, education-training, and health care, and the largest trade partner with 1,664 projects worth over 38 billion USD, including Sembcorp’s Vietnam-Singapore Industrial Park as a successful model in the past 20 years.
President Tran Dai Quang and ministers answered questions at the forum.
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Addressing the forum, Singaporean Minister for Trade and Industry S.Iswaran said the Singaporean business community is satisfied with Vietnam’s policies and appreciative of the Vietnamese State’s commitment to ensuring a favourable business environment in the country.
Minister S.Iswaran also urged the two countries’ businesses to tap new trade and investment opportunities.
Later, the Singapore Business Federation (SBF) held a business dialogue, during which, President Quang, Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Tran Tuan Anh and Minister of Education and Training Phung Xuan Nha answered questions regarding policies to improve business climate, develop small and medium-sized enterprises, cooperation in education, and the world’s impacts on Vietnam’s trade with countries.
At the forum, the Vietnam Chamber of Commerce and Industry and the SBF signed a memorandum of understanding (MoU) on cooperation.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years