Conference promotes Vietnam-Singapore trade partnership

Up to 110 small- and medium-sized enterprises (SMEs) of Vietnam attended a conference in Singapore on March 10 to seek trade and investment partnership.

An aerial photo of the Vietnam-Singapore Industrial Park in Hai Phong city (Photo: VSIP)

The businesses’ participation benefited from an initiative jointly made by the Vietnam-Singapore Friendship Association, the Vietnamese Embassy in Singapore and the Vietnamese Entrepreneurs’ Club under the Vietnamese Association of Small- and Medium-sized Enterprises.

In his speech at the event, Vietnamese Ambassador to Singapore Nguyen Tien Minh highlighted the significance the conference and the presence of Vietnam’s SMEs at the event, saying this shows the businesses’ dynamism to look for business and investment opportunities in foreign markets.

Through Singapore, Vietnamese firms can make inroads into other markets in the region and the world, especially Europe – the important trade partner of both Vietnam and Singapore, he noted.

Thian Tai Chew from the Singapore Business Federation (SBF) said many of the SBF’s 24,000 members, mostly SMEs, are interested in Vietnam’s food, retail, e-commerce, supply chain, and infrastructure and urban development.

These sectors are Singaporean SMEs’ strengths and they want to share experience with Vietnamese partners, he said, reporting the SBF’s latest survey that says Vietnam ranks third among ASEAN member nations that Singaporean firms want to pour their investment into.

The Vietnam-Singapore relations have recorded strong developments in recent years across such fields as economy, defence, education-training, and people-to-people exchange.

Singapore is Vietnam’s third largest foreign investor, with a total investment of over 38 billion USD poured into 1,600 projects in terms of processing, technology, production, real estate, construction, transport and logistics.

The country is also the 12th biggest trade partner of Vietnam, with two-way trade doubling in the last decade, hitting nearly 16 billion USD in 2016.

Recent high-ranking visits of the two countries’ leaders helped lift the bilateral ties, promising to open many new opportunities for the two sides’ enterprises to foster trade and investment links.

The upcoming visit to Vietnam by Singaporean Prime Minister Lee Hsien Loong in late March is expected to promote all-around ties between the two countries, especially in people-to-people exchange.

Source: VNS

Other news

Most view

HCMC inspects Alibaba Tay Bac Cu Chi property project

HCMC inspects Alibaba Tay Bac Cu Chi property project

Director of the HCMC Department of Construction Tran Trong Tuan said that after receiving warning information about Alibaba Tay Bac Cu Chi property project, the agency has inspected the case to handle violations.
 

Banking-finance

Bitcoin use might face criminal charge in Vietnam

The issue, supply and use of illegal means of payments including Bitcoin and other crypto currencies might face criminal charge according to Item 1, Article 26 of the Penal Code 2015, which has been amended and supplemented in 2017.
 

Economy

Retailers urged to keep up with innovation trends

The retail industry has changed dramatically in the digital age where everything is connected, requiring retailers to continue to innovate to better serve customers’ diverse needs, speakers have said at a one-day summit held in Ho Chi Minh City.
 

Self - introduction

Stock market

MoC sells 118.3million of DIG's shares

The Development & Investment Construction (DIG) Corp, said Ministry of Construction (MoC) has registered to sell 118.3 million shares accounting for 49.65 percent of DIG’s total capital within one month starting November 17.