Continuing the success of the first Vietnam-Singapore Business Forum (VSBF) 2011, VSBF 2013 is scheduled to take place from April 17 to 19 in Ho Chi Minh City. The event is jointly organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the Singapore Business Federation (SBF). This is one of a series of activities in commemoration of the 40th founding anniversary of Vietnam - Singapore diplomatic ties. This is also a significant event to strengthen Vietnam - Singapore investment relations.
Vietnam Business Forum interviewed Dr Doan Duy Khuong, VCCI Vice President, ahead of this especially important event.
What do you think about Vietnam - Singapore cooperation over the past time, especially in the framework of ASEAN cooperation?
Since the establishment of diplomatic relations in 1973, Vietnam and Singapore have become trade and investment partners of each other. Especially after Vietnam joined the Bali Treaty in July 1992 and became a full member of ASEAN in July 1995, the relations between the two countries have entered a new stage of development. Singapore attaches great importance to developing relations with Vietnam and Vietnam has become one of its main markets in Southeast Asia. Singapore has also become a leading trade and investment partner of Vietnam. Many Singaporean investment projects in Vietnam are very effective, including five Vietnam - Singapore Industrial Parks (VSIP). This is an exemplary model of cooperation and investment between Vietnam and Singapore.
According to data from the Vietnam Chamber of Commerce and Industry (VCCI), the two-way trade turnover keeps growing up. The value reached US$6.2 billion in 2010, US$8.7 billion in 2011 and US$9 billion in 2012. As of 2012, Singapore had 1,099 investment projects with a total registered capital of US$24.67 billion in Vietnam, ranking fourth among more than 98 countries and territories with investment in Vietnam and being the biggest ASEAN investor in the country. In 2012 alone, Singapore had 89 new projects worth nearly US$490 million in Vietnam.
In addition, the two countries have many things in common and have active coordination in regional and international forums, especially in the framework of ASEAN, APEC and ASEM. The two sides are working to realize the aspiration of not only connecting the two economies but also connecting ASEAN economies.
This is the second time VCCI and SBF host the Vietnam - Singapore Business Forum. Could you talk about some major successes of VSBF 2011?
VSBF 2011 drew the participation of some 300 delegates from leading businesses and organisations in Singapore and Vietnam, focusing on four main topics of discussions, including Finance - Banking Services, Real Estate, Executive Education, and Supply Chain. The event caught the attention and strong support of the business communities of the two countries, especially the backing from large corporations like Vingroup, KinderWorld, Mercatus Capital, Ascendas and Savills. The forum reconfirmed the care of the two countries’ leaders and researchers as well as the interest in investment cooperation of the two countries’ businesses, particularly in finance, banking, transportation, education and real estate industries.
In conjunction with the forum, many cooperation agreements were signed, for example, the agreement between International Women's Federation of Commerce and Industry (IWFCI) and the Hanoi Women Entrepreneurs Association (HNEW), the signing between the Vietnam Chamber of Commerce and Industry (VCCI) with Mercatus Capital Company of Singapore. This is the typical evidence of the success of the forum and the attractiveness of investing in Vietnam.
In addition, participatory enterprises also had the chance to learn about Bac Ninh province, which was assessed to have a favourable investment and business environment.
Compared with VSBF 2011, does this year's event have anything new?
Unlike VSBF 2011 in Hanoi, VSBF 2013 is to open in Ho Chi Minh City, focusing on such topics as real estate financing, healthcare services, tourism, and manufacturing (mainly production and processing of food, agricultural products), and logistics.
On the opening day, industry leaders and economic experts will update Vietnam’s macroeconomic data in 2013 and subsequent years; investment environment in Vietnam; business opportunities for Vietnamese and Singaporean companies towards the ASEAN Economic Community (AEC) in 2015; and efforts and achievements of the governments and enterprises of the two countries towards the ASEAN Strategic Partnership Agreement towards AEC.
The second day will delve into four main topics of discussion. Compared with VSBF 2011, VSBF 2013 will include health services and tourism. During health services section, speakers will look into currently hot issues such as health policies of the Vietnamese Government; analyses and assessments of health cooperation between Vietnam and Singapore; good time for health investment in Vietnam. As regards tourism, speakers will enquire into the diversification of hotel tourism products and Singapore’s experience to become a tourist destination.
Another difference between the two events is the third day of this year’s gathering. There are two options for enterprises and speakers. One is the field trip to VSIP (Binh Duong province), Ascendas – Protrade Singapore Tech Park and Hanh Phuc Hospital, and the other is the visit to famous places of interest in Ho Chi Minh City.
The display section, showing products and services of the two countries’ businesses, is also a highlight of VSBF 2013.
What opportunities will VSBF 2013 offer to attending businesses of the two nations?
Continuing the success of VSBF 2011, especially the strong support from the Singaporean Embassy in Vietnam and Vietnamese ministries, this large-scale business-connecting event will encourage and strengthen business cooperation between leading corporations of Vietnam and Singapore. Participants can search for business opportunities by joining in VSBF-incorporated activities like seminars, business connectivity, exhibition visits and field trips to industrial parks and hospitals in HCM City and surrounding areas, or to survey the field at the park industry and local hospitals in the area around Ho Chi Minh City.
VSBF 2013 also helps deepen economic relationship between Singapore and Vietnam. This will be a great platform for business communities of the both sides to communicate and explore new investment opportunities in Vietnam, Singapore and even investment cooperation in third countries.
With this forum, businesses will also have the opportunity to contact and communicate with policymakers of the two countries; establish new relationships with potential partners and have access to capital sources; and look for new business opportunities in Singapore and Vietnam.
Particularly, Singapore and Vietnam will celebrate the 40th anniversary of two-way relations establishment this year. The opening of the VSBF at this point of time this will generate a lot of new cooperation opportunities for the two countries’ businesses.
I also really hope that when ASEAN countries are working towards the formation of the ASEAN Economic Community by 2015, VSBF 2013 will strengthen connectivity, introduce business opportunities to the two countries’ business communities, and realise the goal of ASEAN Economic Community by 2015.
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