Vietnam – Singapore Uplifting Economic Connectivity

10:43:29 AM | 5/2/2013

The - Business Forum 2013 (VSBF 2013) was recently held at the Windsor Plaza Hotel, Ho Chi Minh City . The event, attended by over 300 delegates and speakers, was organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the Singapore Business Federation (SBF) with the support of the Embassy of the Republic of Singapore in Vietnam, International Enterprise Singapore (IE Singapore), the Singapore Business Group (SBG) and the Development Strategy Institute (DSI) under the Ministry of Planning and Investment (MPI) of Vietnam.

 

 

Speaking at the forum, Mr Bui Quang Vinh, Minister of Planning and Investment of Vietnam, said, relations between and have developed at a rapid pace across all aspects in recent years, including politics, economy, culture and especially trade. He noted that is committed to creating a favourable business environment, stepping up administrative procedure, simplification, applying preferential policies for foreign businesses and investors. also encourages its enterprises to invest in foreign countries, especially - a gateway to reach the world and to stay close to .

 

Dr Doan Duy Khuong, VCCI Vice President, said: "2013 marks an important milestone for and as the two countries celebrate the 40th anniversary of diplomatic relations establishment. Our relationship is entering to a new chapter and looking towards strategic partnerships which will help strengthen economic links that play an important role in boosting the development of the two countries. In this sense, VSBF is a meaningful event since it brings good business opportunities in the near future, especially when ASEAN is moving towards the ASEAN Economic Community (AEC) by 2015."

 

Mr Ho Meng Kit, Director of the Singapore Business Federation - the co-organiser of VSBF 2013, said: "VSBF is the foundation for businesses of and to jointly explore new opportunities and learn from each other. This year, and will celebrate the 40th anniversary of strong bilateral relations establishment and we are happy when VSBF 2013 is one of the first events in celebration of this special milestone. and are currently receiving special benefits from their bilateral economic relations. The 9th - Singapore Ministerial Meeting on Economic Connectivity, which was wrapped up not long ago, reaffirmed strong public and private cooperation. The Strategic Partnership Agreement, expected to be signed this year, will open up new fields of cooperation and boost and give a fresh boost to the bilateral economic cooperation.”

 

VSBF 2013 also received great support from business communities. The event is honoured to be presented by – Singapore Industrial Park (VSIP), a successful model of investment in and also a symbol of the bonding bilateral relationship between and . VSIP has provided great contribution to the event as diamond sponsors. Other top industry leaders that provided great contribution to the event as Panels Sponsors are Mercatus Capital Pte Ltd (), Ascendas Protrade Co., Ltd., Keppel Land Ltd., Mapletree Vietnam Management Consultancy Co., Ltd., United Overseas Bank…

 

Apart from panel discussions on various tops, VSBF 2013 is also a meeting and working place for senior leaders of Vietnamese provinces and cities like Quang Ngai and Thanh Hoa to introduce business and investment opportunities to businesses and investors.

 

On April 18, 2013, the forum continued with panel discussions on four main topics: Real Estate Investment, Tourism, Healthcare Services, and Manufacturing & Logistics. Panel discussions were chaired by leading corporations, experts, and policymakers. On April 19, delegates visited Singapore-invested industrial parks and businesses in Binh Duong province.

 

 

Dr Vu Tien Loc

 

VCCI Chairman &President

 

There is no longer one-side investment flow as before but it now comes from both sides. With an opening, friendly investment environment, many foreign enterprises in general and investors in particular are stepping up their investments in . Singapore companies focus on consumer goods production, trade, engineering and assembly, industrial park, urban planning and logistics. Singapore investors not only bring capital to Vietnam but they also carry modern technologies, distribution networks, and good governance experience. This is a good opportunity for Vietnamese investors, especially SMEs, to learn to get through the crisis.

 

is now particularly interested in investment opportunities in . Trade offices opened by Vietnamese companies in also help them expand exports to the world.

 

Dr Bui Tat Thang

 

Director of the Development Strategy Institute, MPI

 

Since and established diplomatic ties in 1973, especially since became an official member of ASEAN in 1995, the bilateral relationship has kept thriving in many areas.

 

In the past years, ’s efforts for institutional building and administrative reform in are highly appreciated by international business community, making an attractive destination for investors in the region and in the world. More and more foreign businesses, including Singaporeans, invest in . However, to further promote the two-side relations, the two countries need to consider the structural complementarity of two economies to identify prominent advantages and drawbacks.

 

In the coming time, will promote the development of some areas such as processing industry and construction of industrial parks, economic zones, and urban infrastructure to attract more foreign investors. businesses will have their problems resolved if they report to competent authorities. Hopefully, bilateral relations will develop more strongly in the coming time.

 

Mr Pham Nhu So

 

Vice Chairman of Quang Ngai province’s People’s Committee

 

Quang Ngai province has a plenty of favourable conditions to attract investment capital. The province is now encouraging investment capital into some industries like petrochemical, metallurgy, shipbuilding and repairing, subcontracting, energy industry, food, consumer goods, packaging, and apparel.

 

VSBF 2013 is a good opportunity for businesses the two countries in general and Quang Ngai province-based businesses in particular to form and boost cooperation, exchange and connectivity and for the province to draw foreign investment.

 

Quang Ngai is committed to creating a investor-friendly mechanism for investors. The province defines that investors are citizens of Quang Ngai and their success are that of Quang Ngai.

 

Ms Edlyn Khoo

 

Director of International Enterprise (IE- Singapore) in HCM city

 

and enjoy strong bilateral relations. This has been encapsulated in the Singapore-Vietnam Connectivity Framework Agreement, a key G2G platform aiming to consolidate the countries’ strengths and competencies through accelerating ’s growth and promoting ’s active participation. has been a leading investor in . In transport and logistics, companies also remain keen to partner to provide integrated end to end supply chain management. companies are also interested to partner Vietnamese developers for property management services.

 

Besides, many foreign companies also use as their business hub to expand into Asia . Strategically located in the heart of Southeast Asia, has been the base for a large number of MNCs expanding into .

 

VSBF 2013 is a good opportunity for Singaporean and Vietnamese business communities to update on Vietnam macroeconomic status at present and in the future, policies to attract investments from as well as investment and trade-promoting strategies between the two countries.

 

Mr Anthony Tan

 

Deputy General Director of – Singapore Industrial Park Joint Venture Company

 

is one of the largest investors in . Currently, is expanding its investment into new areas in . The successful model of VSIP is considered the symbolic model of bilateral economic cooperation. VSIP offers investors with high-quality infrastructure in a safe and effective production environment. These are also ideal places for investors seeing as a consumption market and export destination.

 

VSIP has built five industrial parks in  Binh Duong province, Bac Ninh province,  Hai Phong City, and  Quang Ngai province, covering a total land area of over 6,000 ha, including spaces for industrial production, residence, and services. The fifth VSIP project in Quang Ngai is designed for labour-intensive consumer goods industry. This not only facilitates the economic development of Quang Ngai province but also generates tens of thousands of jobs.