"It Is Fantastic to Live and Work Here", Says SBAV President

 

SBAV was established about eight years ago. It is an independent, non-profit organization whose main objective is to promote business and social interests of its members through its many activities. The association promotes business relations among its members as well as relations between its members and Vietnamese enterprises and other foreign business communities.

What is your assessment of Singaporean investment in Vietnam in recent years?Singapore has been investing in Vietnam. Recently, there has been more interest and awareness of Vietnam especially after such major events as SEAGAMES (the Southeast Asian Games 22) and the PGA Golf tournament. Some notable projects to mention are the successful investment of the Asia Pacific Brewery’s US$65-million Ha Tay Brewery with the latest technology to brew Tiger, Heineken, Anchor and Bivina Beer, the Keppel Group that has increased their investment with the US$35-million Riveria Resort in Ho Chi Minh City, the Ascot’s expansion of the five-star service apartment at the West Lake, and Ciputra that will be completed into a mega township very soon.

Singapore has been very active in providing training and development of human resources in Vietnam, and social contributions such as giving scholarships for deserving Vietnamese so as they can experience education in Singapore. Technical and management skills training are now available in Hanoi and Binh Duong Province. Singapore has not only invested in business but also developed local human resources to meet the development demands of Vietnam.

Vietnam has plenty of natural resources, a consistent growth rate and a steady government that is very keen to be integrated into the regional and world economy. Its young population is keen to learn and resourceful adaptation is coupled with a high percentage of literacy. The solid leadership is continuously aiming for enhancement of the country’s infrastructure, economic policy, and improvement of business environment such as incentives to attract foreign investment, connectivity at government levels, and approval in principle.

However, investors need to adapt to comply with the local business environment, culture and language which is the norm no matter what country they invest, particularly in ones with such a dynamic environment.

Working on the strength of our countries as one team we can attract more investment. More transparency with compliance will have the advantage of best practices at all levels. All businesses including private businesses working in any company size should be given the same working visas and conveniences. These companies’ potential and opportunities create huge employment, creativity and innovations for the people. Transparency, a level playing field and better communication are beneficial to all concerned.

It is fantastic to live and work in Vietnam with a little adaptation and understanding of the local culture. People are friendly and it is very safe to move around in Hanoi. I love the four seasons in Hanoi with plenty of lakes and cafes especially during the cool seasons. People of all ages are very health conscious which is evident through their morning exercise in the early hours all over the city parks, roads or any vacant plot of land. It’s very simple and doesn’t have to be fancy. Badminton, aerobics, ball-room dancing, walking, running, or soccer anywhere is possible with a little imagination and innovation.