Singapore to Boost Investment into Vietnammâs Infrastructure
Singapore will prioritize investment into Vietnam’s infrastructure sector in the coming time, particularly electricity and sea ports, said the visiting Prime Minister Lee Hsien Loong during a meeting with his Vietnamese counterpart Nguyen Tan Dung on September 25.
“Singaporean investors are eager to further penetrate into Vietnam, which they see as an ideal destination for lucrative business chances with a variety of favorable conditions for economic development,” PM Lee said.
He revealed that some Singaporean companies intended to build a large-scaled multifunctional port and a warehouse in Ho Chi Minh City. He, however, did not detail the plan for the project.
“We are also planning other mammoth investments in Vietnam based on the fact that our businesses in the country have obtained remarkable achievements, thus, we will not miss out golden opportunities in Vietnam”, the PM emphasized.
He expressed great pleasure for the success of Vietnam-Singapore Industrial Park (VSIP) in Binh Duong province, which proves an outstanding evidence for a new height of economic cooperation between the two countries.
Addressing at the talk with PM Lee, Vietnam Prime Minister Nguyen Tan Dung called for Singaporean enterprises to invest in Vietnam in the areas of energy, insurance, post and telecom and others and also pledged to create best conditions for them.
In related news, the ministries of Planning and Investment of the two sides have been on the way to complete a frame agreement on economic cooperation, which is hoped to generate a new wave of Singaporean capital into Vietnam.
Singapore is now one of the top investors in Vietnam with 425 projects capitalized at $7.89 billion. Youth
Vietnamese
