Vietnam is safe for investors and foreign investors feel very confidentabout investing in the country, Singaporean business executives said.
Talkingto Vietnam News – the national English language published by VietnamNews Agency - on the sidelines of the 2014 Vietnam - Singapore BusinessForum in Ho Chi Minh City on June 5, companies agreed that the protestsagainst China's illegal placement of an oil rig in the East Sea at someindustrial zones have not affected investment flows into the country.
They also hailed the Government's actions to mitigate the consequences of the riots.
TheodoreChuang, General Director of the Ascendas Protrade Singapore Tech Parkin the southern province of Binh Duong, said the Government took quickand effective steps to manage the situation and that was very important.
"Investorsare still interested in coming and the confidence is not shaken much,"he said adding foreign companies are receiving strong support from BinhDuong authorities and law enforcement authorities.
Otherexecutives concurred, saying that FDI inflows would only be affected inthe short term. In the long term, even Chinese investors want to investin the country, they said.
Benjamin Yap, senior partner at PBC Partners & THTLaw, said the protests would not cause major long-term damage.
Hesaid a client, a Chinese company, has no plans to pull out of Vietnam."If Chinese continue to invest in Vietnam, why wouldn't Singaporeancompanies?"
He said soon after the protests some companiesthought about moving to other countries but then realised thatinvestment conditions in those places, including infrastructure, are notas good as in Vietnam.
Michael Husbands, Director of HospitalityServices in Asia, said his company is investing in resorts and hotelsin the country and many of his clients are waiting to enter Vietnam.
Admittingthe riots have had an effect in the short term, he said: "Not manyinvestors want to invest right now but they will invest; they have themoney and they will come in.
"Vietnam is perfect and I thinkpeople know it too. Outside investors know that it is a good place toinvest and major projects will come in."
Neil MacGregor, ManagingDirector of Savills, said: "We believe Vietnam remains a keydestination for real estate investment in the Southeast Asia region, andwe will continue to see demand from a variety of investors from Japan,Singapore, Korea, and elsewhere."
The forum entered its secondday on June 5 with Singaporean investors being apprised aboutopportunities in banking, aquaculture, tourism and housing.
Theywill visit Binh Duong on June 6 to study the investment environment andexplore opportunities available at industrial parks.-VNA
Talkingto Vietnam News – the national English language published by VietnamNews Agency - on the sidelines of the 2014 Vietnam - Singapore BusinessForum in Ho Chi Minh City on June 5, companies agreed that the protestsagainst China's illegal placement of an oil rig in the East Sea at someindustrial zones have not affected investment flows into the country.
They also hailed the Government's actions to mitigate the consequences of the riots.
TheodoreChuang, General Director of the Ascendas Protrade Singapore Tech Parkin the southern province of Binh Duong, said the Government took quickand effective steps to manage the situation and that was very important.
"Investorsare still interested in coming and the confidence is not shaken much,"he said adding foreign companies are receiving strong support from BinhDuong authorities and law enforcement authorities.
Otherexecutives concurred, saying that FDI inflows would only be affected inthe short term. In the long term, even Chinese investors want to investin the country, they said.
Benjamin Yap, senior partner at PBC Partners & THTLaw, said the protests would not cause major long-term damage.
Hesaid a client, a Chinese company, has no plans to pull out of Vietnam."If Chinese continue to invest in Vietnam, why wouldn't Singaporeancompanies?"
He said soon after the protests some companiesthought about moving to other countries but then realised thatinvestment conditions in those places, including infrastructure, are notas good as in Vietnam.
Michael Husbands, Director of HospitalityServices in Asia, said his company is investing in resorts and hotelsin the country and many of his clients are waiting to enter Vietnam.
Admittingthe riots have had an effect in the short term, he said: "Not manyinvestors want to invest right now but they will invest; they have themoney and they will come in.
"Vietnam is perfect and I thinkpeople know it too. Outside investors know that it is a good place toinvest and major projects will come in."
Neil MacGregor, ManagingDirector of Savills, said: "We believe Vietnam remains a keydestination for real estate investment in the Southeast Asia region, andwe will continue to see demand from a variety of investors from Japan,Singapore, Korea, and elsewhere."
The forum entered its secondday on June 5 with Singaporean investors being apprised aboutopportunities in banking, aquaculture, tourism and housing.
Theywill visit Binh Duong on June 6 to study the investment environment andexplore opportunities available at industrial parks.-VNA
