Vietnam, especially Ho Chi Minh City, is a leading investment destination for Singaporean businesses.
Singapore’s Consul General in Ho Chi Minh City Leow Siu Lin revealedthe news during a ceremony held in the city on August 1 to mark the 40th anniversary of diplomatic ties between the two countries.
This shows Singaporean companies’ confidence in the potential of Vietnam’s economy, said Leow Siu Lin.
According to the Consul General, bilateral relations between the twonations over the past 40 years have seen great developments in thefields of economics, politics, defence, education, health and culture.
Both countries are moving towards closer cooperation in thefuture, as Singapore is now one of Vietnam’s biggest investors and tradepartners.
According to statistics, Singapore’s directinvestment in Vietnam has increased steadily in industry, services,infrastructure development, construction and property in recent time.
Singapore has so far invested almost 25 billion USD in Vietnamin nearly 1,100 projects, ranking fourth among nations and territoriesinvesting in the country.
Le Manh Ha, Vice Chairman of themunicipal People’s Committee, said Ho Chi Minh City leads the way inVietnam’s cooperation with Singapore thanks to close geographicaldistance and cultural similarities.
The presence of over 500Singaporean enterprises along with outstanding projects in the cityillustrates the increasing economic cooperation between the locality andSingapore, Ha stressed.
In 2002, Singapore was thecity’s second largest trade partner, with two-way trade reaching almost6.1 billion USD, accounting for 60 percent of the total turnover betweenthe two countries.
By June this year, Singapore was biggestforeign investor in Ho Chi Minh City, with a total registered capitalof nearly 6 billion USD.
Along with economic cooperation,relations between Singapore and Ho Chi Minh City in other fields such aseducation, human resources development, urban management and trafficarealso developing strongly.-VNA
Singapore’s Consul General in Ho Chi Minh City Leow Siu Lin revealedthe news during a ceremony held in the city on August 1 to mark the 40th anniversary of diplomatic ties between the two countries.
This shows Singaporean companies’ confidence in the potential of Vietnam’s economy, said Leow Siu Lin.
According to the Consul General, bilateral relations between the twonations over the past 40 years have seen great developments in thefields of economics, politics, defence, education, health and culture.
Both countries are moving towards closer cooperation in thefuture, as Singapore is now one of Vietnam’s biggest investors and tradepartners.
According to statistics, Singapore’s directinvestment in Vietnam has increased steadily in industry, services,infrastructure development, construction and property in recent time.
Singapore has so far invested almost 25 billion USD in Vietnamin nearly 1,100 projects, ranking fourth among nations and territoriesinvesting in the country.
Le Manh Ha, Vice Chairman of themunicipal People’s Committee, said Ho Chi Minh City leads the way inVietnam’s cooperation with Singapore thanks to close geographicaldistance and cultural similarities.
The presence of over 500Singaporean enterprises along with outstanding projects in the cityillustrates the increasing economic cooperation between the locality andSingapore, Ha stressed.
In 2002, Singapore was thecity’s second largest trade partner, with two-way trade reaching almost6.1 billion USD, accounting for 60 percent of the total turnover betweenthe two countries.
By June this year, Singapore was biggestforeign investor in Ho Chi Minh City, with a total registered capitalof nearly 6 billion USD.
Along with economic cooperation,relations between Singapore and Ho Chi Minh City in other fields such aseducation, human resources development, urban management and trafficarealso developing strongly.-VNA
