Singaporean Firms See Vietnam as Attractive Destination: Official
Singaporean companies considered Vietnam as an attractive destination for its projects, particularly in the areas of health, logistics and education besides infrastructure and realty said Chiong Woan Shin, IE Singapore's regional director for Vietnam and Cambodia.
“Vietnam is more appealing to Singaporean investor for its advantages such as political stability and young, abundant and cheap labor force”, said the director.
With a long coastline, Vietnam also owns great potentials for tourism development. Singaporean firms did not miss bright opportunities in this field and they are focusing on building hotels and resorts in the country, Chiong Woan Shin added.
She noted Vietnamese businesses which remain weak at promoting trademarks and marketing activities should enhance cooperation with Singaporean partners to expand their operations in the international market.
IE Singapore opened its offices in Hanoi and Ho Chi Minh City to help boost the two-country investment ties. It has supported 18 biz delegations to seek investment opportunities in Vietnam so far this year.
In the first quarter of this year, Singapore was ranked in the top three biggest foreign investors in Vietnam with $146.7 million.
Singaporean companies invested $17.73 billion in 808 projects in Vietnam as of end-April this year, posting the 5th among foreign investors in the nation. (Vietnam Economic Times)
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