Singaporean investors

We were delighted to see regular exchanges of high-level visits between Singapore and Vietnam resume in 2022. Vietnam’s President Nguyen Xuan Phuc visited Singapore in February, while Singaporean President Halimah Yacob visited Vietnam in October. Jaya Ratnam, Singaporean Ambassador to Vietnam Through government-level MoUs signed at the two state visits, Singapore and Vietnam strengthened our multi-faceted cooperation and expanded cooperation to include new areas such as digital economy, regional and global supply chain connectivity, energy, and carbon credits. These MoUs have enabled Singapore and Vietnam to seize new opportunities in the digital and green economy as the world recovers from the pandemic. Singapore and Vietnam share strong trade and investment ties. Bilateral trade has grown steadily over the past decade, reaching SGD26.9 billion ($20 billion) in 2021, an 18.7 per cent increase on-year. Singapore was also Vietnam’s second-largest cumulative foreign … [Read more...] about Much to celebrate with 50 years of Singaporean ties

In an interview with the Vietnam News Agency on the threshold of the 2023 New Year, he highlighted that Singapore has been Vietnam’s leading source of foreign investment since 2020, as evidenced by the strong investor confidence in the country’s economic prospects and potential. Despite the ongoing adverse geopolitical tensions and economic headwinds, Vietnam’s trade revenue is double its GDP, he noted. The V ietnam - Singapore Industrial Park is a cornerstone of Singapore’s economic engagement with Vietnam. They have attracted 18 billion USD in investments and created over 300,000 jobs in Vietnam, the Ambassador said. The third VSIP Binh Duong kicked off earlier this year incorporates Industry 4.0 practices and green technologies. He said that digital transformation is another promising area of cooperation. Singapore hopes to work towards fostering bilateral and regional connectivity and interoperability to support the growth of businesses and investments in … [Read more...] about Huge potential for Vietnam, Singapore to cooperate in sustainability

The RCEP accounts for over a quarter of global exports, photo Le Toan On January 2, the Regional Comprehensive Economic Partnership (RCEP) took effect for Indonesia. The preferential tariffs under the deal can now be used by the private sector who are exporting to and/or importing from Indonesia, according to the ASEAN Secretariat. In a release issued by the Indonesian Ministry of Trade, Minister Zulkifli Hasan said that the RCEP is expected to increase competitiveness and strengthen global production network, promote regional supply chain through better market access for exports of goods and services, reduce or eliminate trade barriers, and enhance transfer of technology. “The entry into force of the RCEP is timely to mark the beginning of Indonesia’s ASEAN Chairmanship in 2023. Indonesia has been the driving force in the deal since the conceptualisation phase, and we hope more milestones, such as the establishment of the RCEP Support Unit, can be achieved during Indonesia’s … [Read more...] about RCEP boosting like-minded vision among bloc members

Ho Chi Minh City expects to achieve a Gross Regional Domestic Product (GRDP) growth rate of 7.5 to eight percent in 2023, chairman of the municipal People's Committee Phan Van Mai said during a meeting with foreign diplomatic missions and organizations on Monday. In particular, the service sector will contribute over 60 percent of the city’s GRDP this year. Mai also expressed hope that the city will maintain its position as Vietnam's leading economic hub and called on foreign diplomatic agencies and organizations to continue supporting it. At the meeting, Mai said the city’s key missions in 2023 are to improve the effectiveness of public works, administrative reforms, and the investment environment, as well as to boost economic development and ensure social welfare. He thanked foreign organizations for creating opportunities for the city to attract and take advantage of international resources in its socioeconomic recovery and development after the COVID-19 pandemic, and for … [Read more...] about Ho Chi Minh City sets 2023 GRDP growth target of 7.5-8%

Addressing the meeting, Phan Van Mai, Chairman of the municipal People’s Committee, thanked participating foreign diplomatic agencies for accompanying and assisting the city’s post-pandemic recovery, opening up opportunities for the economic hub to attract and tap related international resources serving its growth and achievements. He said the city needs and wishes to receive their continued assistance in the time to come, especially in its efforts to becoming a smart city, and the region's economic, financial, commercial, scientific-technological and cultural hub. Mai pledged ensuring socio-political stability, implementing international commitments, facilitating foreign firms and investors, and creating a favorable living environment for the group. Close coordination and support between the city and diplomatic corps will be sustained to organize cultural, health, and educational exchange activities for stronger ties and mutually beneficial development, the leader affirmed. … [Read more...] about Ho Chi Minh City leaders meets diplomatic corps, foreign businesses