Vietnam welcomes Singaporean investors, says PM
The government of Vietnam creates the best possible conditions for foreign businesses, including those from Singapore, to undertake their investment plans in Vietnam, Prime Minister Pham Minh Chinh assured Singapore executives at meetings on February 10.
Meeting with Tow Heng Tan, deputy chairman, non-executive & non-independent director at Sembcorp Industries, Chinh, who was on a Singaporean visit, welcomed Sembcorp’s investment plans in Vietnam, including the efficient operation of the partnership between the Singaporean group and Bexamex group of Vietnam in developing the Vietnam – Singapore Industrial Parks (VSIP) in the country.
Sembcorp has teamed up with the Vietnamese partner to establish VSIPs in seven Vietnamese localities and it plans to set up the similar model in Nghe An and Lang Son provinces, as well as to undertake off-shore wind farms in Vietnam to export energy to Singapore.
Chinh said he would assign relevant ministries, agencies and localities to collaborate with Sembcorp to make necessary procedures for those projects to take shape soon.
The same day, PM Pham Minh Chinh received Lee Chong Min, founder and managing partner of CMIA Capital Partners Singapore, and Nina Yang, CEO of Surbana Jurong Private Limited.
Lee recalled in April 2022, CMIA signed an MoU with the Ho Chi Minh City administration and its Cu Chi administration to develop the Ho Chi Minh City high-tech agro-ecological urban area. CMIA and Surbana Jurong were proposed as the investor and management unit of the project. Lee proposed that the Vietnamese Government swiftly approve the project so that it can be implemented soon.
PM Chinh welcomed the two firms’ idea as it will regenerate Cu Chi and the local area if the project is undertaken. He said that he would ask Ho Chi Minh City to complete a master planning on Cu Chi, as well as proposing that CMIA engage in and give advice on planning to promote development opportunities for Cu Chi and neighbouring localities in the future.
He added that he would assign relevant ministries, agencies, and localities to support investors in project implementation, including necessary administrative procedures.
