National Assembly (NA) Chairman Tran Thanh Man on December 3 received leaders of several major Singaporean corporations, as part of his official visit to the country.
National Assembly (NA) Chairman Tran Thanh Man on December 3 received leaders of several major Singaporean corporations, as part of his official visit to the country.
During his meeting with Kevin Chng, Chief Financial Officer (CFO) of Keppel – a global asset manager and operator, the Vietnamese top legislator praised the group’s effective cooperation in Vietnam, particularly in infrastructure, real estate, and renewable energy, as well as its significant contributions to the country’s urban development and its role in enhancing economic and investment relations between the two nations.
For his part, Kevin Chng highlighted that Vietnam is one of the countries where Keppel allocates a significant portion of its investment resources.
Aiming to expand its investment activities into sustainable development areas such as renewable energy and data infrastructure, the company wishes to receive more support from the Vietnamese authorities to boost the effectiveness of its capital and further contribute to the nation’s sustainable development, the CFO said.
In response, Man noted that Vietnam is becoming an attractive destination for many investors, including those in infrastructure development, adding Vietnamese companies are eager to collaborate with Singaporean enterprises like Keppel, particularly in infrastructure, industrial parks, urban development, and clean energy to meet Vietnam's sustainable development needs.
Vietnam will continue to support and facilitate the successful and effective business operations of Keppel, he affirmed.
Hosting Deputy Chief Executive Officer of Temasek International Chia Song Hwee, the top legislator welcomed and commended the group’s support for and cooperation with Vietnamese partners.
Stating Singapore has maintained its position as the second largest foreign investor in Vietnam, he described a network of 18 Vietnam – Singapore Industrial Parks (VSIPs) across 13 cities and provinces as a symbol of successful economic cooperation between the two countries.
Man expressed his hope that the corporation will continue expanding investment in Vietnam, emphasising the country’s commitment to removing roadblocks and facilitating the operation of both local and foreign firms, including Temasek.
He went on to highlight the Vietnamese National Assembly’s recent session, with significant amendments to the existing laws to complete institutions and policies to attract foreign investments.
Chia Song Hwee, for his part, expressed his gratitude for the support that Vietnam has given to Singaporean businesses. He said Temasek has funneled some 3 billion SGD (2.23 billion USD) in Vietnam, with investments spanning diverse sectors including finance, consumer goods, retail, logistics, and renewable energy.
He underlined that Vietnam’s robust economic growth coupled with its young and industrious labour force are crucial for developing the economy as well as strengthening bilateral cooperation.
Earlier on December 2, the top legislator received Founder and Managing Partner of CMIA Capital Partners (CMIA) Lee Chong Min, and Surbana Jurong CEO North Asia Lim Hong Kian.
Man welcomed the partnership between CMIA and Surbana Jurong in investing in the “Ho Chi Minh City Eco-Tech Township" project, with a total investment of 1.3 billion USD. He congratulated them on signing a memorandum of understanding with the People's Committees of Ho Chi Minh City
and Cu Chi district to develop the project.
Vietnam always values the presence and investment as well as the effectiveness of investment cooperation activities of Singaporean enterprises in Vietnam, he affirmed.
Lim Hong Kian stated that the group has always been interested in investing in Vietnam and hopes to continue receiving support and facilitation from the country.
Man affirmed that the Vietnamese National Assembly and Government will continue to improve the legal framework to create favourable conditions for foreign businesses to invest and operate in Vietnam./.
