VINH PHUC STRENGTHENING INVESTMENT ATTRACTION FROM SINGAPORE

Implementing the investment promotion program in 2022, within the framework of the business trip to Singapore and Malaysia, on the morning of October 25, with the chairmanship of the Chairman of the Provincial People's Committee Le Duy Thanh, the Vinh Phuc delegation held a conference to promote investment in Singapore.

Attending the conference were the Vietnamese Ambassador to Singapore Mai Phuoc Dung and 160 enterprises including foreign investment funds, leading banks, and financial groups in Singapore.

At the conference, Chairman of the Provincial People's Committee Le Duy Thanh introduced to potential Singaporean investors and investment opportunities in Vinh Phuc. Within the framework of the conference, there was a direct policy dialogue session between foreign investors, the largest legal consulting firms in Singapore and Vietnam, and leaders of Vinh Phuc province; program to work with legal consulting firms of Singapore to connect, cooperate, support businesses with investment and legal procedures; working with partners that have signed a cooperation agreement with Vinh Phuc to introduce and promote the province's investment environment in Singapore.

Chairman of the Provincial People's Committee Le Duy Thanh and the Delegation also met and worked with the Vietnamese Ambassador in Singapore, discussing Singapore's investment attraction orientation and Vinh Phuc province's investment attraction orientation to promote investment. The Embassy coordinates support.

At the working session, the Vietnamese Ambassador to Singapore Mai Phuoc Dung shared the results of the State visit to Vietnam from October 16 to 20, 2022 of the President of the Republic of Singapore Halimah Yacob, and his husband. The Ambassador said that by the end of September 2022, Singapore had more than 3,000 investment projects in Vietnam, and bilateral trade between the two countries as of September 2022 reached over 7 billion USD.

The Ambassador expressed his delight at the new investment promotion organization of Vinh Phuc province this time with the number and potential of businesses attending, especially, the cooperation with organizations and legal consultancy units. Management has helped businesses exchange, share information, connect trade and find solutions to problems in the process of implementing cooperation between businesses and Vinh Phuc province.

According to statistics of the Foreign Investment Agency, as of September 2022, Singapore is the second country among 139 countries and territories investing in Vietnam, with a registered capital of over 70 billion USD. Vinh Phuc province has 12 Singaporean investment projects with a total capital of nearly 500 million USD. In particular, the ICD Logistics Center project of YCH Singapore Group and T&T Group of Vietnam has become a successful symbol of the mutually beneficial cooperation between the two countries. In addition, hundreds of Vinh Phuc officials, students, and students trained in Singapore have been contributing to the development of Vinh Phuc province as well as the Vietnam - Singapore strategic partnership.

Source: VCCI