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Siu Singaporean businesses turn attention to VietnamLin Leow, Singapore’s Consul General to HCM City, has said Vietnam is now the most attractive destination for her country’s intrepid investors.

Siu made her remark at an August 1 meeting in HCM City honouring 40 years of Vietnam-Singapore diplomatic relations and the 48th anniversary of Singapore’s National Day.

Singaporean companies have invested their hopes as well as their resources in their Vietnam-based operations, she said.

Siu expressed pride in the current state of the two countries’ relations, with significant bilateral achievements recorded in economics, education, health care, culture, and national defence.

The strength of the political links between Vietnam and Singapore are a firm foundation for future expansions of economic interconnection, she stated.

Recent statistics reveal Singapore has invested in 1,100 projects in Vietnam, totalling almost US$25 billion in registered capital, making it the fourth largest foreign investor in the country.

HCM City People’s Committee Vice Chairman Le Manh Ha said the more than 500 Singaporean businesses calling the city home testify to health of the two countries’ economic cooperation.

Singapore became HCM City’s second largest trade partner in 2012, their US$6.09 billion in two-way trade turnover accounting for 60% of the total Vietnam-Singapore trade revenue.

(VOV)

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