The Hanoitimes - The presence of over 110 small- and medium-sized enterprises of Vietnam at a recent conference in Singapore shows the businesses’ dynamism to look for business and investment opportunities in foreign markets, Vietnamese Ambassador to Singapore Nguyen Tien Minh highlighted.
More than 110 small-and medium-sized enterprises (SMEs) of Vietnam participated in a conference in Singapore on March 10 to seek trade and investment partnership.
The attending of businesses benefited from an initiative jointly made by the Vietnam-Singapore Friendship Association, the Vietnamese Embassy in Singapore and the Vietnamese Entrepreneurs’ Club under the Vietnamese Association of SMEs.
Addressing the conference, Vietnamese Ambassador to Singapore Nguyen Tien Minh highlighted the significance the event and the participation of Vietnam’s SMEs at the event, adding this shows the businesses’ dynamism to look for business and investment opportunities in foreign markets.
Through Singapore, Vietnamese enterprises can make inroads into other markets in the region and the world, especially Europe – the important trade partner of both Vietnam and Singapore, the diplomat noted.
Thian Tai Chew from the Singapore Business Federation (SBF) said many of the SBF’s 24,000 members, mostly SMEs, are keen on Vietnam’s food, retail, e-commerce, supply chain, and infrastructure and urban development.
At the Vietnam-Singapore Industrial Park in Bac Ninh province.
These sectors are Singaporean SMEs’ strengths and they want to share experience with Vietnamese partners, he said.
He told that the SBF’s latest survey that says Vietnam ranks third among ASEAN member nations that Singaporean firms want to invest in.
The Vietnam-Singapore relations have seen strong developments in recent years in various fields such as economy, defence, education-training, and people-to-people exchange.
Singapore is Vietnam’s third biggest foreign investor, with a total investment of over 38 billion USD poured into 1,600 projects in terms of processing, technology, production, real estate, construction, transport and logistics.
The country is also the 12th biggest trade partner of Vietnam, with two-way trade doubling in the last decade, hitting nearly 16 billion USD in 2016.
Recent high-level visits of leaders of Vietnam and Singapore helped lift the bilateral ties, promising to open many new opportunities for the two sides’ enterprises to foster trade and investment links.
The upcoming visit to Vietnam by Singaporean Prime Minister Lee Hsien Loong in late March is expected to foster multifaceted ties between the two countries, especially in people-to-people exchange.
Translated by Thu Minh