Singaporean
businesses are interested in investing in Vietnam, said Raymond Lui, Director
of the International Enterprise Singapore (IE Singapore) Centre in Hanoi.
He said Vietnam’s orientation to the market
economy, policies and investment climate inspired confidence in foreign
investors, including Singaporeans.
Along with an increase in trade and investment
between the two countries, Singapore understands the potential business
benefits for Singaporean firms in Vietnam and is seeking opportunities for
cooperation, Lui told Vietnam News Agency ahead of the Vietnam-Singapore
business forum in Hanoi from Nov. 30-Dec. 2.
He noted that Singapore is one of Vietnam’s
major trading partners and bilateral trade has quadrupled since 2000, to reach
10.1 billion USD in 2010.
Lui highlighted greater potential for
bilateral cooperation, saying Singaporean and Vietnamese companies can
cooperate in such fields as urban solutions and infrastructure, trade and
services.
According to Lui, population is forecast to
increase significantly in Vietnam’s major cities like Hanoi, Ho Chi Minh City
and Hai Phong, leading to increased demand on water and wastewater management
solutions.
With their development experience, Singapore
companies could share and cooperate with Vietnam in these areas, he said.
In addition, Vietnam’s rapid industrialisation
continues to contribute to economic connectivity, so the linkage through
transport infrastructure will become important and Singapore firms will provide
services from making plans for the country’s transport system for construction
and management of the country’s transport projects, Lui said.
Vietnam’s trade and agricultural product
exports are a major factor in the country's economic development, he said.
Vietnamese exporters can take advantage of Singapore's position as a commercial
and financial hub in Asia.
Vietnam and Singapore should work together to
help farmers and exporters to protect their profits and manage risks relating
to price fluctuations, he suggested.
He said he hopes trade and investment between
Vietnam and Singapore will be increased through the upcoming business forum.
The Vietnamese Government has implemented
steps to promote the private sector to become involved in the economy, Lui
said, adding that this opens the door for Singaporean companies to consider
cooperative opportunities with Vietnamese partners.
VIR - VNA
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