Singapore encourages investments in Ho Chi Minh City - Singapore encourages investments in Ho Chi Minh City - Website Ho Chi Minh City
Singapore always encourages its businesses to invest in Ho Chi Minh City, particularly in real estate and industry, former Prime Minister and Emeritus Senior Minister Goh Chok Tong said while meeting with the municipal leaders on September 25.
He told Secretary of the municipal Party Committee Le Thanh Hai that he is impressed by the strong and dynamic development of Ho Chi Minh City and believes that the city will further develop in the time to come.
The two countries should enhance cooperation in the fields of finance and aviation in the future, he said, adding that Vietnam could seek financial support from Singapore , a major finance centre in the region, to develop its industrial infrastructure.
As both sides are looking towards a new period of development, HCM City must show off itself as an attractive destination for investors through increasing investment in improving young people’s skills.
For his part, Secretary Le Thanh Hai hailed the fine development of all-round ties between Vietnam and Singapore , saying that Singapore is now one of the leading investors in the city.
Geographical proximity and sound bilateral political and economic ties are good conditions for the two sides to expand their affiliation to a broad range of fields, including trade, tourism, health, education and economy.
At his meeting earlier with Chairman of the Ho Chi Minh City People’s Committee Le Hoang Quan, Goh Chok Tong revealed that Singaporean banks are particularly interested in expanding their operations in Vietnam .
He expressed his hope that Ho Chi Minh City will assist Singaporean banks in opening its branches here.
Chairman Le Hoang Quan vowed that the city will create every condition it can for investors, including those from Singapore.
As of September, more than 500 Singaporean firms invested more than 7 billion USD in 693 projects in the city. Bilateral trade between HCM City and Singapore totaled exceeded 3 billion USD during January-August.