Singapore to strengthen investment in HCMC - Singapore to strengthen investment in HCMC - Website Ho Chi Minh City
On August 13, Deputy Chairman of HCMC Tran Vinh Tuyen had a meeting with Mr. Peter Ong Boon Kwee, Chairman of International Enterprise Singapore cum senior economic advisor of Ministry of Industry and Trade of Singapore.
At the meeting, Mr. Peter Ong Boon Kwee said Singapore enterprises are now showing their interest in doing business in Vietnam, especially in HCMC. Singapore is now the third largest foreign investors in Vietnam and a leading investor in HCMC in fields of infrastructure, real estate, service, communications. He emphasized that Singapore enterprises hope to accompany and to contribute to the city’s development in fields of the city’s interest and of Singapore’s strengths such as construction of smart control centre, smart transport system, creative urban areas.
Mr. Tran Vinh Tuyen highly appreciated the well-established relations between Vietnam and Singapore. This relation has been continuously strengthened through high-profile visits of both countries’ leaders. In term of cooperation, Singapore is not only a leading trade and investment partner of Vietnam but also of HCMC. Till now, Singapore is the largest foreign investor in HCMC with over 1.100 projects worth US$ 10.6 billion.
He added that HCMC is now making efforts to build it a smart city. The city needs solutions and technology to address the issue of urban traffic congestion. Therefore, the city welcomes all Singapore investors to come and to seek cooperation opportunities to build the smart city and creative urban area in the East of HCMC.
Mr. Tuyen stressed that the city hopes to study experience of Singapore in smart city development. In addition, HCMC is now welcoming Singaporean businesses to invest in other fields such as smart control centre, simulation centre for socio-economic development strategy, waterway system, logistics, home moving projects along canals, waste water treatment.