PM Nguyen Xuan Phuc (third, right) at the dialogue (Source: VNA)Singapore (VNA) – TheVietnamese Government has given a range of priorities to foreign investors todevelop production and do business in Vietnam, including those from Singapore,said Prime Minister Nguyen Xuan Phuc.
Speaking at a dialogue with 15chairpersons and CEOs of leading Singaporean groups and businesses on April 27,PM Phuc affirmed that the Government of Vietnam will assign relevant ministries,agencies and localities to coordinate with Singaporean investors to speed upthe implementation of their projects in the country.
While applauding Singaporeanenterprises which have plans to expand investment in the areas of Vietnam’spriorities, he called on the investors to carry out their projects on schedule,observe Vietnam’s laws and harmonise interests of the State, the investors andpeople.
Singapore has become Vietnam’smost important economic partner in the Association of Southeast Asian Nations(ASEAN) with more than 2,000 projects worth 43 billion USD, and two-way tradereaching 8.3 billion USD in 2017, PM Phuc said.
The government leader noted thatSingapore is also a gateway for multi-national groups and internationaltourists to enter Vietnam, and helps the country get easier access to theworld.
PM Phuc briefed the corporateleaders on Vietnam’s business environment which ranked 68th out of190 countries surveyed by the World Bank, up 30 places as compared with 2012. The country was placed 55th out of137 countries in terms of competitiveness in the rankings of the Word EconomicForum, he added.
The PM also cited a fact that 55percent of the Vietnamese population are using the Internet and nearly 50percent accessing the social network and around 130 million mobile phonesubscriptions as favourable conditions for investors.
Vietnam commits to ensuringpolitical, social and macro-economic stability, creating the most favourable businessenvironment towards standards of the Organisation for Economic Cooperation andDevelopment (OECD), reducing transactions costs, especially logistic andadministrative expenses, and building transparent macro-economic policies, PMPhuc stressed.
The Vietnamese Government alwayspays attention to policy dialogue mechanisms to clear up concerns of thebusiness community, including those from Singapore, he said.
Speaking at the dialogue, Ho MengKit, CEO of the Singapore Business Federation (SBF), called on Singaporeanbusinesses to scale up investments in Vietnam as the strategic partnershipbetween the two nations is florusing.
The participating corporateleaders highly valued outstanding achievements Vietnam has recorded in economicdevelopment, particularly the country’s innovated mindset in building andimplementing polices.
They highlighted opener and morefavourable investment procedures in Vietnam, which, they said, have help businessessave time and costs.
They told PM Phuc thatSingaporean businesses have devised strategies and stand ready to invest insuch areas as logistics, renewable energy, software industry, smart citybuilding, education-training, transportation and cruise tourism in Vietnam.
The investors committed tointroducing the world’s most advanced technologies to Vietnam through projects,thus helping generate more jobs and incomes for local people.
Earlier the same day, PM Phuc metwith Neil McGregor, CEO and President of Sembcorp Industries, one of theleading Singaporean investors in Vietnam, with nine Vietnam-SingaporeIndustrial Parks (VSIPs) in the country.
The leader lauded Sembcorp’scontributions to the friendship and cooperation between Vietnam and Singapore, andurged the group to speed up the implementation of sluggish projects in Vietnam,particularly in land clearance, while building more industrial parks in thecountry’s southern provinces and cities.
Neil McGregor said apart fromvalue chains, Sembcorp aims to develop comprehensive infrastructure and smartcities and invest in renewable energy projects in Vietnam.
Sembcorp will accompany Vietnam’s socio-economic development cause for a long term, he said, calling for more support from the PM and relevant Vietnamese agencies during the implementation of its projects.-VNA
VNA
