Manufacturing electrical appliances at Panasonic Life Solutions Vietnam Co., Ltd., in the Vietnam - Singapore Industrial Park (VSIP) in Tan Uyen, Binh Duong province (Photo: VNA)Investment from Singapore into Vietnam has recorded remarkable growth, hitting 73.453billion USD with 3,273 valid projects, surging by 67% in five years. Notably,since 2020, Singapore has always been the largest foreign investor in Vietnam.
Vietnam isseen as one of the top priority markets for Singaporean investors because of itspotential for strong growth in the fields of digitalisation and renewableenergy.
According to Cindy Lim, CEO of Kepple Infrastructure HoldingsPte Ltd, Vietnam and Singapore have strong connections, including data and air connections.
She also underlined the necessity for the two sides to expandenergy connectivity, such as unlocking the potential of electricity export orconnecting the regional power grid, saying that this will help accelerate the renewableenergy development progress in ASEAN.
According to Lim, the Vietnamese Government has announced National Power DevelopmentPlan VIII which guides the development of power plants andpower grids between 2021 and 2030, with a vision until 2050. This is the righttime for investors to participate in the energy transformation in the country.
Limemphasised that Kepple Infrastructure Holdings isready to double its investment in renewable energy development in Vietnam inthe coming time.
Meanwhile, Ronald Tay, CEO of CapitaLandDevelopment in Vietnam, said that Vietnam is an important market for many Singaporean companiesas it is one of the markets of long-term potential.
He expressed his hope that Singaporean businesses willcontinue to receive strong support from the Vietnamese Government and relevantagencies.
What foreign investors are looking for is a level playingfield, so Vietnam needs to maintain an open and transparent policy,thus promoting the long-term development of its economy, he stressed./.
VNA
