(MPI) - Director of the Foreign Investment Agency, Ministry of Planning and Investment Do Nhat Hoang had a working session with Chief Executive Officer of Enterprise Singapore Lee Chuan Teck in Hanoi on October 17.

At the meeting. Photo: MPI

At the meeting, the two sides focused their discussion on cooperation orientations and priorities on attracting foreign investment of Vietnam, as well as addressed attractive sectors and fields of Singaporean companies. They also agreed to promote investment to further deepen the bilateral economic cooperation between the two countries.

MPI’s FIA Director Do Nhat Hoang said Enterprise Singapore has served as an important bridge in promoting partnership between the Government and business communities of the two countries. He hailed that Singapore has continuously invested in Vietnam in the areas of the country’s demands.

Sharing about Vietnam’s orientation of investment attraction, Hoang said that Vietnam aims to attract investment selectively and prioritises in selected areas related to science and technology, innovation, semiconductor chips, digital transformation, research and development (R&D), green, digital, circular and knowledge economy, and high-quality workforces.

Vietnam focuses on developing such industries as semiconductor chips, renewable energy, green hydrogen, high-tech agriculture, R&D activities, innovation and establishment of international financial centre. These are the areas that catch up with the world’s trends with high-added value, he said, adding that the country also pays attention to health care, smart cities, and high-tech logistics.

In reply, Tech expressed his hope that there will be more projects implemented to bring mutual benefits for the two businesses. He looked forward to receive continued companionship and support of the MPI and relevant ministries in creating favorable conditions for Singapore businesses to invest and operate effectively and sustainably for a long term in Vietnam, contributing to promoting the strategic partnership between Vietnam and Singapore.

Singapore invested with nearly 3,400 valid projects in Vietnam so far with an investment capital of approximately 73 billion USD in validity, ranking second among the 144 countries and territories investing in Vietnam. Meanwhile, Vietnamese is running 157 projects in Singapore with a total registered investment capital of nearly 700 million USD, ranking 10th among the 80 countries and territories recording Vietnamese investment./.

Bao Linh

Ministry of Planning and Investment