Ho Chi Minh City is urging Singapore to contribute billions of dollars to a number of significant infrastructure projects, including highways, ring roads, and metro lines.
The Investment and Trade Promotion Center (ITPC) in Ho Chi Minh City gave investors from Singapore a preview of various planned projects and discussed the current business climate and cooperation between Vietnam and Singapore.
A data processing facility and a smart city operating centre were among the other developments.
Khoo Choon Keng, head of the Singapore Chinese Chamber of Commerce and Industry (SCCCI), said the investment environment in Ho Chi Minh City and throughout Vietnam is advantageous after the country’s post-Covid-19 reopening. He claimed to have high admiration for the Vietnamese market.
Vietnam is particularly alluring because of its over 100 million-person population as well as its young and skilled labour force, according to Keng.
With a total registered capital of almost $72 billion, Singapore placed second in January among the 140 nations and territories presently investing in Vietnam.
Singapore brings in more foreign direct investment (FDI) than any of the other 116 nations and territories in Ho Chi Minh City.
Singapore has invested more than $14 billion in over 1,677 projects in the southern hub.
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