The Conference was attended by various dignitaries and business representatives. These included Vice Chairman of the City People's Council Pham Qui Tien, Vice Chairman of the City People's Committee Nguyen Manh Quyen, the Vietnamese trade counselor in Singapore, a representative of the Vietnam Chamber of Commerce and Industry, and approximately 200 Hanoi-based enterprises.
These enterprises are involved in industrial production, electronics, information technology, agriculture and food, textiles, banking, finance, real estate, logistics, pharmaceuticals, and other sectors.
During the Conference, representatives from the Hanoi Department of Industry and Trade, the Vietnam Trade Office in Singapore, the Singapore-Chinese Chamber of Commerce and Industry, and the Vietnam Chamber of Commerce and Industry discussed their potentials, strengths, mechanisms, and policies for attracting foreign investment to Hanoi and the potential of the Singapore market. They also explored opportunities to connect and promote investment in industry, commerce, and services to localities in Vietnam.
The event was a key activity in the Singapore-Chinese Chamber of Commerce and Industry's working trip to Vietnam from March 6 to 10. The Singapore-Chinese Chamber of Commerce and Industry, comprising approximately 5,000 member companies, associations, and enterprises across diverse industries, aimed to stay updated on the latest developments in Vietnam's economy, explore investment prospects, identify sources for Vietnamese goods, foster trade connections, and stimulate investments in industry, commerce, and services across various localities in the country.
Speaking at the Conference, Vice Chairman of the City People's Committee Nguyen Manh Quyen highlighted Hanoi's favorable investment environment and prioritization of quality projects and products with added value and high competitiveness. The city also focuses on urban infrastructure development, smart city construction, and supporting industries using modern and environmentally friendly technologies. Hanoi has identified markets and key countries to attract investment such as Japan, South Korea, Singapore, Taiwan (China), US, and EU.
According to Quyen, Hanoi has implemented various policies and mechanisms to attract foreign investment, such as improving infrastructure in industrial parks, simplifying administrative procedures, and utilizing information technology to facilitate business registration, investment registration, tax, insurance, and land management.
The Vice Chairman emphasized that Hanoi is willing to provide favorable conditions for potential foreign investors to do business in the city. Singapore is a crucial export market for Vietnam, with export turnover of $615 million in 2022, accounting for 3.6% of Hanoi's total export turnover.
Hanoi hopes to attract Singaporean businesses to invest in the city and seek sources of goods for import through this conference. Additionally, Hanoi expects local businesses to collaborate with Singaporean enterprises in technological innovation, equipment investment, and environmentally friendly products. By participating in production, supply, and distribution chains, both sides can expand exports and take advantage of trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Regional Comprehensive Economic Partnership (RCEP), of which Vietnam and Singapore are both members.
