Singaporean businesses seek investment opportunities in Hanoi (09:22 17/07/2019)

HNP - Member of the Party Central Committee, Chairman of the Hanoi People’s Committee Nguyen Duc Chung hosted the Singapore Business Federation (SBF) led by its President Teo Siong Seng on July 16. 

At the working session.

At the reception, Chairman Nguyen Duc Chung briefed the delegation about the outcomes in the city’s socio-economic development. Accordingly, Hanoi is home to more than 8 million people. Every year, the city welcomes about 24.5 million domestic and foreign visitors. Over the past ten years, Hanoi’s average gross regional domestic product (GRDP) expanded by 7.41% with per capita income of US$5,200.

Along with economic development, Hanoi has always paid special attention to social welfare policies. For the period of 2016-2020, Hanoi has focused on three breakthroughs, including infrastructure development, administrative reform and workforce training.

Regarding challenges that Hanoi has faced during its development, the Chairman said that Hanoi makes more effort to deal with concerned issues, such as water and air pollution, traffic congestion, and fire prevention and fighting.

Thus, Hanoi has always attached importance to the cooperation with foreign businesses, including those from Singapore in the above mentioned fields, he stressed.

Notably, Hanoi encourages Singaporean firms to invest in entrepreneurship ecosystem, smart city building, tourism and construction of shopping malls, he noted, and affirming that the city will create optimal conditions for them to seek investment opportunities with a series of preferential policies.

Singaporean enterprises appreciated Hanoi’s policies for sustainable development as well as investment promotion in the city.

They hoped to invest in fields of infrastructure development, logistic, transport, services, human resource training and health care.  

According to SBF President Teo Siong Seng, Singaporean businesses also want to support Hanoi’s enterprises in expanding their business activities, contributing to fostering the Vietnam-Singapore strategic partnership.

He took the occasion to invite Hanoi leader to visit to Singapore in next September when Formula 1 race (F1) is held in Singapore so as to share experiences for hosting the first-ever F1 race in Hanoi in 2020.

By Tran Huong

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