A forum to promote industrial investment in Viet Nam was held online on Thursday as part of the Viet Nam International Trade Fair (Vietnam Expo 2021) in Singapore.

Addressing the forum, the Director of the Trade Promotion Agency under the Ministry of Industry and Trade Do Ba Phu said he values Singaporean investors and predicted that investment from Singapore to Viet Nam will rise sharply in the future.

Singapore was the largest investor in Viet Nam last year, with nearly US$9 billion, accounting for 31.5 per cent of the country’s total foreign investment.

The city-state possesses advantages in key industries where Viet Nam is seeking investment, Phu said.

Tran Thu Quynh, Vietnamese Trade Counsellor in Singapore, briefed participants on production trends in Viet Nam and the country’s priorities in attracting investment in industries in 2021-30 and told them of free trade agreements Viet Nam has signed with foreign partners.

Douglas Foo, President of the Singapore Manufacturing Federation (SMF), who is also President of the Viet Nam- Singapore Business Council, highlighted the significance of the forum, saying Singaporean enterprises are interested in the Vietnamese market.

In the context of COVID-19, with flights yet to restart between the two countries, opportunities for links like this forum will help Singaporean firms learn more about new investment opportunities in Viet Nam, he said. — VNS