Wed, 18/07/2018 12:07 Sáng (GMT+7)

FOREIGN INVESTMENT AGENCY - MINISTRY OF PLANNING AND INVESTMENT

INVESTMENT PROMOTION CENTER FOR CENTRAL VIETNAM

Da Nang People’s Committee Chairman Huynh Duc Tho participates in Prime Minister’s delegation during his official visit to Singapore

On the occasion of 45 year establishment anniversary of the Vietnam – Singapore diplomatic relations and 5 year anniversary of strategic partnership, , Vietnamese Prime Minister Nguyen Xuan Phuc and his spouse make an official visit to Singapore at Singaporean Prime Minister Lee Hsien Loong’s invitation, and attend ASEAN’s 32nd Summit Meeting from April 25th-28th 2018. Da Nang People’s Committee Chairman Huynh Duc Tho participates in the accompanying delegation and holds some investment promotion activities in this market.

Participating in the activities of the Vietnamese Government’s delegation in Singapore, Chairman of the Da Nang People's Committee Huynh Duc Tho attended the wreath-placing ceremony at Uncle Ho statue, visited the Asian Civilizations Museum, listened to presentations by Singaporean scientists and intellectuals about the "application of 4.0 technology in building creative government", met the Vietnamese community in Singapore, and visited Food & Hotel Fair 2018...

Most importantly, on April 26th, at the Vietnam – Singapore Business Forum, witnessed by the two Government leaders and over 500 delegates representing businesses and investors of two countries, Da Nang People’s Committee Chairman Huynh Duc Tho and Singapore Manufacturing Federation President cum Sakae Corporate Advisory Board of Directors Chairman Douglas Foo exchanged the Memorandum of Understanding to deploy the cooperation agreements between Da Nang People’s Committee and Singapore Manufacturing Federation, and the Memorandum of Understanding on the principle approval for a group of Singaporean investors chaired by Sakae Corporate Advisory (including Sakae Holdings, Surbana Jurong, Fission, Centra real estate, YCH and other enterprises introduced by SMF) to support the city in studying the adjustment of Da Nang city’s master plan towards 2030, with a vision to 2050 and planning of Da Nang Bay area, study the implementation of some investment projects in short and medium term in Da Nang (Project of Da Nang Bay sea- reclamation township together with study of Da Nang seaport system development, Project of Tourism Complex at Vo Van Kiet and Vo Nguyen Giap streets, Project of Ngu Hanh Son Cultural Park, Project of Ecosystem in Dong Xanh Dong Nghe Lakes, Project of investing in construction of information infrastructure and human resource training centre in Da Nang Hi-tech Park...)The two MoUs signed at the Forum implies the specific implementation of the contents of the MoU signed by the city People’s Committee and Singapore Manufacturing Federation on November 27th 2017.

City People’s Committee Chairman Huynh Duc Tho hands over Memorandum of Understanding to Singapore Manufacturing Federation, witnessed by Prime Minister Nguyen Xuan Phuc as well as ministries and branches of Viet Nam and Singapore

 

Following the agenda, the working delegation had dialogue with 10 leading companies of Singapore which had investment in Vietnam, attended the working sessions with transnational companies headquartered in Singapore, and paid site visit to some typical construction works of Singapore, attended the opening ceremony of ASEAN’s 32nd Summit Meeting…  

The visit aims at further deepening the strategic partnership between the two countries and further expanding the areas of cooperation. Singapore is the third largest investor in Vietnam in 2017, with more than 1,800 projects totaling more than $ 43 billion. Vietnam is Singapore's 12th largest trading partner in 2017. Bilateral trade was estimated at $ 21.6 billion in 2017, up by 8.6% compared to 2016.

In Da Nang, Singapore has 24 projects with a total investment of nearly $ 830 million, accounting for more than 27% of total FDI capital in the city, focusing on such fields as trade, real estate, healthcare, information technology, beverage ... with major investors including VinaCapital, Heineken, Coca-Cola, Pengasus, VinaDas… Singapore is the potential market that the city has focused on investment promotion in the coming time.

Source Ipc.danang.gov.vn

 


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