Many Promising Opportunities for Singaporean Investors in Vinh Phuc Province

Deputy Secretary of the Provincial Party Committee, Chairman of Vinh Phuc Provincial People’s Committee Le Duy Thanh hosted a welcoming meeting on May 29 for the delegation of Singapore Embassy in Vietnam led by Ambassador Extraordinary and Plenipotentiary of the Republic of Singapore in Vietnam Jaya Ratnam.

Deputy Secretary of the Provincial Party Committee, Chairman of Vinh Phuc Provincial People’s Committee Le Duy Thanh (right) and Ambassador Extraordinary and Plenipotentiary of the Republic of Singapore in Vietnam Jaya Ratnam (left)

Joining the meeting were the Vice President, General Secretary of the Vietnam – Singapore Friendship Association Nguyen Duc Hung, and representatives of the Asia – Africa Department (Vietnam Union of Friendship Organizations).

Le Duy Thanh stressed that the business trip of Vinh Phuc province’s leaders to Singapore in October 2022 has opened up many cooperation opportunities between the two sides. In particular, in the field of education – training, and learning conditions, Singapore’s training program is suitable for the culture and goals of Vinh Phuc province.

Thanh hoped that Singaporean educational investors will come to Vinh Phuc, providing suitable scholarships for children of the province.

In addition, the Chairman of Vinh Phuc province proposed cooperation between higher education institutions in Singapore and universities and colleges in the province. He believed such cooperation will help with high-quality human resource training, especially in the electronics and high-tech industries.

The Vinh Phuc ICD Logistics Center project started at the end of 2021 with a total investment of nearly VND 3.900 billion, with a design capacity of about 530,000 TEUs/year. The project is implemented on a total area of ​​nearly 84 hectares in Huong Canh town and Son Loi commune, Binh Xuyen district, Vinh Phuc province. Currently, a system of modern factories and warehouses according to international standards was completed, with a system of parking lots and roads that are connected with the transport infrastructure of the province.

The provincial leader said that Singaporean investors have had 12 projects in Vinh Phuc (including 7 projects outside the industrial park and 5 projects in the industrial park) with a total investment capital of nearly USD 500 million, making Vinh Phuc an attractive destination for Singapore. Thanh mentioned the Vinh Phuc ICD Logistics Center project of YCH Group (Singapore) in cooperation with T&T Group – a symbol of the success of the mutually beneficial cooperation.

Vinh Phuc province is committed to creating the most favorable conditions for potential partners who want to research and explore investment opportunities, said Thanh.

In response, Ambassador Jaya Ratnam is highly impressed with the socio-economic development achievements of Vinh Phuc province.

After the business trip, the delegation with work with Singaporean businesses in order to connect businesses with Vinh Phuc province and to sign an agreement on cooperation and investment in some particular fields. Ambassador Jaya Ratnam invited Vinh Phuc provincial leaders to attend the Singapore business forum this July.

On the same day, the foreign delegation visited Vinh Phuc ICD Logistics Center in Binh Xuyen district and worked with Binh Xuyen District People’s Committee

On the same day, the foreign delegation visited Vinh Phuc ICD Logistics Center in Binh Xuyen district and worked with Binh Xuyen District People’s Committee. The Ambassador highly appreciated the strong support of local leaders to help speed up the progress of the Vinh Phuc ICD Logistics Center project. He affirmed that when put into operation, the project will strongly attract investment from Singapore.

According to the Vice President and General Secretary of the Vietnam – Singapore Friendship Organization Nguyen Duc Hung, education, tourism, and logistics are the three most promising areas for Singapore to invest in Vinh Phuc. There is high potential for opening a Singapore international school in Vinh Phuc, said Hung. He proposed that the province will send delegations to Singapore to promote international tourism with the support of the Vietnam – Singapore Friendship Organization Leaders of Vinh Phuc province can apply the experience of Vietnam – Singapore industrial parks (VSIP) to direct and operate the promotion of the Vinh Phuc ICD Logistics Center project, making this project the first successful example to build other dry docks.

Vietnam Times Reporters

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