Viet Nam encourages investment in sustainable development: President

Promoting investment attraction, particularly in clean energy and sustainable development, is a priority of Viet Nam in the time to come, President Nguyen Xuan Phuc affirmed while receiving executives of some leading Singaporean groups on February 25 as part of his ongoing State-level visit to the nation.
President Nguyen Xuan Phuc (third, right) witnesses the exchange of cooperation agreements between Vietnamese businesses and Sembcorp Group. (Photo: VNA)
President Nguyen Xuan Phuc (third, right) witnesses the exchange of cooperation agreements between Vietnamese businesses and Sembcorp Group. (Photo: VNA)

Among those hosted by the President were leaders of the energy and urban development group Sembcorp Industries, which has implemented 10 Viet Nam-Singapore industrial park (VSIP) projects worth 15.4 billion USD in seven localities in Viet Nam.

Lauding its investment in the VSIP projects that have attracted investors and generated many jobs, Phuc hoped that Sembcorp will build similar IPs in Quang Tri and Quang Nam in central Viet Nam and further invest in its projects in Quang Ngai and Nghe An.

He asked the group to channel more capital into sectors with a high proportion of science-technology and innovation, particularly regarding green and sustainable development. Viet Nam will create the best possible conditions for Sembcorp to reap success in investment, Phuc stressed.

Lauding Viet Nam’s strong and comprehensive growth, especially in business climate improvement, and commitment to climate change adaptation, Sembcorp pledged to accompany the country in this field, particularly the development of renewable energy and sustainable industrial parks.

Receiving Loh Chin Hua, CEO of the Keppel Corporation – which delivers solutions for sustainable urbanisation, the Vietnamese President praised the group’s effective investment in Viet Nam over the past, including its cooperation with a number of Vietnamese partners like Sovico. Keppel is now operating more than 20 projects worth over 3 billion USD in Viet Nam.

He proposed the corporation invest in large scale and innovative projects in renewable and clean energy, infrastructure and smart cities.

Agreeing with the proposal, the Singaporean CEO informed that the group is implementing a number of real estate projects in Viet Nam and is aiming for a modern, smart and green city.

Phuc also met with Nina Yang, CEO of the Surbana Jurong City Global group and Lee Chong Min, the Founder and Managing Partner of CMIA Capital Partners Singapore. The two enterprises are making a 1.2 billion USD investment in a 1,000-ha multifunctional project in Ho Chi Minh City over the next decade. The project will build a high-tech agro-food-ecological urban area with a scale of people of 100,000.

The President asked the businesses to work with the authorities in Viet Nam and HCM City for support during their implementation of the project.

Hosting Chairman of the Singapore Business Federation (SBF) Lim Ming Yan, the State leader welcomed the SBF’s work to link Vietnamese and Singaporean firms, contributing to increasing the two countries’ trade to 8.5 billion USD last year.

Viet Nam encourages Singaporean businesses to invest in infrastructure, energy, manufacturing, high-quality agriculture, IT, smart cities, financial services, and banking, he said.

Emphasising that investment promotion is a priority of Viet Nam in the coming time, the President suggested that the SBF continue to be a bridge to promote Singaporean investment in Viet Nam, contributing to pushing bilateral relations to new heights.

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(Source: VNA)