Investment promotion activities of Vinh Phuc province in Singapore

After coming Singapore, provincial delegation led by Mr. Phung Quang Hung, Deputy Secretary of Provincial Party Committee, Chairman of Vinh Phuc People’s Committee, has a meeting with Vietnam Embassy in Singapore. Working with delegation included Mr. Nguyen Tien Minh Vietnam’s Ambassador Extraordinary and Plenipotentiary in Singapore and along with Deputy Head of Mission and counsellor in charge of investment and trade, at the meeting, Mr. Phung Quang Hung would like to thank for enthusiastic support of Vietnam Embassy in introducing the investors come to learn investment environment of the province in the last time.

After the first successful workshop on Investment Promotion held in July, 2014, Vinh Phuc province has welcomed a number of potential investors from Singapore to Vinh Phuc as: Parkway Pantai Group, GS Engineering & Construction, Toll Global Logistics Limited researched on ICD project and provincial railway station. Mr. Phung Quang Hung desired Vietnam Embassy in Singapore will continue to support the activities of Vinh Phuc province’s investment promotion in the future and confirmed that Vinh Phuc considered Singapore as a traditional and potential market to perform the annual investment promotion program.

On Behalf of Vietnam Embassy in Singapore, Ambassador Nguyen Tien Minh has informed provincial delegation on the death of former Prime Minister Ly Quang Dieu on March 23^th, 2015 (Ly Quang Dieu was the first Prime Minister  of the Republic of Singapore, he assumed the position from 1959 to 1990. Although He left Prime Minister Position, he is considered one of the most influential politicians in the island nation). Ambassador confirmed, Vietnam and Singapore have very good relationships, especially the formation of strategic partnerships, with the peak of the leaders of the two countries decided to elevate relations on Strategic Partnership in September, 2013 during the visit of Prime Minister Ly Hien Long to Vietnam. About the Vietnam Embassy will always support Vinh Phuc province in activities calling for attracting investments from Singapore.

Singapore has the infrastructure and a highly Asian leading developed industry and the world, such as ports, industrial building and repair of ships, oil refining industry, processing and assembly of computer. Singapore has 12 large industrial parks, in which Jurong is largest Industrial Park. Singapore is the leading producer of computer drives electronics and semiconductor products. Singapore is also refining centre and a leading transit in Asia. Singapore’s economy is mainly based on trade and services (accounting for 40% of national income). Singapore is also considered to be a leader in the transition to a knowledge-based economy. Singapore is making plans to 2018 will transform Singapore into a leading global city, a focal point of the new network in the global economy and a diverse and dynamic business Asian economy.

Chairman of Vinh Phuc People’s Committee Phung Quang Hung – Head of investment promotion delegation spoke at the workshop. Photo: Tran Hoai Duong

On March 26^th,2015, with the support of Vietnam Embassy in Singapore, Singapore Manufacturing Federation(SMF), Vinh Phuc province has organized  a seminar on investment promotion at the SMF’s headquarter. Attending the workshop includes Ambassador Nguyen Tien Minh and Counsellors in charge of investment, trade and labour. Representatives of SMF included Mr. Sunny Koh, Deputy Chairman of SMF together with more over 60 Singapore’s enterprises. After opening speech of SMF representative and Vietnam Embassy in Singapore, Mr. Phung Quang Hung – Head of delegation had speech overview about Vinh Phuc province, advantages and potential development as well as planning of Vinh Phuc’s  industrial parks. Several of Singapore’s enterprises interested in Vinh Phuc province and asked many questions for delegation. Mr. Phung Quang Hung and representative of Industrial Zone and Management Board had provided sufficiently information concerning investment procedure of FDI project about the minimum wage level for employees, sector calling for investment, the rental land price for industrial park…..

End of the senimar, Head of delegation has profound condolences to businesses in the workshop on the great loss of the Singapore after the death of Mr. Ly Quang Dieu former – Prime Minister to went away on March 23^th,2015 recently. Mr. Chairman desired to be welcome the investors from Singapore come to learn investment environment in the soonest time in Vinh Phuc province.

In the afternoon of same day, with the support of Vietnam Embassy in Singapore, delegation had visited and worked with 02 large enterprises of Singapore operating in the logistics services…. (Keppel Logistics and Toll Company). At the meeting, Head of delegation has introduced on ICD and Railway station project in the province (this project has approval by Vinh Phuc People’s Committee in Huong Canh town and Son Loi commune of Binh Xuyen district. Located in the middle of industrial park of South of Binh Xuyen, Binh Xuyen, Son Loi, Binh Xuyen II, Ba Thien 1, Ba Thien 2, Huong Canh industrial clusters). Toll Logistics Company visited two times in Vinh Phuc to make the survey on this project. About Keppe Logistic has expressed to come to Vinh Phuc province to have practical survey on this project.

Chairman of Vinh Phuc People’s Committee Phung Quang Hung and investment promotion delegation worked with Keppel Logistics of Singapore. Photo: Tran Hoai Duong

The working with 02 Singapore’s enterprises in the Logistics services and transportation had ended the investment promotion trip in three countries (Japan – South Korea – Singapore) of Vinh Phuc province. This is the first investment promotion trip of the year 2015 of Vinh Phuc province has successfully./.