Receiving Tow Heng Tan, Deputy Chairman, Non-executive and Non-independent Director Sembcorp Industries, which specialises in providing energy transition and urban development solutions, Chinh hailed the firm’s effective cooperation with Becamex of Vietnam to develop industrial parks (IPs) to international standards in Vietnam.
The Vietnamese Government leader suggested that Sembcorp continue to expand investment in IPs in more localities in Vietnam, while considering the construction of exclusive zones for investors in the field of digital economy and high-tech application.
Tow said that his company is working with Vietnamese partners to form the Vietnam-Singapore Industrial Park (VSIP) Company to build 10 VSIPs in seven localities of Vietnam. He said that the firm hopes to cooperate closely with Vietnam to launch more VSIPs in Lang Son and Nghe An provinces and implement offshore power projects for exporting to Singapore.
PM Chinh pledged that the Vietnamese Government will support and create optimal conditions for Sembcorp to operate in Vietnam.
Following the meeting, he witnessed the exchange of cooperation agreement between PetroVietnam Technical Services Corporation (PTSC) and Sembcorp Utilities in jointly developing offshore wind power projects to export to Singapore.
At a meeting with Lee Chong Min, Founder and Managing Partner of CMIA Capital Partners Singapore, and Nina Yang, CEO of Surbana Jurong (SJ), PM Chinh said that leaders of Vietnam and Singapore encourage the strengthening of cooperation in connecting the two economies on the digital platform with high technology investment and transfer, and green growth.
Lee said that in April 2022, the CMIA signed a memorandum of understanding with the People's Committee of Ho Chi Minh City and the People's Committee of the city’s Cu Chi district to develop a high-tech agricultural ecological urban area in the city. The CMIA is proposed to be the investor and the SJ will be the master planning designer and management unit of the project.
He said the CMIA hopes that Vietnam will promptly approve the adjustment of planning and the investment policy of the project, while allowing the CMIA to be its investor and developer.
The PM welcomed the initiative of CMIA and SJ to develop the project in Cu Chi district of HCM City.
He said that the Vietnamese Government has directed the building of transportation projects to connect Cu Chi, HCM City and nearby Binh Duong province to boost the district’s growth. He asked for the CMIA’s engagement in and consultation to the building of the project to optimise the potential and advantages of the district and the region. The Vietnamese side will assist investors during the implementation of the project, he vowed.
Meeting Dilhan Pillay Sandrasegara, CEO of Temasek Holdings which poured over 1 billion USD of direct investment in Vietnam in the 2024-2021 period, and the owner of many major companies of Vietnam such as VNG, Scommerce, Golden Gate and Vietcombank, PM Chinh praised Temasek’s cooperation with and support to Vietnamese partners, especially start-ups, over the past nearly 20 years.
He proposed that the firm expand its investment in Vietnam in the fields of infrastructure (hard and soft), green transformation, circular economy, innovation, chip production, and the building of the innovation centre in HCM City, while continuing to actively contribute to the sustainable socio-economic development of Vietnam.
PM Chinh also suggested that Temasek, with a large network of international partners and customers, will serve as a bridge to bring foreign investors to Vietnam in the coming time. The Vietnamese government is committed to accompanying with and creating favourable conditions for the firm to invest and operate business effectively and successfully in Vietnam, he said.
During a meeting with Wee Ee Cheong, CEO of United Overseas Bank Search (UOB), one of the largest banks in Asia that is operating UOB Vietnam Ltd., PM Chinh said that Vietnam prioritises green and sustainable financial development, especially the green bond market, in order to support the implementation of Vietnam's National Strategy on Green Growth for the 2021-2030 period. This is an important investment attraction channel for investors interested in sustainable development, green and renewable energy projects, he said.
The Vietnamese Government leader asked UOB to introduce and propose potential investors who its are partners and members to invest in Vietnam, while continuing connecting more Singaporean firms with Vietnam in the coming time.
Lauding UOB's commitments, efforts and engagement in the Vietnamese financial market, the PM asked UOB to share experiences with Vietnamese partners and get involved in the building of an international financial centre in HCM City.
The same day, PM Chinh also received Loh Chin Hua, CEO of Keppel Corporation which has operated 22 projects worth over 3.6 billion USD in Vietnam. He welcomed and encouraged Keppel to expand investment in the fields of green economy, circular economy, renewable energy, green infrastructure, information technology, smart city, health care, and education in Vietnam. The leader suggested that the firm invest in strategic infrastructure development in Vietnam, especially social housing, housing for workers, and infrastructure of industrial parks.
PM Chinh pledged that Vietnam will accompany with and provide optimal conditions for the firm to operate in Vietnam.
