Hoan delivered the remark at a ceremony to celebrate Singapore’s 57th National Day hosted by the Singaporean Consulate General in Ho Chi Minh City.
Congratulating Singapore on its National Day, Hoan said he was impressed by its robust development over nearly six decades. Singapore is now one of the world’s most developed countries and a role model with a pioneering approach – “dare to dream, look ahead and seek new solutions and opportunities.”
Built on the foundation of the flourishing relations between the two countries, Ho Chi Minh City-Singapore ties have produced good results, he said, noting that because of geographical proximity and cultural similarities, Ho Chi Minh City and Singapore boast great potential to supplement each other in various fields.
According to the official, Singapore has been Ho Chi Minh City’s largest investor and second biggest trade partner for years. Since 1988, Singapore has operated nearly 1,490 projects, worth about 11.9 billion USD, in the Vietnamese southern economic hub. Last year, the bilateral trade reached close to 8 billion USD despite impacts from the COVID-19 pandemic.
The two sides have maintained close cooperation in multiple areas, including education, public personnel training, urban planning, tourism and cultural exchange, he said.
Singaporean Consul General in Ho Chi Minh City Roy Kho Ngee Seng, for his part, said Vietnam-Singapore relations have always been growing strongly in all fields, from politics and economy to culture, national defence and education.
He added that as Vietnam’s biggest FDI source over the past two years, Singapore poured more than 4.1 billion USD into Vietnam in the first half of 2022, accounting for 29.5% of Vietnam’s total FDI in the period. The figure is likely to rise further, he said.
The diplomat further noted that Ho Chi Minh City remains a promising destination for Singaporean enterprises which are looking to expand business in Vietnam. Singapore has invested in 70 projects with registered capital of 116 million USD in Ho Chi Minh City in the first seven months of the year and registered to add 1.14 billion USD to operational projects, making up 80% of the added FDI into the hub.
He said that Singapore has effectively cooperated with Ho Chi Minh City and southern localities in accelerating digital and green economy, expecting that the two sides’ partnership in digital economy and climate change response will bring more development opportunities for their business communities and people.