The annual Vietnam-Singapore Business Forum 2014 (VSBF) opened in HCM City on June 4, attracting more than a hundred representatives from the two countries’ leading businesses.

The three-day event aims to offer a platform to exchange business ideas, tackle current challenges and develop a bilateral strategic partnership.

Among participants were Singaporean giants AscendasProtrade, Mapletree, Victoria Hotels & Resorts, Keppel Land, Gold Roast, and Sagiko. Vietnam was represented by famous trademarks--Vietcombank, Thien Minh, and Dream House.

In the framework of the forum, delegates will visit a number of businesses, including Mapletree Business City, Ascendas-Protrade Singapore Tech Park, and Vietnam Singapore Industrial Park No.1 (VSIP I).

Many businesses showed their keen interest in priotized areas in the two countries’ strategic partnership - financial services, agro-forestry and fishery sectors, tourism, real estate, and the environment. Vietnam Chamber of Commerce and Industry (VCCI) Vice Chairman Doan Duy Khuong said both Vietnamese and Singaporean businesses are looking towards the establishment of an ASEAN Economic Community (AEC) in 2015.

“We hope that VSBF 2014 will help create bilateral business links and boost regional economic integration process,” he noted.

Tan Soon Kim, a senior official from International Enterprises Singapore (IE Singapore), highlighted that successful bilateral ties have offered many business cooperation opportunities for both countries.

In Asia, he said, Vietnam boasts an abundant labour force and mineral resources while Singapore’s services and expertise will help Vietnam capitalize on its advantages. Singaporean businesses will continue to play an integral part in Vietnam’s development process in the long run, he added.

By May 2014, Singapore ranked third among 101 foreign investors in Vietnam, with a total registered capital of US$30.32 billion, mostly focusing on processing and manufacturing industries, and real estate sector.

In May alone, Singapore invested in 29 projects worth more than US$363 million in Vietnam.By April 2014, Vietnam poured US$196.4 million in 53 Singapore-based projects.

(VOV)