Singaporean businesses seek sustainable investment in Ho Chi Minh City

Chairman Duoc shared information on Ho Chi Minh City’s spatial development plans following its ongoing merger with neighboring Binh Duong and Ba Ria–Vung Tau Provinces while receiving Consul General Pang and a delegation of Singaporean companies, Sai Gon Giai Phong (Liberated Saigon) newspaper reported.

Under the strategic functional zoning plan, Binh Duong will be developed into an industrial hub, Ba Ria-Vung Tau will become a center for coastal tourism, seaports, and clean energy, while Ho Chi Minh City will continue to serve as a financial and high-tech center, Duoc noted.

This presents an opportunity for Singaporean enterprises to expand investments and fully leverage regional linkages, the municipal chairman added.

He encouraged investors to continue expanding into industrial production, particularly renewable energy sectors such as offshore wind power in Ba Ria-Vung Tau and Can Gio District in Ho Chi Minh City.

Ho Chi Minh City is committed to facilitating a favorable environment for Singaporean businesses to grow in harmony with the city’s sustainable goals, Duoc confirmed.

Consul General Pang noted that there remains substantial room for collaboration between Singapore and Ho Chi Minh City, including in the development of an international financial center, a deep-water port in Can Gio, Industry 4.0 initiatives, education and workforce training, and food security.

Several major Singaporean enterprises also presented their investment projects and expansion plans in Ho Chi Minh City, the consul general said.

During discussions on investment and trade cooperation, both sides agreed that fields where Singapore is currently investing, such as sustainable development, urban planning, digital economy, and offshore wind power exports, still hold significant potential.

The two sides expressed their hope to deepen bilateral cooperation, especially as both nations work toward signing an action plan for implementing the comprehensive strategic partnership between Vietnam and Singapore.