58th anniversary of Singapore’s National Day celebrated in HCMC

Chairman of HCMC’s People’s Committee Phan Van Mai speaking at the event (Photo: VNA)

Speaking at the ceremony, Chairman of HCMC’s People’s Committee Phan Van Mai said that there are a lot of ample rooms for HCMC - Singapore cooperation and their partnership depends on the ability to exploit the similaries and complementary strengths.

According to him, the relationship between HCMC and Singapore is developing strongly in the fields of trade, investment, education - training and people-to-people exchange, noting that economic cooperation between the two sides is a bright spot.

He emphasized that Singapore ranks first among 120 countries and territories investing directly in the city and is the city's second largest trading partner for many years in a row. Singapore's investment projects in the city over the past time have actively contributed to HCMC’s economic growth.

HCMC expects that Singaporean investors will continue to promote investment in potential fields such as production infrastructure, transport infrastructure, logistics, health and urban development as well as green and circular economy, Mai said, adding that the cooperation and connection between Vietnam in general and HCM City in particular with Singapore will certainly be deeper and more sustainable in the future.

For his part, Singaporean Consul General in HCMC Roy Kho Ngee Seng said Singapore is the largest FDI investor in Vietnam for three consecutive years, reaching 6.46 billion USD in 2022, accounting for about 23.3% of total FDI into Vietnam.

The Consul General added that in the future, Singapore and HCMC still have a lot of potential for cooperation, explore more investment business opportunities and use the power of innovative technology to move towards sustainable growth./.