(VOV) - Dr Admad Magrad, Vice President of the ASEAN Business Group under the Singapore Manufacturing Federation (SMF) says companies in Singapore find Vietnam a highly lucrative location to expand production activities. Speaking on the sidelines of a recent seminar “Doing Business in Vietnam”, Dr Admad said that Vietnam’s laws governing business activities have improved a lot in recent years.
Daniel Pok, Investment Promotion Manager of Sembcorp Parks, agreed that Singaporean businesses rate Vietnam as an attractive investment market. He said Sembcorp is one of Singapore’s largest investors in Vietnam, with five Vietnam-Singapore Industrial Parks located in Bac Ninh, Hai Phong, Quang Ngai and Binh Duong.
Low Beng Tin, Co-Chair of the SMF’s ASEAN Business Group said that in the long term, it is good to do business in Vietnam. He added that at present, Singaporean companies have teamed up with their Vietnamese counterparts and all these joint ventures are operating very profitably. He said the SMF will update Singaporean businesses with the latest information on investment in Vietnam and organize seminars which will serve as an information channel about investment in Vietnam.