Implementing the direction of the City People's Committee in Document No. 5209/VP-TCNS dated July 29, 2024 on the Singapore Business Delegation visiting and working in the city [...]
Implementing the direction of the City People's Committee in Document No. 5209/VP-TCNS dated July 29, 2024 on the Singapore business delegation visiting and working in Hai Phong city; Implementing the 2024 Investment Promotion Program of Hai Phong city according to Decision No. 408/QD-UBND dated February 6, 2024 and the 2024 Work Plan dated February 5, 2024 of the Department of Finance, on August 1, 2024, representatives of the Department of Finance welcomed a delegation of Singaporean businesses to learn about the environment and investment opportunities in Hai Phong. This is one of the activities to promote economic and trade cooperation between the two sides. Attending the Conference were more than 40 delegates representing more than 30 Singapore and Vietnamese businesses. In particular, Singapore businesses operating in lmanufacturing, trade, service, technology and education sectors.
Overview of the working session
During the meeting, investors watched a video presentation about Hai Phong city, providing images and general information about the bustling vitality and attractive investment environment of Hai Phong city. Speaking at the meeting, representative of the Department of Finance's leaders, Mr. Bui Tien Phong, Deputy Director of the Department, provided Singaporean businesses with some basic information about the situation of attracting foreign investment capital in Hai Phong, including FDI investment from Singapore. In recent years, Hai Phong has always been among the top localities in the country in terms of attracting foreign investment capital and realized capital has reached a high rate of nearly 80% of registered capital. As of July 30, 2024, in the city there are 975 valid foreign investment projects with a total capitalRegistered investment of 30.65 billion USD by investors from 40 countries and territories.
Currently, in Hai Phong, there are 83 investment projects from Singaporean investors with a total investment capital of 3.37 billion USD, including 65 projects in industrial parks and economic zones with a total investment capital of 3.15 billion USD, 18 projects outside industrial parks and economic zones with a total investment capital of 215.07 million USD. Singapore's FDI projects in Hai Phong operate effectively. Most investment projects focus on infrastructure, real estate business, warehousing, delivery and logistics services. In 2023, Hai Phong city will receive 01 investment project in the field of education from Kinderworld International Education Group from Singapore with a total capital of 14.58 million USD; Scale more than 3 hectares and meet the learning needs of 1,500 students. Singapore businesses in Hai PhoHe has made countless contributions to the city's socio-economic development.
Singapore Business Delegation led by Ms. Amy Wee, Chief Representative of SBF in Vietnam, Myanmar, Laos, Cambodia
Representative of the Department of Finance's leaders, Mr. Bui Tien Phong affirmed that the Department of Finance will always accompany and create favorable conditions for domestic and foreign investors, including investors from Singapore, to do business smoothly and long-term in Hai Phong, in compliance with the law. Regarding the direction of cooperation in the future, Hai Phong continues to encourage Singaporean investors to invest in developing model industrial park models, especially industrial parks for supporting industry manufacturing enterprises; Strengthen cooperation, exchange experiences and focus on attracting Singaporean investors to invest in the fields of environmental protection, hospitals, schools, logistics and finance.
At the Conference, investors from Singapore highly appreciated Hai Phong's investment environment, expressed their desire to connect investments and share a number of concerns about the labor market, education and training needs for preschoolers, children and teenagers, investment conditions in a number of industries and fields such as logistics, warehousing... Representatives of the Department of Finance discussed and answered some questions from investors about the above contents.
Ms. Nguyen Thi Phuong Mai, Head of Foreign Economic Relations Department, Department of Finance discussed, answered questions and provided information to investors
Investors take advantage of the opportunity to exchange information during breaks
Also within the framework of the meeting, Singaporean businesses and Vietnamese businesses had the opportunity to connect, exchange information, and learn about cooperation and investment needs. Both domestic and foreign investors expressed their excitement when receiving information about the investment environment and business investment connections.
Deputy Director of the Department of Finance, Mr. Bui Tien Phong received a souvenir from the Singapore Business Delegation
Delegates attending the working session took souvenir photos
Procedures
