Mr. Nguyen Duc Trung - Chairman of Provincial People's Committee meets with Mr. Lenon Tan - Chairman of Singapore Manufacturing Federation (SMF). Photo: Thuc Tran
Speaking at the meeting, Chairman of the Provincial People's Committee Nguyen Duc Trung emphasized that Nghe An identified partners from Singapore as very important in investment cooperation, trade and economic development activities. In recent years, the investment cooperation between Nghe An province and partners from Singapore has achieved very positive results.
In the province, there are currently 6 foreign investment projects from Singapore with a total registered capital of more than 301.68 million USD. In which, 5 projects have been put into production, promoting efficiency, especially the project of VSIP Group.
Mr. Lenon Tan - Chairman of Singapore Manufacturing Federation congratulated the successful investment results of Singaporean enterprises in Nghe An, especially the executive role of Sembcorp to bring more businesses to invest in Nghe An.
The Chairman of the Singapore Manufacturing Federation affirmed that in the coming time, the Federation will continue to accompany and coordinate closely with Nghe An province to inform members and partners, find and connect more suitable partners to Nghe An province to invest and operate effectively.
Discussing the areas that Nghe An aims to attract investment, the Chairman of the Provincial People's Committee said that the province wishes to attract investors in the fields of processing and manufacturing; green agricultural production, preservation and processing of agricultural products; Believing that with its role, the Singapore Manufacturing Federation will be able to promote businesses in these fields coming to Nghe An province to explore investment opportunities.
Mr. Nguyen Duc Trung presents a gift to Mr. Lenon Tan. Photo: Thuc Tran
Currently, Nghe An is a destination for manufacturers in the field of electronics manufacturing, providing equipment for large corporations of the world such as Apple, Samsung, Tesla, etc. Therefore, Nghe An hopes that manufacturers from Singapore will consider investment opportunities in the area, especially investing in industrial parks, including VSIP Industrial Park.
The head of the Provincial People's Committee believes that Nghe An has all the basic conditions according to the green investment criteria of Singaporean partners. Recently, Vietnam’s Prime Minister has approved the investment policy of VSIP Nghe An II project in Tho Loc Industrial Park with a scale of 500ha.
Nghe An province has discussed with Sembcorp to build this industrial park according to the new generation industrial park model with the following elements: Green - smart - energy saving - sustainable development. This will be an industrial park to attract investors according to the goals that the President of the Singapore Manufacturing Federation wants.
In the coming time, the Chairman of Nghe An People's Committee proposed the Singapore Manufacturing Federation to support the province in introducing investors to explore investment opportunities in Nghe An province. In March 2023, it is expected that Nghe An shall send a delegation to promote investment and seek cooperation opportunities with Singaporean partners. Therefore, Nghe An province asked the Singapore Manufacturing Federation to have support to organize investment promotion activities with partners in Singapore.
Chairman of the Provincial People's Committee Nguyen Duc Trung also extended an invitation to leaders of the Singapore Manufacturing Federation and its members to attend the groundbreaking ceremony of VSIP Nghe An II project and participate in the Economic Cooperation Forum between Nghe An province and partners from other countries, including Singapore.
Sincerely thanking the invitation of the Chairman of Nghe An People's Committee, Mr. Lenon Tan - Chairman of Singapore Manufacturing Federation said that he will inform his members and reply to Nghe An province as soon as possible.
According to the MoU, Nghe An and the Singapore Manufacturing Federation establish and maintain a cooperative relationship with the goal of facilitating the connection of businesses between the two sides, enhancing the attraction of investment from Singapore into Nghe An province and trade between Nghe An and Singapore on the basis of functions, duties and powers of each party, in accordance with international treaties, written agreements to which Vietnam and Singapore are contracting parties and the legal provisions of each country.
The People's Committee of Nghe An province will create conditions to support enterprises introduced by the Singapore Manufacturing Federation to explore investment, business and trade in Nghe An to carry out feasibility studies and investment projects with high added value, using modern and environmentally friendly technologies such as: Electronics; supporting industries; agricultural, forestry and fishery processing industries; the industry of manufacturing consumer products; producing medical equipment, medicinal herbs, pharmaceuticals.
The People's Committee of Nghe An province will also work closely with the Singapore Manufacturing Federation to organize visits and work of the two sides as well as seminars to promote investment and trade into Nghe An province in a thoughtful and effective way.
The Singapore Manufacturing Federation will introduce the investment environment and advantages of Nghe An province to Singaporean investors and businesses wishing to explore investment and business cooperation; create conditions for state agencies and enterprises in Nghe An province to connect and work with Singaporean state agencies and enterprises on business trips to Singapore to promote investment and trade. The Singapore Manufacturing Federation will also support Nghe An province to organize both in person and online trade and investment promotion workshops.