Promoting economic cooperation between Nghe An and Singapore

On the morning of July 19, Mr. Le Ngoc Hoa - Vice Chairman of the Provincial People's Committee had a meeting and worked with the working delegation of the Singapore Embassy in Hanoi led by Mr. Tan Weiming - Deputy Ambassador.

Overview of the meeting. Photo: Thanh Quynh

At the meeting and working with the delegation, on behalf of the leaders of Nghe An province, comrade Le Ngoc Hoa expressed his joy to welcome Deputy Ambassador Tan Weiming and the members of the delegation on their visit and work in Nghe An. At the same time, he affirmed that the cooperative relationship between Nghe An and Singapore has achieved many remarkable results to elevate the relationship to a strategic partnership.

The Vice Chairman of the Provincial People's Committee gave an overview of the province's socio-economic situation in recent times, and at the same time, introduced the province's potential, strengths, and economic development focus with abundant and high-quality labor resources, a developed infrastructure system, and rich resources.

Regarding investment cooperation with other countries, Nghe An province currently has two FDI projects from Singapore, including VSIP Nghe An Industrial, Urban and Service Park, invested by Vietnam - Singapore Industrial Park Joint Venture Company Limited (a joint venture between Becamex IDC Corporation and the Singaporean Investors Alliance, represented by Sembcorp Group), with a registered capital of 76.4 million USD on a total planned area of ​​1,475 hectares. Phase 1 of the project has a scale of 750 hectares, under the planning of the Southeast Economic Zone. It is expected to attract about 8 billion USD in investment capital after completion, creating jobs for about 20,000 local workers.

A corner of VSIP Nghe An Industrial, Urban and Service Park. Illustration photo: Chau Lan

In addition, Singapore-based Royal Pagoda Private Limited is investing in a textile, dyeing and garment project in VSIP Nghe An Industrial Park with a capital of 200 million USD. These are key projects of the province with the expectation of creating a major breakthrough for industrial development in Nghe An.

From the progress in the field of economic development cooperation, in the coming time, the Vice Chairman of the Provincial People's Committee hopes that Singaporean investors will continue to learn and invest in Nghe An in the fields of high technology, supporting industry and trade services, tourism, finance, banking...

In 2018, Nghe An's export turnover to Singapore reached 4.6 million USD on wood chips, silk, textile fibers, white limestone, etc.

Import turnover from Singapore reached over 35.1 million USD, mainly on petroleum products, textile and garment materials, leather and footwear, etc.

On behalf of the provincial leaders, comrade Le Ngoc Hoa presented a souvenir to Mr. Tan Weiming and the working delegation. Photo: Thanh Quynh

Speaking at the meeting, Deputy Ambassador Tan Weiming expressed his deep gratitude for the warm welcome of Nghe An province and highly appreciated the efforts of Nghe An province in the fields of cooperation between the two sides. At the same time, he thanked the provincial leaders for their constant attention and support so that Singapore's investment projects in general and VSIP Project in particular can operate more and more effectively.

For his part, the Deputy Ambassador promised to make continuous efforts to strengthen the friendship and cooperation between the people of Singapore and Vietnam in general and Singapore and Nghe An in particular.