WNAM REPORT: National Assembly (NA) Chairman Tran Thanh Man on December 2 received Lee Ark Boon, CEO of Singapore’s Sembcorp Development and Chairman of VSIP Group, as part of the top legislator’s ongoing official visit to Singapore.
The Vietnamese NA hailed Sembcorp’s investment in 18 Vietnam-Singapore Industrial Park (VSIP) projects across 13 provinces and cities, which have created jobs for over 300,000 workers in Vietnam. He described VSIP as an exemplary model of combining modern infrastructure development with effective foreign investment attraction.
Man expressed his pleasure at the strong growth of the Vietnam-Singapore strategic partnership with strengthened bilateral political trust and cooperation, particularly in economy and trade. He affirmed that Vietnam highly values the presence of Singaporean businesses and showed his hope to continue cooperating with Sembcorp Group, focusing on projects involving the development of smart, modern, and sustainable industrial park infrastructure and the implementation of clean energy projects.
For his part, Lee said that Sembcorp has been operating in Vietnam for 28 years and that VSIP has become a symbol of successful cooperation between Singapore and Vietnam.
As a firm that is active Southeast Asia, Sembcorp found that the Vietnamese Government has created favourable conditions for businesses to invest and operate in the country, said Lee. He committed to continued strong investment in VSIP and other projects in different Vietnamese localities, with a focus on green and high-tech projects. He said he hopes for further support from Vietnam, especially in developing new value chains for the group.
Welcoming Sembcorp’ss plans to expand investment and develop low-carbon and high-tech industrial park models in Vietnam, Man emphasised that this initiative aligns with Vietnam’s growth model shift toward industries with high added value and sustainability. The Vietnamese NA Chairman noted that Sembcorp’s investment expansion is in line with the priorities of both nations, pledging that Vietnam will continue removing obstacles facing foreign investors, ensuring common development and contributing to Vietnam’s economic growth.
The Vietnamese NA will give optimal legal conditions for Singaporean investors, Man said, noting that it has recently adopted several new laws and amendments related to land, real estate business, investment, finance, and budget regulations, aiming to remove bottlenecks and create a favourable environment for foreign investment attraction.
He vowed that the Vietnamese legislature will continue to accompany and back foreign investors and international groups to operate effectively and successfully in Vietnam.
