As part of the recent visit to Singapore by Vietnamese Prime Minister Nguyen Xuan Phuc, the national leader joined over 500 representatives of large-scale businesses from the two countries for the Viet Nam-Singapore Business Forum 2018 which took place in Singapore on Thursday.

Chairman Huynh Duc Tho (first row, left) at the forum

At the event, Da Nang People’s Committee Chairman Huynh Duc Tho and President of the Singapore Manufacturing Federation (SMF) cum Founder and Chairman of Sakae Holdings, Mr Douglas Foo, entered into a cooperation agreement on deploying many strategic projects in Da Nang.

Also at the event, another agreement which allows a group of Singaporean investors to implement some key projects in Da Nang, was also signed.

The investors include Sakae Holdings, Surbana Jurong, Fission, Central Real Estate, and YCH Group. Together they will help the city to adjust its master urban plan towards 2030, with a vision to 2050. The focus will be on developing the Da Nang Bay area as an ‘Urban Area in the Sea’, and ensuring the sustainable development of the city’s port system.

Numerous large-scale projects will be also implemented, including a tourism complex project at the corner of the Vo Van Kiet and Vo Nguyen Giap streets, the Ngu Hanh Son Cultural and Historical Park, an ecosystem complex at the Dong Xanh-Dong Nghe Lake in Da Nang’s Hoa Vang District, and a project to develop information infrastructure and build a center for training human resource at the Hi-tech Park.

Da Nang is now home to a total of 24 Singapore-invested projects, worth around 830 million US$ in total, making up over 27% of the total FDI capital in the city. These projects focus on such aspects as trading, real estate, construction, education, healthcare, IT, and beverage.