On Monday, a total of 100 businesspeople and managers from both home and abroad attended the Overseas Market Workshop – Infrastructure and Construction Sector.

A view of modern Da Nang

The event was jointly organised by the Singapore Business Federation (SBF), the Pegasus Education Group, and the municipal Investment Promotion Agency.

The intention was to provide Singaporean investors with an overview of the investment environment in Viet Nam, the current development of infrastructure and the construction of big projects in Da Nang, as well as opportunities to exchange knowledge and actual experiences with Vietnamese experts.

The participating Singaporean companies also may consider partnering the city’s operators via a joint venture to take on projects.

Since Singapore and Viet Nam established diplomatic ties in 1973 and issued a joint statement establishing the bilateral strategic partnership in 2013, the city-state is now one of the top ten trade partners and the third biggest investor in Viet Nam with a total of more than 2,000 projects.

To date, Singaporean businesses have poured investment in 48 out of the 63 cities and provinces in Viet Nam.

Given Viet Nam’s attractive investment incentives, there has been an upward trend in the number of Singaporean investors in Viet Nam in such aspects as infrastructure, urban solutions, science and technology, high technology, smart city model, and digital infrastructure and economy.

During their stay in Da Nang for the attendance at the workshop, the 10 participating Singaporean investors who get involved in finance, banking, construction materials supplies, architectural designing, and industrial civil construction, took the initiative to seek cooperation opportunities with their Vietnamese partners.

Also at the workshop, speakers effectively briefed the participants on Viet Nam’s economic overview and its tax policies and the latest trends in using construction materials. In addition, the application of Building Information Modeling (BIM) was presented at the event.

BIM is an intelligent 3D model-based process that gives architecture, engineering, and construction (AEC) professionals the insight and tools to more efficiently plan, design, construct, and manage buildings and infrastructure.