As part of his ongoing State visit to Singapore from 28 - 30 August, Vietnamese President Tran Dai Quang met with Mr Tang Kin Fei, President cum CEO of Sembcorp Industries.  Also present at the meeting was the Secretary of the Da Nang Party Committee, Mr Nguyen Xuan Anh.

Secretary Anh (right) meeting with leaders of Sembcorp Industries

President Tang said that this year marks 20 years since his group invested in Viet Nam for the first time with a project in Binh Duong Province.  Since then, Sembcorp Industries has jointly cooperated with Viet Nam’s Becamex Investment and Industrial Development Corporation, and Japan’s Mitsubishi Corporation, to develop 7 Viet Nam-Singapore Industrial Parks (VSIPs) across Viet Nam. 

He remarked that the 7 VSIPs, covering a total area of 6,150ha, have so far attracted over 800 domestic and foreign investors, with a total investment of more than 8 billion USD.  This has helped to create jobs for over 155,000 local people.  He also showed his keen interest in investing in such aspects as energy and hi-tech urban development in Viet Nam in the future.

In reply, President Quang highly applauded Sembcorp for its remarkable achievements over recent years, and its great efforts in promoting his country’s industrialisation process.  He also took the opportunity to encourage the Singaporean group to continue maintaining the effective operation of its projects in Viet Nam, and invest in new high added-value aspects to promote his country’s economic development.

Also at the meeting, Mr Quang introduced Da Nang to Singaporean investors, outlining its high-quality human resources, transparent investment environment, and environmentally-friendly industrial development orientations.  The Vietnamese State leader said he would like Sembcorp Industries to consider Da Nang as a potential future location for Singaporean businesses.

Secretary Anh took the opportunity to introduce Da Nang’s attractive investment opportunities to Mr Tang and other leaders of Sembcorp Industries.

Mr Tang said that he had visited the seaside city several years ago and he was very impressed with the city’s rapid progress.  He remarked that he would visit the city again soon in order to learn about the city’s investment climate.