Vietnam’s Tô Lâm Strengthens Business Ties with Singaporean Enterprises
Singapore, The Gulf Observer: General Secretary of the Communist Party of Vietnam Central Committee, Tô Lâm, hosted receptions for representatives of leading enterprises in Singapore on Tuesday as part of his official visit to the city-state.
During a meeting with Lim Ming Yan, Chairman of the Singapore Business Federation (SBF), Lâm acknowledged SBF’s vital role in connecting Singaporean businesses with investment opportunities in Vietnam. He commended Singapore’s four major business groups for their contributions to foreign direct investment (FDI) and emphasized the need for stronger collaboration, particularly for small and medium enterprises. The Vietnamese leader encouraged SBF to continue working closely with Vietnamese ministries and local authorities to enhance business connectivity and cooperation.
Lâm reaffirmed the strong and growing Vietnam-Singapore strategic partnership, which spans multiple sectors, including politics, economics, and cultural exchanges. He underscored the importance of cooperation in key investment areas such as the digital economy, knowledge economy, circular economy, renewable energy, sustainable industrial zones, and green finance.
In a meeting with Trần Thị Lâm, advisor to Shangri-La Healthcare Investment and co-founder of Hoa Lâm Shangri-La Medical Co. Ltd., Lâm praised the company’s nearly two-decade-long contributions to Vietnam’s healthcare sector. Recognizing healthcare as a priority in Vietnam’s socio-economic strategy, he encouraged continued investment in medical technology, high-tech medical zones, and quality healthcare services.
While meeting with Lim Boon Heng, Chairman of Temasek Holdings, Lâm reiterated Vietnam’s commitment to achieving an 8% or higher growth rate this year, setting the foundation for double-digit growth in the future. He emphasized the importance of large-scale FDI projects in driving economic progress and pledged support for Temasek’s business expansion in Vietnam. Lim expressed strong interest in deepening cooperation in renewable and green energy sectors.
Lâm also met with Tow Heng Tan, Chairman of Sembcorp Industries, where he lauded the Vietnam-Singapore Industrial Park (VSIP) model as a symbol of economic collaboration between the two nations. Highlighting Vietnam’s commitment to accelerating renewable energy adoption, Lâm invited foreign enterprises, including Sembcorp, to invest in Vietnam’s power sector. In response, Tow proposed a pilot policy for VSIP and reaffirmed Sembcorp’s interest in expanding investments in renewable energy and offshore wind projects.
During discussions with Louis Lim, CEO of the Real Estate Division at Keppel Corporation, Lâm praised the company’s longstanding presence in Vietnam and urged further investment in strategic infrastructure, including social and worker housing, green infrastructure, and smart city projects. Lim reaffirmed Keppel’s commitment to Vietnam and its plans for long-term investment in the country.
General Secretary Lâm’s visit underscores Vietnam’s proactive approach in fostering economic cooperation with Singapore, solidifying their strategic partnership, and enhancing bilateral business and investment opportunities.
