From 15 to 18 October 2017, the Singapore Manufacturing Federation (SMF) led a 23-member delegation from industries such as IT, F&B, Building and Construction to Vietnam to open doors to business opportunities for local enterprises. This business mission was jointly organised with the Embassy of the Socialist Republic of Vietnam in Singapore and supported by International Enterprise (IE) Singapore.
Over the course of the business mission, participants were taken to Thanh Hoa Province and Hanoi in Vietnam to gain a better understanding of the investment climate and industrial parks available in the area. Networking sessions and site visits to economic zones were also been arranged for Singapore businesses to interact and exchange contacts with Vietnamese government officials and private sector enterprises.
The business mission was held in conjunction of the Connectivity Seminar to promote investment opportunities in the Quang Tri province of Vietnam, where Mr Lim Hng Kiang, Singapore Minister for Trade and Industry (Trade) was a Guest of Honour.
A Memorandum of Understanding (MOU) was signed during the seminar between SMF and the Foreign Investment Agency under the Ministry of Planning and Investment of Vietnam (FIA). The signing of the MOU aims to promote and encourage trade and investment between businesses in both countries though better exchange of business information. SMF also signed two more MOUs over the course of the trip – one with the Vietnam Chamber of Commerce and Industry, which is a continuance of an MOU signed back in March 1992, to promote business collaboration and partnerships between Singapore and Vietnam companies for mutual benefit, and another with Vietcombank to promote banking and finances facilities for Singapore companies seeking business opportunities in Vietnam.