"I think that the visit of the State President Tran Dai Quang is significant. First, this shows that Vietnam highly appreciates the importance and status of Singapore in the region. It is because it is one of the countries that the state president visits after taking office. Second, both countries have just finished their general elections while giving new plans for nation’s development. Thus, this meeting affords both countries an opportunity to exchange ideas and deepen our strategic relations.
Singapore is an island nation. Its domestic market is small and was already saturated. So Singapore has high demand in expanding trade and investment overseas. Singaporean enterprises especially pay attention to the Vietnamese market as Vietnam as the two economies are complementary in many respects. Specifically, Singapore has capital while Vietnam has ample resources and a large market. According to the latest data, Singapore ranked third among foreign investors in Vietnam, with total investment exceeding 36 billion USD. Of which, 16 billion dollars were invested in manufacturing and processing, accounting for 44%. It is followed by the real estate sector with $11 billion in investment.
The Vietnamese community in Singapore numbers around 12-13 thousand people. Yet it is a young, dynamic and intellectual community. More than half are overseas students or people undertaking research, master or PhDs. Many are teaching at Singaporean universities. So they have knowledge and experience to contribute to the country’s construction. We’re connecting Vietnamese community together and with the embassy so they can have support each other more", said Nguyen Tien Minh - Vietnamese Ambassador to Singapore.
