Addressing representatives of over 150 companies from Vietnam, Europe, the US, the Republic of Korea and Japan, Vietnamese Ambassador to Singapore Tao Thi Thanh Huong noted the Vietnamese Government has been issuing policies to attract capital to new economic sectors while making efforts to equitise State-owned enterprises to attract more foreign investors.
The country’s young startup ecosystem now consists of some 3,000 companies, one-third of which have engaged in the technology sector, she said, adding that the Government is also working hard to create the best possible conditions for startups to grow and stretch their reach to the world.
Ambassador Huong said the forum provided a chance for Vietnamese firms to learn more information, connect with partners to expand operations to the region and the world, and find out resources to boost production. It was also an occasion for them to seek Singaporean and international enterprises interested in investing in Vietnam through mergers and acquisitions (M&As).
In 2018, the total value of M&A deals in Vietnam reached US$9.9 billion. In the first 10 months of 2019, Singaporean companies made US$2 billion worth of such contracts with Vietnamese firms, according to the diplomat.
Before the forum, SGX invited Ambassador Huong to beat the gong to open the trading session that marked the exchange’s 20th anniversary. She said the listing on the region’s leading stock markets like Singapore will help companies swiftly carry out M&As thanks to the intensive connectivity among global investors, banks and businesses in those markets.
SGX CEO Loh Boon Chye said Singapore and Vietnam have strong relations in various fields at present. Vietnam, one of the countries with vigorous economic growth in Southeast Asia, is also an important market of SGX.
Over the last two years, Vietnamese investors have realised considerable benefits from Singapore’s capital market, he said, noting that more than 40 enterprises listed on SGX have had business links with Vietnamese partners.
He expressed his hope that many Vietnamese firms will be listed on this exchange in the time ahead.
