Grace Fu urges Singapore companies to invest in Vietnam
There are opportunities abound in Vietnam for Singapore companies, Second Minister for Environment and Water Resources and Foreign Affairs, Ms Grace Fu, said in Hanoi on Thursday.
And with the official launch of a strategic partnership between the countries on Wednesday, Singapore is in a good position to tap on growing industries such as manufacturing, financial services and hospitality.
"This is a country with over 90 million population, it has a very young population," said Ms Fu, who is accompanying Prime Minister Lee Hsien Loong on his official visit to Vietnam.
"Labour cost is very low, (they have a) very hardworking population, very eager to learn and with their greater linkages to the world through the various free trade agreements as well as the TPP (Trans-Pacific Partnership) for example, we see this as a great potential for us to tap."