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17 November 2009

Singapore sees more investment opportunities in Vietnam

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Singapore companies believe Vietnam's rising middle class will offer more investment opportunities and the sectors with growth potential include telecoms, property and infrastructure, reported the city-state’s TV broadcaster the Channel News Asia.

Local business leaders met the Vietnamese President on Monday to discuss potential areas of cooperation.

Firms already with businesses in Vietnam include Keppel Land, Singapore Technologies and Sembcorp.

Tang Kin Fei, president, SembCorp Group, said: "We've been very successful in our collaborations in Vietnam, in the field of industrial park development and in the field of power plant. So far we are also doing more in northern Vietnam and we hope this will open up new opportunities for us in other parts of Vietnam.

Keppel Land said the property market, especially in landed homes, has been resilient.

It expects the residential segment to healthy over the long term with more Vietnamese citizens aspiring to have their own homes.

Infrastructure is another segment which companies like Singapore Technologies and SembCorp are looking for more growth. 



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