SBF to run first overseas edition of Singapore Regional Business Forum in Vietnam
Jamille Tran
[HANOI] The Singapore Business Federation (SBF) will bring its flagship event, the Singapore Regional Business Forum (SRBF), overseas for the first time in July, and Vietnam has been picked to stage the day-long event.
More than 500 participants from over 30 countries will attend the event.
The forum – to be held in a hybrid format on Jul 7 – is being held in conjunction with the 50th anniversary of bilateral relations between Singapore and Vietnam this year, as well as the 10th anniversary of the two countries’ strategic partnership.
In a media briefing on Wednesday (Jun 28), SBF chief executive officer Kok Ping Soon noted Vietnam’s strategic location in South-east Asia and its close business ties with Singapore. This year’s SRBF will focus on expanding cooperation to new growth areas such as the digital economy, cybersecurity, green energy, sustainable development and smart cities.
Among the main speakers at the forum are Vietnam’s Prime Minister Pham Minh Chinh, Singapore’s Manpower Minister and Second Minister for Trade and Industry Tan See Leng, and Vietnam’s Minister of Industry and Trade Nguyen Hong Dien.
With the theme “Strengthening Regional Collaboration for Sustainable Growth”, the programme will include a panel discussion with Dr Tan and Vietnam’s Minister of Planning and Investment, Nguyen Chi Dung. They will address issues such as global tensions and the prospects for building a socially, economically and environmentally sustainable future for the region.
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Other sessions will cover topics such as new investment opportunities in sustainability-related areas, the future of human capital, and tech innovation in Asean’s digitalisation development.
More than 10 agreements will be signed between various organisations and enterprises from Singapore and Vietnam, said SBF’s Kok.
Leaders from three Vietnamese provinces – Hai Phong, Hung Yen and Nghe An – will speak at a separate session to introduce their regions’ business landscape and investment opportunities; SBF will look into catalysing more regional business setups outside of Vietnam’s traditional markets.
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In conjunction with the main forum, there will be a business mission comprising 28 representatives from 25 Singapore enterprises, spanning sectors such as business services, manufacturing, lifestyle and consumer sectors.
The mission from Jul 5 to Jul 8 will visit several Vietnamese conglomerates and key economic sites in the northern part of the country. Singapore business leaders will also gather to share their experience of living and doing business in Vietnam.
Singapore has been Vietnam’s biggest source of foreign investment for the last three years; trade and investment interests remained strong despite the Covid-19 pandemic.
Last year, Singapore was the top foreign investor in Vietnam, with registered investments of around US$6.5 billion accounting for nearly a quarter (23.3 per cent) of the total capital attracted by Vietnam. Two-way trade reached US$23.6 billion in 2022, up 17 per cent from the year before.
A national business survey by SBF found Vietnam to be one of the top three destinations for overseas expansion by Singapore companies in the short term. The key sectors of interest from Singapore companies included manufacturing, infrastructure, wholesale and retail trade.
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