Singapore Businesses Eye Middle Class in Vietnam

Companies from Singapore are paying more attention to Vietnam’s middle class who is expected to offer them investment opportunities in the areas of telecoms, infrastructure and realty, Singaporean corporate leaders said in a meeting with Vietnamese President Nguyen Minh Triet.

At the meeting, Chairman of SembCorp Group, Tang Kin Fei, said his firm have invested in a number of projects in industrial parks and power projects in Vietnam.

“SembcCorp plans to invest into northern Vietnam, which is hoped to open use more chances to enter other regions in the country”, he added.

An official from Keppel Land Group said the Vietnamese realty market has recovered, which will be a very good chance for the company to provide more house projects for the Vietnamese middle class.

Meanwhile, Technologies TElemedia is also mulling over more investment in infrastructure projects in Vietnam.

As of late October this year, Singapore has invested into 758 projects with a combined registered capital of US$16.9 billion in Vietnam, ranking the fifth among countries and territories.

Tags: Vietnam business news, Vietnam Singapore corporation