Standard Chartered supports strengthening of Vietnam-Singapore trade and investment links

On February 10, Standard Chartered Bank acted as a supporting partner of the “Vietnam-Singapore Business Forum 2023”, organized by the Embassy of Vietnam in Singapore in cooperation with the Ministry of Planning and Investment on the occasion of Prime Minister Pham Minh Chinh’s visit to Singapore.

The forum was a key platform for Vietnamese business leaders and government leaders from ministries, including Planning and Investment, Industry and Trade, Finance, Agriculture and Rural Development, and Education and Training, as well as cities and provinces in Vietnam to discuss important economic issues and matters relating to policies for boosting the post-pandemic economy this year and in the years ahead.

By acting as a supporting partner, Standard Chartered is reinforcing its commitment to Vietnam’s growth and strong Vietnam-Singapore bilateral ties.

According to Mr. Patrick Lee, Cluster CEO, Singapore & ASEAN Markets (Malaysia, Vietnam, Thailand & Rep Offices), and Chair of the Board of Members of Standard Chartered Bank Vietnam, as a rising star in the region, Vietnam’s attractive investment policies and favorable demographics make it the market of choice for many Singaporean investors and businesses.

“With Vietnam’s burgeoning consumer market and opportunities from green energy to infrastructure development, we are seeing greater interest among Singaporean clients to expand into Vietnam,” said Mr. Lee. “Our strong presence in Vietnam and Singapore puts us in an excellent position to help our clients grow their business regionally, as we partner them in both their home and overseas markets.”

Similarly, Ms. Michele Wee, CEO of Standard Chartered Vietnam, believes that Vietnam continues to offer appealing business and investment opportunities for foreign businesses and investors. “Levering our deep local knowledge and drawing on our 119 years of history in Vietnam, combined with unrivaled international expertise and a full suite of innovative financial solutions, Standard Chartered is committed to supporting our clients in Vietnam and overseas in conducting cross-border business and in realizing their growth ambitions,” she said.

Standard Chartered is the only international bank with a presence in all ten ASEAN markets and so plays a key role in facilitating regional investments. Beyond Singapore, its extensive global network and strong international client base has enabled it to act as a catalyst to attract FDI into Vietnam.

The Bank is a trusted banking partner of the top 50 Singapore FDI clients in Vietnam, which include manufacturers and property developers. With its innovative financial solutions, leading expertise in sustainable finance, and local knowledge, the bank witnessed the engagement of Singaporean clients in support of their Vietnam ventures grow 40 per cent in 2022 against 2020.