Business ventures of Singapore firms in Vietnam

Years of war and turmoil have contributed to the underdevelopment of Vietnam’s economy. Vietnam’s economic reform, “doi moi”, opens up the door for foreigners to invest in Vietnam. Vietnam has the advantage of a large population which provides a vast source of labour. The abundance in resources such as oil, gas and undeveloped land is also a lure for foreign manufacturers. Presently, there are favourable terms and conditions provided by the Vietnam government and strong encouragement from the Singapore government to Singapore firms to invest regionally. With such strong foreign and government participation in restructuring Vietnam’s economy, Singapore investors are prepared to establish their presence in this nation.BUSINES