Singapore firms

The poll by Japan’s Pasona Group Inc of Japanese companies operating in 11 countries and territories said Vietnam was followed by India (55 percent) and Thailand (50 percent).The poll last December asked 818 firms operating in the U.S., Canada, Hong Kong, Taiwan, South Korea, Thailand, Vietnam, Malaysia, Singapore, Indonesia, and India.In Vietnam, 36 percent said they would keep operations at the same level while the rest did not have plans.By last year 37 out of 81 Japanese firms receiving government subsidies to move their factories out of China to other countries have opted for Vietnam."Vietnam currently tops the list of investment destinations among Japanese firms choosing to diversify their supply chains," Japanese ambassador to Vietnam, Takio Yamada said.Japan was the sixth largest investor in Vietnam last year with $786 million. … [Read more...] about 57 pct of Japanese firms in Vietnam plan to expand

The Hanoitimes - More investment from Singapore’s tech firms will help maintain its position as Vietnam’s top investor, Prime Minister Nguyen Xuan Phuc has said. Singapore’s investors are seeking investment opportunities in Vietnam, particularly in fields of innovation, smart city and startups, which are in line with the Vietnamese government’s development priorities. Prime Minister Nguyen Xuan Phuc and Singapore’s Ambassador to Vietnam Catherine Wong. Photo: Quang Hieu. Singapore’s Ambassador to Vietnam Catherine Wong shared the information at meeting with Prime Minister Nguyen Xuan Phuc on January 13 when she came to bid farewell before the end of her working period in Vietnam.. Ms. Wong congratulated Vietnam on its successful role as the ASEAN Chair in 2020, saying Vietnamese initiatives helped strengthen linkages and cooperation among the bloc’s members. Amid the Covid-19 pandemic causing severe disruption in global trade, Ms. Wong stressed the … [Read more...] about Singapore’s investors seek investment opportunities in startups in Vietnam

The Hanoitimes - Competition to attract FDI in Southeast Asia would be fiercer in the coming time. The fact that half of 30 Japanese firms have chosen Vietnam as an alternative investment destination in Southeast Asia away from China has shocked regional countries, according to Takeo Nakajima, chief representative of the Japan External Trade Organization (JETRO) in Hanoi. Takeo Nakajima, chief representative of the Japan External Trade Organization (JETRO) in Hanoi. Japanese firms are looking to diversify their supply chains, but it does not mean to shift their entire production facilities from one country to another, Nakajima said at a press conference on July 23 as reported by VnExpress. JETRO earlier this month released a list of 30 Japanese firms that are poised to receive subsidies from its government to move production facilities from China to Southeast Asian countries, of them 15 eye Vietnam as a favorite destination. JETRO said the financial … [Read more...] about Regional countries shocked at Japanese firms choosing Vietnam as investment destination: JETRO

The Hanoitimes - In contrast to a wide range of investment incentives for multinationals, investment procedures for local enterprises, especially small and medium ones, remain complicated. While Vietnam is stepping up efforts to attract fresh foreign direct investment (FDI) in the post-Covid-19 period, efficient and strong supporting policies for domestic firms are equally important to boost the economic recovery, according to National Assembly (NA) deputy Bui Thanh Tung. Supporting policies for domestic firms equally important as FDI attraction incentives. In contrast to a wide range of investment incentives for multinationals, investment procedures for local enterprises, especially small and medium ones, remain complicated, said Tung at an NA discussion session on June 15. An equitable and fair treatment for both domestic and foreign-invested sectors would enhance trust and confidence of the business community in the government, a key step in speeding up … [Read more...] about Supporting policies for domestic firms equally important as FDI attraction incentives

Each morning before work at a Singapore construction site, Gunasekar Udayakumar, 41, gets his vital signs checked, without going to a clinic, or even seeing a nurse. All he needs is his smartphone, which in just 45 seconds can tell him his heart rate, oxygen levels and even his stress levels. It can also tell him if he should see a doctor. The application, developed by Singapore startup Nervotec, is what construction firm Kajima considers its first line of defence against another outbreak of the coronavirus in Singapore. The city-state has kept a tight lid on its infections and wants to avoid a repeat of last year, when a series of clusters emerged in migrant worker dormitories. Kajima staff at various sites have used the application since December as part of a government-initiated programme that provides companies with trial-stage technology to help them adjust to the new pandemic-era norms. It offers a diagnosis of the user’s health condition, relying solely on a … [Read more...] about Singapore trials Smartphone app offering mini check-ups