Singaporean, Malaysian firms eye business opportunities in Can Tho
As many as 27 enterprises from Singapore and Malaysia today, August 5, will tour the Mekong Delta city of Can Tho to sound out investment and cooperation opportunities in the region, according to the Can Tho Promotion Agency (CPA).
Based on the rising demand for cooperation expansion and investment promotion among Singaporean and Malaysian partners, Can Tho City invited import firms from the two countries to visit the city to purchase products and make deals, the CPA stated.
The call is expected to give the city and the Mekong Delta region a chance to introduce local products and highlight the region’s potential for business and investment activities, the agency noted.
The move was aimed at strengthening business connections, boosting cooperation to develop the hi-tech agricultural sector and revving up exports of the Mekong Delta region’s key farm produce such as rice, seafood and canned fruit.
The delegation will visit processing and export firms in the city, such as NTSF Seafoods Company, Ngoc Quang Phat Export Import JSC and Thuy Son JSC today.
On August 6, these Singaporean and Malaysian firms will join a meeting to discuss cooperation and investment opportunities with firms in the region.
Can Tho City made over US$2 billion in export revenue in 2018, up 13.14% against the figure seen in 2017, whereas it spent US$450 million importing goods, up 5.17% year-on-year.
In the first quarter of 2019, the city’s export earnings amounted to over US$560 million, rising 11.86% year-on-year and its import revenue was reported at US$118 million, up 12.86% against the same period last year.
As of May, Can Tho City attracted 82 foreign direct investment (FDI) projects with total pledged capital of US$719.9 million. These projects were funded by South Korean, Singaporean, Thai, American, German and Japanese investors.
Singapore alone saw its firms injecting total registered capital of US$129.2 million into 10 FDI projects in the city.