(VOVworld) – Singaporean investors believe in Vietnam’s potential of rapid urbanization, huge domestic consumption, and rich natural resources, according to the Chief Executive Officer of International Enterprise (IE) Singapore, Teo Eng Cheong. Teo said Sunday that rapid urban population growth, higher educational level, and income increase have developed the consumer sector. He considered it a good opportunity for foreign businesses of education, safe water, and medical care to operate in Vietnam.

The Vietnam-Singapore Industrial Park is an example of successful Singaporean investment in Vietnam. (Photo:baodautu.vn)

Singapore is currently the third largest investor in Vietnam with more than 1,000 projects worth 22 billion USD. Singapore is also Vietnam’s 6^th trading partner with 13 billion USD in total revenue last year.