To Lam, General Secretary of the Communist Party of Vietnam Central Committee, hosted receptions for representatives of outstanding enterprises in Singapore on Tuesday, as part of his ongoing visit to the-city state.

Vietnam's Communist Party General Secretary To Lam (R) meets with Tow Heng Tan, Chairman of Sembcorp Industries, on March 11, 2025.

Talking with Lim Boon Heng, Chairman of Temasek Holdings, Lam said Vietnam targets a growth rate of 8% or higher this year to pave the way for double-digit growth in the following years.

To achieve this, he highlighted the priority to large-scale foreign direct investment projects to drive innovation and economic progress.

Vietnam pledges to support Temasek’s investments, ensuring a business climate conducive to the company’s success in the country, he said.

Lim, for his part, outlined Temasek’s diverse investment portfolio covering a wide range of fields such as energy and resources, telecommunications and communications, financial services, real estate, infrastructure and logistics, food and beverages, biotechnology, and healthcare.

He expressed his strong interest in expanding cooperation in renewable and green energy development in Vietnam.

Meeting with Tow Heng Tan, Chairman of Sembcorp Industries, Lam said the Vietnamese Government is actively revising its power development plan to accelerate renewable energy adoption.

Vietnam welcomes foreign enterprises, including Sembcorp, to invest in Vietnam’s power sector, especially in clean and renewable energy, and assures that the country would facilitate and support Sembcorp’s business operations for success and sustainable growth, the top leader said.

For his part, Tow proposed a pilot policy for the Vietnam-Singapore Industrial Park model and expressed the firm's strong interest in expanding its investments in Vietnam’s power sector, with a focus on renewable energy and gas turbines.

He also suggested bilateral cooperation in offshore wind energy projects and training courses.

Louis Lim, Chief Executive Officer of Real Estate Division of Keppel Corporation, affirmed that Keppel, which has been operating in Vietnam for over 30 years, wishes to continue long-term investment in the country.

Lee Chong Min, founder and managing partner of CMIA Capital Partners, said the group hopes to receive support in accelerating the project approval process, and granting approval for CMIA as the overall developer of the HCMC eco-technology urban area complex, as well as considering some incentive mechanisms for it.

Lam noted that relevant agencies will review and evaluate the investor's proposals and facilitate the group’s business activities in Vietnam.

Meeting with Tran Thi Lam, Advisor to Shangri-La Healthcare Investment and Co-founder of Hoa Lam Shangri-La Medical Co., Ltd., the Party leader commended the company’s nearly 20-year partnership with Vietnam in health care and medical services.

Tran Thi Lam presented the company’s business activities and strategic investment plans in Vietnam, expressing a strong commitment to expanding hi-tech medical zones and fostering business connections and investment promotion.

As healthcare development is a key pillar in its socio-economic strategy, Vietnam needs foreign expertise, especially those from Singapore, the Party chief said.

He encouraged Shangri-La Healthcare Investment to continue investing in medical technology, hi-tech and quality medical equipment production, and increase technology transfer to Vietnamese partners in the coming time.

At a meeting with Lim Ming Yan, Chairman of the Singapore Business Federation, Lam emphasized that the Vietnam-Singapore strategic partnership continues to thrive in all aspects, from politics, diplomacy, economics to cultural exchange and people-to-people connections.

During his ongoing visit to Singapore, both sides wish to promote cooperation, particularly in investment areas that Singapore has strengths and Vietnam has potential, such as digital economy, knowledge economy, circular economy, renewable energy, sustainable industrial zones, and green finance.

He affirmed that Vietnam will continue to reform administrative procedures and support businesses in their investment activities in Vietnam.