Singapore's leading firms seek to expand investments in Vietnam

Leading Singaporean companies, including CapitaLand, Sembcorp, SATS, SEA Limited, Keppel and UOB, have expressed interest in expanding investments in Vietnam across sectors ranging from green urban development and industrial real estate to logistics, data centers, digital finance and next-generation industrial parks.

The commitments were discussed during meetings between Vietnam's top leader To Lam and company executives on Saturday during his state visit to Singapore.

CapitaLand eyes green urban projects, logistics, data centers

During a meeting with Jonathan Yap, CEO of CapitaLand Development (CLD) - the development arm of CapitaLand Group, Party chief and President To Lam praised the company's more than three decades of operations in Vietnam, particularly in real estate development.

He said he welcomed CapitaLand's plans to pursue high-quality, green and smart urban area projects that make efficient use of land, integrate with urban infrastructure, and contribute to the modernization of Vietnam's major cities.

The CapitaLand executive said the company is seeking to expand investments in green housing developments, urban area projects, industrial real estate, logistics facilities and green data centets.

He also welcomed Vietnam's recent efforts to streamline investment procedures, decentralize decision-making, simplify business regulations, and accelerate digitalization.

Sembcorp backs expansion of VSIP network

To Lam also met executives of Sembcorp Industries, praising the group's nearly 30 years of operations in Vietnam, particularly through the Vietnam-Singapore Industrial Park (VSIP) network and its energy investments.

He encouraged Sembcorp to expand investment into sectors where Vietnam has growing demand and proposed a long-term goal of establishing at least one VSIP industrial park in each of Vietnam's 34 provinces and cities.

The Vietnamese top leader also called for future VSIP developments to evolve into green and smart industrial parks integrated with innovation centers, digital infrastructure, modern logistics, and low-emission manufacturing ecosystems.

Sembcorp said it supports the vision of expanding the VSIP model nationwide and plans to continue investing in Vietnam while contributing to workforce development, technology transfer and the attraction of additional foreign investors.

Through its joint venture with Vietnam's Becamex, Sembcorp has helped develop the VSIP network from the first industrial park in Binh Duong province in 1996 to a system of 26 industrial parks across the country.

SATS focuses on aviation logistics, SEA expands digital finance

In the aviation sector, To Lam highlighted the longstanding cooperation between SATS and Vietnam Airlines and noted Vietnam's priority on developing modern aviation and logistics infrastructure to support trade, e-commerce, tourism and international connectivity.

SATS said it is interested in expanding investments in Vietnam through the development and operation of air cargo terminals, airport logistics services and partnerships at key airports. The company also plans to share technical expertise and support workforce training for Vietnam's aviation industry.

Meanwhile, SEA Limited said it aims to expand its presence in Vietnam in banking, financial services and development of modern logistics.

The Vietnamese top leader acknowledged the group's operations through Shopee, ShopeePay and SPX, and encouraged SEA to strengthen cooperation in promoting e-commerce, supporting digital transformation among small businesses, and expanding market access for Vietnamese products.

He also urged the company to explore broader applications of artificial intelligence, data analytics and digital technologies to help small enterprises and merchants improve operational efficiency, expand market reach, and participate more deeply in regional digital supply chains.

The discussions also covered cross-border e-commerce, digital payments, digital financial services and financial inclusion initiatives.

Keppel and UOB target green infrastructure, financial services

During a separate meeting with Keppel executives, To Lam welcomed the company's plans to expand its activities in sustainable infrastructure, smart cities and projects aimed at improving quality of life.

Vietnam encouraged Keppel to explore opportunities in green infrastructure, energy saving solutions, climate-resilient infrastructure, low-emission urban developments, data centers, cloud computing, AI infrastructure and digital systems designed to enhance data security and sovereignty.

Other areas discussed included smart urban developments, mixed-use real estate, urban services, infrastructure supporting Vietnam's International Financial Center (IFC), green logistics, sustainable aviation fuel, and innovation ecosystems.

UOB, which has operated in Vietnam since 1993, said it remains committed to expanding investments in banking, financial services, hospitality, real estate and technology ventures.

The bank also pledged support for Vietnam's ambition to develop the IFC that could serve as a regional financial gateway.

To Lam asked UOB to deepen cooperation in financial services supporting the IFC, strengthen regional financial connectivity, and help Vietnamese companies improve corporate governance, access capital, internationalize operations, and integrate further into ASEAN value chains.

The meetings highlighted the broadening scope of Vietnam-Singapore economic cooperation, which is increasingly expanding beyond traditional trade and investment into higher-value sectors characterized by advanced technology, innovation, and modern management practices.

Following the recent elevation of bilateral ties to a Comprehensive Strategic Partnership, the investment plans of major Singaporean companies underscore a new phase of cooperation focused on sustainability, digitalization, and enhancing Vietnam's role in regional value chains.