The Singapore Regional Business Forum (SRBF) is hosted by Vietnam for the first time.

On July 7th, the Singapore Business Federation (SBF) organized the inaugural session of the Singapore Regional Business Forum (SRBF) in Hanoi. The event was attended by Deputy Prime Minister Le Minh Khai, Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Nguyen Hong Dien, and Vice Chairman of VCCI Nguyen Quang Vinh.

Leading the Singaporean delegation was Mr. Tan See Leng, Minister of Manpower and Minister of Trade of the Republic of Singapore, along with a delegation of 25 Singaporean businesses from various sectors.

Speaking at the forum, Deputy Prime Minister Le Minh Khai highly praised the effective cooperation between the two countries. He noted that Singapore ranks second in terms of investment in Vietnam with over 3,200 projects and registered capital of 73.4 billion USD.

Vice Chairman of VCCI, Nguyen Quang Vinh (in light-colored suit), discussed sustainable development policies with leaders from Vietnam and Singapore.

Participating in the panel discussion at the Forum, Vice Chairman of VCCI, Nguyen Quang Vinh, shared about the importance of technology companies in advancing sustainable economics. He emphasized several key issues that companies should pay attention to, including energy consumption, electronic waste management, product design, integrating sustainable digital supply chains, sustainable innovation, data privacy and protection, and policy collaboration and advocacy.

Offering some solutions for Vietnamese businesses, Mr. Vinh suggested that the Vietnamese business community should focus on digital transformation, research and development (R&D), and workforce development to drive growth and development in the future.

"Encouraging a culture of innovation and investing in R&D can enhance competitiveness and differentiation. Businesses should prioritize developing new products, services, and business models to meet the increasing demands of customers. Collaborating with research organizations and startups can foster innovation and create new opportunities," shared the Vice Chairman of VCCI.

Furthermore, an essential element that businesses cannot overlook in the current trend is Corporate Social Responsibility (CSR). Mr. Vinh stated, "Demonstrating a commitment to fulfilling social responsibilities and being connected with the community can enhance brand reputation and trust from relevant stakeholders. Combining business objectives with sustainable development goals can create a positive impact on society and the environment."

Mr. Nguyen Quang Vinh (in the middle) shared his opinions on sustainable development during the panel discussion.

This is the first time the forum is being held outside Singapore. With the theme "Enhancing Regional Collaboration for Sustainable Growth," the forum aims to expand economic relations and foster closer ties between Singapore and Vietnam. It is one of the significant activities commemorating the 50th anniversary of bilateral relations and the 10th anniversary of the Strategic Partnership between Singapore and Vietnam.

The forum attracted the participation of over 800 business leaders, high-ranking government officials, and diplomats from more than 420 companies and organizations representing 32 countries and economies, along with nearly 550 invited guests representing over 150 companies from various sectors, including professional services, transportation & logistics, urban development, technological innovation, and education.

The choice of Vietnam as the host for SRBF reflects the country's importance to Singapore, especially in expanding business cooperation into new growth areas such as the digital economy, cybersecurity, clean energy, sustainable development, and smart cities.

Source: TRUONG DANG (Business Forum Magazine).