The forum was attended by Pang Te Chang, Singapore’s consul general in Ho Chi Minh City; Lam Dung Tien, chairman of the Vietnam-Singapore Friendship Association; Ho Xuan Lam, vice chairman and secretary general of Ho Chi Minh City Union of Friendship Organisations; and Luu Thi Thanh Mau, vice president of the Vietnam Young Entrepreneurs Association and CEO of Phuc Khang Corporation.

The event also brought together CEOs with a common vision to build sustainable businesses in Vietnam and Singapore.

Pang Te Chang, Singapore’s consul general in Ho Chi Minh City, delivers opening remarks. Photo: Phuc Khang Corp

Singapore is Vietnam’s largest trade partner within ASEAN and fourth-largest global partner. In 2024, total bilateral trade value surpassed $10.3 billion, showing a 14.7 per cent jump on-year.

In terms of investment, Singapore is the largest investor within ASEAN and the second-largest globally in Vietnam, with 3,951 projects and total investment exceeding $83 billion.

Last year, Vietnam welcomed over 347,000 visitors from Singapore, collaborating in various fields such as finance, banking, resources and environment, education, and justice between the two nations.

These figures, shared by Chang in his opening speech at the forum, demonstrate the close relationship between the two nations.

The Singaporean diplomat highlighted the importance of the forum in enhancing mutual understanding, strengthening bonds, and fostering cooperation between businesses and organisations from Vietnam and Singapore.

“I believe that through the speeches and exchanges today, we have the opportunity to learn from each other, build strategic partnerships, and together promote sustainable development in manufacturing and business,” said Chang.

The forum featured presentations and discussions from experts and top business leaders from Singapore, such as Earnest Yoong, chapter chair of the Institute of Singapore Chartered Accountants Vietnam; Clarice Chan, CEO of Gateway Singapore; Bernard Lim, CEO and executive director of Tai Sin Electric Limited; and Vincent Choi, CEO of TerraVerde Singapore.

Bernard Lim said sustainability is both a business need and an ethical obligation. While the transition to sustainability comes with challenges, a phased approach, strong culture, and smart investments can turn obstacles into opportunities.

The Vietnam-Singapore Sustainability Forum 2025 gathered experts, businesses, and organisations at the forefront of sustainable development in Vietnam and Singapore. Photo: Phuc Khang Corp

Sustainability certifications are quickly becoming a key differentiator in global supply chains to access new markets and business opportunities, with multinational corporations and buyers increasingly focusing on sustainability.

“Green-certified products enhance brand reputation and attract environmentally-conscious customers. This will help distinguish you from competitors and provide a competitive advantage. For example, Singapore Building and Construction Authority recently announced that from January 1, 5 per cent of tender evaluation points will be set aside for environmental sustainability considerations,” Lim said

CEO Luu Thi Thanh Mau also shared her insights and experiences at the forum through a presentation focusing on notable advances in green and sustainable building development in Vietnam.

Mau, who was the only Vietnamese representative honoured at the Asia Pacific Leadership in Green Building 2022 Awards in the category ‘Women in Green Building Leadership Award’, shared her journey and perspective.

Luu Thi Thanh Mau, vice president of the Vietnam Young Entrepreneurs Association and CEO of Phuc Khang Corporation, delivering remarks at the forum. Photo: Phuc Khang Corp

In her presentation, Thanh Mau shared a common view with Bernard Lim that green is a trend not only in the construction industry but across all sectors and in daily life. According to Phuc Khang, construction is one of the largest consumers of energy and resources, yet it is also a major source of pollution.

In such a context, creating green buildings provides a comprehensive approach to achieving sustainable development goals through three pillars: environment, society, and economy.

Green buildings bolsters energy efficiency, carbon reduction in infrastructure, and urban regeneration. Additionally, green buildings offer safe, healthy, comfortable, and equitable living spaces for people.

In terms of economic development, green buildings optimises resource usage and create urban infrastructure that fosters the growth of a circular economy.

“Green buildings play a crucial role in achieving the net-zero carbon emission target and are essential in building a sustainable future for both Vietnam and the world,’ said Thanh Mau.

To align with the green development process, Phuc Khang Corporation has established its mission to lead a better living style for public health and a sustainable ecological environment in accordance with global green standards.

Phuc Khang’s green and sustainable strategy aligns with the direction followed by Singaporean businesses, promising diverse potential cooperation opportunities and contributing to the common goal of sustainable development.

Bangkok – Thailand is rapidly developing artificial intelligence (AI) for fraud detection, according to SAS Institute, a global leader in the data and AI field.

The country’s financial sector is expected to see collaboration in risk management and fraud management to tackle new financial crime in an end-to-end prevention process, said the company as reported by the local news site Bangkok Post.

Thailand has strong regulatory frameworks and collaboration among banks. This aligns with successful models in Australia, Europe and Hong Kong in combating financial crime, stated Ian Holmes, SAS director and global lead for enterprise fraud solutions.

Holmes added that Thailand is embracing technology to combat financial crime, including real-time payment protection to safeguard against fraud in digital transactions.

He said that the wider adoption of AI is transforming the fraud detection and anti-money laundering processes. The use of Thailand’s digital ID will also speed up identity verification, requiring AI to ensure secure and fast processing.

The groundbreaking ceremony of VSIP II Quang Ngai Industrial Park in Quang Ngai province, Photo: Tang Thu

Numerous industrial parks (IPs) have received approval already this year in provinces such as Thai Nguyen, Bac Giang, and Binh Phuoc. Earlier this month, the groundbreaking ceremony for Song Cong II IP took place in the northern province of Thai Nguyen. The project spans almost 300 hectares, with a total investment of nearly $160 million.

A few weeks previously, Bac Ninh People’s Committee, also in the north, granted approval to Nghia Hung, My Thai, Song Mai-Nghia Trung, and Dong Phuc IPs.

In the central region, VSIP II Quang Ngai IP became the newest player in the field after the groundbreaking ceremony on March 12 with attendees coming from the government, and National Assemly Chairman Tran Thanh Man and Deputy Chairman Vu Hong Thanh. The initiative is located in Dung Quat Economic Zone with a total area of 498ha, and has a total investment of nearly $158 million.

Moving south, Bac Dong Phu IP, in Dong Xoai city of Binh Phuoc province, has been approved with a total investment of nearly $55 million and a land area of over 300 ha.

Speaking with VIR, Nguyen Thuong Lang, a senior lecturer at the National Economics University, highlighted that abundant foreign direct investment (FDI) inflows were a key driver behind the expansion of the industrial estate sector.

“The development of the industrial field, especially foreign investment in manufacturing, will be the main force driving the value of industrial real estate. According to the latest report from the Foreign Investment Agency, nearly 70 per cent of FDI inflows into Vietnam are directed towards manufacturing. Therefore, the upward trend in industrial real estate prices is both logical and inevitable,” Lang said.

According to the report released at the end of February, the manufacturing and processing sector led in attracting FDI, with slightly over $3.1 billion, marking a 50.6 per cent on year increase.

Lang also predicted strong growth in the industrial real estate market, suggesting that land rental prices will increase, particularly in prime locations.

Building on Lang’s prediction, Nguyen Hoai An, senior director at CBRE Hanoi Branch, said that over the next three years, industrial land rental fees are expected to increase by 4-8 per cent annually in the northern region and by 3-7 per cent annually in south.

“The primary drivers of this growth are the continuous development of new IPs, particularly in key markets such as Haiphong and Vinh Phuc in the north, as well as Binh Duong, Dong Nai, and Long An in the south,” An said.

An also pointed out that the expansion was not limited to traditional areas, as the development wave is spreading to central provinces like Thanh Hoa, Nghe An, Ha Tinh, and Quang Nam. In these emerging markets, professional developers are implementing new IP projects, helping to put these regions on Vietnam’s industrial map.

“For the ready-built warehouse and factory segment, rental prices are forecasted to rise slightly by 1-4 per cent per year during the same period. Although new supply remains high in both key industrial regions, demand for ready-built warehouses and factories is also showing signs of growth,” An added.

Discussing the outlook for the industrial real estate sector, Pham Thi Mien, deputy head of Market Research, Consulting and Investment Promotion, under the Vietnam Association of Real Estate Brokers, highlighted that the supply of new IPs was set to soar.

“Between 2024 and 2027, Vietnam is expected to add around 15,200ha of industrial land supply, along with more than six million sq.m of total warehouse and factory space. Alongside this supply expansion, demand is also growing positively, driven by the China+1 relocation trend and the implementation of trade commitments,” she said.

Under master plans for key markets for 2021-2030, provinces such as Binh Duong are expected to host 48-50 industrial areas, covering 25,000ha. Similarly, in Long An, the plan includes 51 IPs, covering almost 12,500ha.

In the north, Hai Duong province is approved for 32 IPs, covering approximately 5,600ha.

“I know quite a few people who have been developing small and medium-sized IPs in Hai Duong, Hung Yen, and Bac Giang. The moment they complete construction, partners from Hong Kong and China approach them with attractive rental offers,” said Tran Quang Trung, business development director at OneHousing.

“I see this as an excellent sign, when industrial real estate flourishes, it generates employment for local people. That, in turn, means higher incomes, enabling people to buy homes, invest, and improve their quality of life, ultimately fostering sustainable national development,” Trung added.

According to OneHousing’s representative, with the government’s target of raising per capita income by the end of 2025 and its roadmap towards 2030, industrial real estate is set to remain a highly lucrative segment, alongside commercial and residential real estate.

Meanwhile, Thomas Rooney, associate director of Industrial Services at Savills Hanoi, observed that Vietnam’s industrial real estate segment has been experiencing remarkable growth, with absorption rates for both industrial land and ready-built warehouses and factories rising significantly.

“Industrial land absorption rates in the north are now competing closely with those in the south, with a large proportion of available land already occupied. Notably, the ready-built warehouse and factory segment has seen strong uptake, with facilities being leased by manufacturers from Taiwan, China, Europe, and the United States,” he said.