Vietnam's rising middle class seen offering investment opportunities
By Ryan Huang/ Jonathan Peeris, Channel NewsAsia | Posted: 16 November 2009 2102 hrs

	Photos  of

SINGAPORE: Singapore companies believe Vietnam's rising middle class will offer more investment opportunities and the sectors with growth potential include telecoms, property and infrastructure.

Local business leaders met Vietnamese President Nguyen Minh Triet on Monday to discuss potential areas of cooperation.

Firms already with businesses in Vietnam include Keppel Land, Singapore Technologies Telemedia and Sembcorp.

Tang Kin Fei, president, SembCorp Group, said: "We've been very successful in our collaborations in Vietnam, in the field of industrial park development and in the field of power plant.

"So far, we are also doing more in northern Vietnam and we hope this will open up new opportunities for us in other parts of Vietnam."

Keppel Land said the property market, especially in landed homes, has been resilient. It expects the residential segment to be healthy over the long term with more Vietnamese citizens aspiring to have their own homes.

Infrastructure is another segment which companies like Singapore Technologies Telemedia and SembCorp are looking into for more growth. - CNA/vm