PM’s Singapore visit brings about substantive results to both sides: expert

Singapore (VNA) – Prime Minister Pham Minh Chinh’s official visit to Singapore from February 8-10 has contributed to promoting bilateral relations, particularly economic cooperation, Dr. Pham Duc Minh from the Singaporean Government’s Agency for Science, Technology and Research has said, given the complicated developments of the world situation.

Minh assessed that the visit has produced substantive outcomes, including creating an impetus for development in digital economy and green economy - which will be the two spearhead industries of the Vietnamese economy in the coming time.

With the memoranda of understanding on cooperation signed between the two countries, it will be easier for corporations and companies in Vietnam to access investment and financial resources of Singaporean investment funds and those based in the country, he said, adding that the cooperation also helps Vietnam to access Singapore's latest technologies.

According to him, the Vietnamese Government’s approval of investment in the Vietnam-Singapore Industrial Park Nghe An II will give a boost for the development of industrial parks in Vietnam in the context of difficulties caused by declines in global production demand in some industries.

Vietnam's favourable geographical position and improving transport infrastructure have attracted corporations to increase investment and open production factories in Vietnam. Therefore, the preparation of infrastructure in industrial zones is very important at this time, he stressed.

That Vietnam and Singapore have reached an important agreement on digital economy and green economy will pave the way for further cooperation in trade, investment, science and technology, and Vietnam can work towards cooperation in areas where Singapore is leading the world or the region, thus bringing great economic benefits to both sides.

Minh emphasised that the two countries can first cooperate in environmental solutions and clean energy because Singapore is a global pioneer in this field.

Digital transformation, including e-government, smart country-smart city and smart manufacturing, is also worth receiving more attention for further cooperation, he said.

To speed up economic growth, Vietnam should focus on developing mechanical engineering, electronics, telecommunications and computer science, and semiconductor ecosystem in cooperation with Singapore, the expert added./.