Prime Minister Pham Minh Chinh speaks at the Vietnam – Singapore business forum. (Photo: VNA) In his remarks, the Vietnamese leader highlightedthe fruitful development of the bilateral ties, saying that over the last 50years, Vietnam and Singapore have understood and trusted each other more.
This is an important foundation to promote cooperation, towardssetting new milestones in the relationship between the two countries, contributingto peace, stability, cooperation and development in the region and the world,PM Chinh stressed.
He informed participants about the results of his talks withSingaporean Prime Minister LeeHsien Loong, noting that the increasingly strengthened relationship will createa favourable environment for partners and investors of the two sides to furtherpromote win-win cooperation.
He affirmed that Vietnam consistently pursuesthe foreign policy of independence, self-reliance, multilateralization, and diversification of relations;and works hard on comprehensively and effectivelypromoting international integration.
Thecountry is a good friend and trustworthy partner of international community, he stressed.
According to the PM, after more than 36 years of its doi moi(renewal) process and integration, Vietnam has reaped many importantachievements. Vietnam’s economic scale reached 409 billion USD, and per capitaincome increased from 160 USD to over 4,100 USD.
He stressed that the Vietnamese government is working tomaintain macro-economic stability, ensure major economic balances and removebottlenecks in the national economy in terms of institutions and laws,infrastructure and human resources.
The country also aims to develop supply chains, and build a stableenvironment along with policies, and ensure transparency, he added.
Chinh expressed his belief that with the resolve of both sides aswell as the close friendship between the two peoples, economic ties will remain an important pillar in the bilateral relationship and serve as anengine to elevate it to a new height in the spirit of “harmonious interests andshared risks.”
Speaking at the forum, Singapore’s Second Minister for Industry and Trade andMinister for Manpower Tan See Leng highlighted economic relations between thetwo countries.
Singapore continues ranking first in ASEAN and second out of 141countries and territories investing in Vietnam with 3,032 valid projects and total registered capital of 70.39 billion USD. In 2022, among 108 countries and territoriespouring capital into Vietnam, Singapore was the largest foreign investor with6.46 billion USD worth of investment, accounting for 23.3% of the total FDI poured intothe country.
The bilateral partnership in digital economy and green economy,established during PM Chinh’s visit, will create a basis for enhancing the twocountries' relations in energy, infrastructure, innovation and connectivity, hesaid, adding that the large number of delegates attending this forum alsodemonstrates the Singaporean business community's interest in the Vietnamesemarket.
At the forum, representatives of organisations and businesses discussedissues considered key to stabilising the macro-economy, ensuring major balances,and promoting economic growth in the coming years.
They showed their wish to invest and expand investment in Vietnam,especially in green economy and digital economy.
A representative of Standard Chartered Bank described Vietnam as arising star in the region with its stable policies, dynamic economy, and reformefforts.
With its commitments to climate change response and net zeroemissions by 2050, the bank said it believes Vietnam will continue to createopportunities for foreign investors.
On the occasion, the PM and representatives from ministries andagencies of the two countries witnessed the handover of some decisions andcooperation agreements, including a decision approving investment in building the VSIPNghe An II, an agreement between the PetroVietnam Technical Services Corporation(PTSC) and Sembcorp Utilities of Singapore, and another between the DiplomaticAcademy of Vietnam and Nanyang Technological University's S. Rajaratnam Schoolof International Studies.
At the handover ceremony of the documents (Photo: VNA) VNA
