The groundbreaking ceremony of the phase II of the Vietnam Singapore Industrial Park (VSIP) project in the central province of Quang Ngai. (Source: VNA)

Hanoi (VNA)
– Vietnam and Singapore have complimentary economies, creating potential for bilateral cooperation, Vietnamese Ambassador to Singapore Nguyen Tien Minh said on the sidelines of the on-going 29th Diplomatic Conference in Hanoi.

The Ambassador underlined cooperation between Vietnam and Singapore within the framework of free trade agreements formed and developed in the ASEAN Economic Community nations as well as the Trans Pacific Partnership.

Vietnam has rich natural and human resources and wide geographic location while Singapore is financially capable and experienced in economic development, Minh told Vietnam News Agency reporters.

The two nations can collaborate to introduce more products up Singaporean standards to new markets, he added.

The Embassy has provided support for Vietnamese firms to connect with Singaporean ones, enhancing domestic businesses competitiveness, the Ambassador said.

The agency has also coordinated with the Singapore Businesses Federation to bring Singaporean business delegations to seek investment opportunities in Vietnam, according to Minh.

The diplomat suggested Vietnamese enterprises take advantage of international and regional integration to create strong and sustainable economic development.-VNA