Vietnam, Singapore boost cooperation in innovation, technology hinh anh 1The 14th ministerial meeting on economic connectivity between Vietnam and Singapore on March 13 (Photo: VNA)

Singapore (VNA) – Vietnam and Singapore will expand cooperation in innovation and technology – a new area in the bilateral economic partnership that was recommended at the 14th ministerial meeting on economic connectivity between the two countries.

Vietnamese Minister of Planning and Investment Nguyen Chi Dung and Singaporean Minister for Trade and Industry Chan Chun Sing co-chaired the event in Singapore on March 13.

The two ministers agreed that aside from the six prior areas of cooperation, Vietnam and Singapore will add innovation and technology as the seventh field of collaboration as a priority in the context of the Fourth Industrial Revolution (Industry 4.0).

The two countries will develop action plans with the implementation of specific joint projects.

The Singaporean side suggested reforming cooperation in education and training associated with technology. Specifically, Singapore will provide 50-100 scholarships for outstanding Vietnamese students to study at its leading technology universities.

The two sides also reviewed the outcomes of bilateral cooperation in six fields raised at the 13th meeting in Hanoi in October 2017, namely finance, education and training, transportation, information technology and communications, investment, trade, and services.

They affirmed that economic partnership is one of the key pillars to promote and further deepen the strategic partnership between Vietnam and Singapore.

Vietnam asked Singapore to join efforts to implement new initiatives in the agreement on economic connectivity and encourage Singaporean businesses to put forth new cooperation proposals and increase investment in Vietnam.

Earlier, on March 12, at a conference in Singapore, Minister Dung introduced the National Innovation Centre (NIC) and called for investment in Industry 4.0 projects.

He said the centre is expected to push the transformation of Vietnam’s economic growth, prioritising the spheres of smart factory, digital economy, cyber security, urban area, and environmental technology. 

At the conference, the ministry’s Department of Science, Education, Natural Resources, and Environment signed a memorandum of understanding with the Singapore Manufacturing Federation (SMF) to enhance business and project opportunities in high-tech parks with SMF member companies and businesses to promote innovation and entrepreneurship ecosystems in Vietnam.–VNA