Two-way trade has increased after Vietnam and Singapore upgraded the ties to a strategic partnership in 2013. (Photo: VNA) Singapore (VNA) – More than 150 Vietnamese and Singaporeanenterprises attended a conference in Singapore on November 27 to look forcooperation and investment opportunities.
The event is part of activities held by theVietnam-Singapore Friendship Association (VSFA) in collaboration with theVietnamese Embassy and relevant agencies in Singapore from November 26-29 onthe occasion of the 45th anniversary of Vietnam-Singapore diplomaticrelations, and five years of their strategic partnership.
At the conference, Vietnamese firms said they want to bolster links withSingaporean sides so that they can join the regional and global supply chainsin the context of digital economy and the Fourth Industrial Revolution.
Getting updated on Vietnam’s investment policies and economic strategies,Singaporean companies spoke highly of Vietnam’s economic prospects, andexpressed their interest in expanding business operations in the country. Theywished that the Vietnamese business climate will be further improved to welcomea new foreign investment wave as a wide range of free trade deals will soontake effect.
VSFA Chairman Vu Viet Ngoan lauded the friendship and comprehensive cooperationbetween Vietnam and Singapore in all sectors. Since the nations upgraded theties to a strategic partnership in 2013, two-way trade has increased year afteryear. Singapore is currently the 3rd largest trade partner ofVietnam in ASEAN while the latter is the 5th trade largest ofSingapore in the bloc.
As both sides are engaged in a number of free trade agreements, especially theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)and the Regional Comprehensive Economic Partnership (RCEP), they will furtherboost bilateral relations and engage more deeply in the global value chain, headded.
On the occasion, the VSFA joined hands with the US-ASEAN Business Council(USABC) to organise a talk connecting US groups operating in Singapore andASEAN and Vietnamese enterprises in the fields of finance, banking andinnovation.
Participants discussed opportunities for US firms to increase their investment inVietnam and pour more cash into local commercial banks, as well as those forVietnamese firms to join regional and global supply chains.
Earlier on November 26, an exhibition displaying more than 30 paintings thatfeature the culture, land and people of Vietnam and Singapore was opened,drawing the participation of more than 200 visitors who are Singaporeanofficials, representatives from diplomatic organisations and local people.-VNA
VNA
