Vietnam and Singapore agreed to forgecooperation in infrastructure development and tourism, opening newprospect for boosting their economic linkage.
The agreement was reached at the fifth conference on Vietnam-Singaporeeconomic linkage held in the Central Highlands resort city of Da Lat onMar. 13 under the co-chair of Vietnamese Minister of Planning andInvestment Vo Hong Phuc and Singaporean Minister of Industry and TradeLim Hng Kiang.
With this agreement, the two countries have increased their fields ofcooperation to eight, with the other six being on education andtraining, finance, communication and information, investment, trade andservices and transportation, as defined in the Vietnam-SingaporeAgreement on Economic Link signed in 2005.
In the coming time, the two countries will prioritise cooperation infinance-banking, stepping up Singaporean businesses’ investment inVietnam , promoting bilateral tourist linkage, and developing humanresources in the post-crisis period.
Minister of Planning and Investment Vo Hong Phuc affirmed that theagreements reached in this conference will offer new opportunities forthe two countries to promote their linkage and development.
He stressed that specific investment and cooperation projects, plansand programmes of each ministry as well as of localities will beoutlined and deployed as soon as possible.
Reviewing the implementation of the Vietnam-Singapore AgreementEconomic Link over the past five years, the participants unanimouslynoted outcomes significant to the two countries’ development.
The Agreement has contributed effectively to the two countries’ tradeas well as the flow of their investment capital, with the two-way tradevalue rising nearly five-folds from 10.4 billion Singaporean dollars in2005 to over 50 billion Singaporean dollars in 2009.
According to the Foreign Investment Agency (FIA), by February this yearSingaporean investors have had 792 valid projects with a totalregistered capital of 17.3 billion USD, ranking fifth among foreigninvestors in Vietnam .
The FIA provided that up to 88 percent of Singaporean registeredinvestment, or 15 billion USD, have been pumped into the processing andmanufacturing industry, real estate, construction, arts and recreation,services, accommodations and restaurants.
At the conference, the Da Nang Port Co. Ltd and the Singaporean CruiseCentre Pte Ltd (SCCPL) signed a memorandum of understanding ondeveloping the central port of Da Nang into Vietnam ’s largest touristsea port./.
The agreement was reached at the fifth conference on Vietnam-Singaporeeconomic linkage held in the Central Highlands resort city of Da Lat onMar. 13 under the co-chair of Vietnamese Minister of Planning andInvestment Vo Hong Phuc and Singaporean Minister of Industry and TradeLim Hng Kiang.
With this agreement, the two countries have increased their fields ofcooperation to eight, with the other six being on education andtraining, finance, communication and information, investment, trade andservices and transportation, as defined in the Vietnam-SingaporeAgreement on Economic Link signed in 2005.
In the coming time, the two countries will prioritise cooperation infinance-banking, stepping up Singaporean businesses’ investment inVietnam , promoting bilateral tourist linkage, and developing humanresources in the post-crisis period.
Minister of Planning and Investment Vo Hong Phuc affirmed that theagreements reached in this conference will offer new opportunities forthe two countries to promote their linkage and development.
He stressed that specific investment and cooperation projects, plansand programmes of each ministry as well as of localities will beoutlined and deployed as soon as possible.
Reviewing the implementation of the Vietnam-Singapore AgreementEconomic Link over the past five years, the participants unanimouslynoted outcomes significant to the two countries’ development.
The Agreement has contributed effectively to the two countries’ tradeas well as the flow of their investment capital, with the two-way tradevalue rising nearly five-folds from 10.4 billion Singaporean dollars in2005 to over 50 billion Singaporean dollars in 2009.
According to the Foreign Investment Agency (FIA), by February this yearSingaporean investors have had 792 valid projects with a totalregistered capital of 17.3 billion USD, ranking fifth among foreigninvestors in Vietnam .
The FIA provided that up to 88 percent of Singaporean registeredinvestment, or 15 billion USD, have been pumped into the processing andmanufacturing industry, real estate, construction, arts and recreation,services, accommodations and restaurants.
At the conference, the Da Nang Port Co. Ltd and the Singaporean CruiseCentre Pte Ltd (SCCPL) signed a memorandum of understanding ondeveloping the central port of Da Nang into Vietnam ’s largest touristsea port./.
