Vietnam, Singapore forge stronger economic links

Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang co-chaired the 11th Ministerial Meeting on Vietnam-Singapore Economic Connectivity in the central province of Thua Thien-Hue on April 17.

Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang co-chaired the 11th Ministerial Meeting on Vietnam-Singapore Economic Connectivity in the central province of Thua Thien-Hue on April 17.

Minister Bui Quang Vinh and Minister Lim Hng Kiang at the meeting. Source: VNA

The annual event focused on reviewing the outcomes of bilateral cooperation in six prioritised fields since the previous meeting held in Singapore in April of last year, while also seeking measures to further foster economic links between the two countries.

The Vietnamese side proposed Singapore continue encouraging its businesses to invest in Vietnam in new cooperation areas, expanding the bilateral partnership for mutual benefit.

The meeting is part of the Vietnam-Singapore Economic Connectivity Agreement signed by the two governments in 2005. The deal focuses on the six main areas of finance, education and training, transport, information technology and communications, investment, and trade and services.

During the event, the Vietnam National Administration of Tourism and the Singapore Tourism Board signed a memorandum of understanding on tourism collaboration.

At the same time, the Ministry of Planning and Investment’s Foreign Investment Agency and Singapore’s UOB Bank also signed a memorandum of understanding on investment promotion cooperation.