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Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong at the event (Photo: SGGP) |
The event, drawing more than 500 delegates from ministries, sectors, localities, and businesses of Vietnam and Singapore, noted that Singapore currently ranks first among the ASEAN member states and second among the 143 countries and territories investing in Vietnam with 3,274 valid projects worth US$73.5 billion.
Vietnam-Singapore Industrial Parks (VSIPs) are a symbol of the fruitful economic partnership between the two sides, participants underlined.
Meanwhile, Vietnam is running 153 investment projects in Singapore with a total investment of more than $690 million, ranking 10th among the 80 foreign investors in the Southeast Asian country.
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The announcement of MoUs on investment cooperation between Vietnam and Singapore. (Photo: SGGP) |
Two-way trade hit $9.15 billion in 2022 and $4.5 billion in the first six months of 2023. The two sides have set up their partnership in the digital economy and green economy, which allows them to strengthen cooperation in new areas in green and sustainable directions.
PM Lee said that 2023 is an important year for the two sides with the 50th anniversary of the Vietnam-Singapore diplomatic relations and the 10th anniversary of the bilateral strategic partnership.
Recalling his memory of the launch of the first VSIP in Vietnam ten years ago, the Singaporean PM noted that so far, 13 VSIPs have been constructed in many localities across Vietnam. The many new cooperation projects to be signed and to receive investment licenses during this conference manifest the sound partnership between the two countries, he held.
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Prime Minister Pham Minh Chinh, Singaporean Prime Minister Lee Hsien Loong, and other delegates launch VSIP projects in different localities (Photo: SGGP) |
Underlining the significance of governmental support to the success of investors and businesses of each country, he said he hopes the administration at all levels will continue to back enterprises and investors, contributing to promoting the strategic partnership between Vietnam and Singapore.
PM Chinh showed his pleasure at the growth of the Vietnam-Singapore partnership amid the complicatedly changing world and difficult economic situation.
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Singaporean Prime Minister Lee Hsien Loong speaks at the event. (Photo: SGGP) |
He said that Vietnam is focusing on boosting development based on three major pillars of building a rule-based socialist state, building a socialist democracy, and developing a socialist-oriented market economy, during which the people is put at the center, adding the country is also concentrating on implementing three strategic breakthroughs in institution, human resources and infrastructure.
Regarding future cooperation orientations, PM Chinh said he hopes Singapore will continue to support Vietnam in accessing mobility investment sources as well as green and sustainable financial sources while upgrading and expanding the cooperation scale and promoting the efficiency of bilateral collaboration in connecting the two economies, and strongly facilitating comprehensive partnership in innovation, startup assistance, and high-quality human resources development.
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Prime Minister Pham Minh Chinh addresses the conference. (Photo: SGGP) |
The leader proposed the implementation of a roadmap for energy transition in a fair manner, focusing on new and renewable energy sectors, as well as the expansion of the VSIP model, heading to the formation of industrial - innovation - urban - service - high-tech ecosystems in many localities.
He affirmed that the Vietnamese Government will continue to create optimal conditions for businesses, including those from Singapore, to invest and operate effectively and sustainably for the long term in Vietnam in the spirit of harmonized interest and shared risk.
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At the event (Photo: SGGP) |
At the event, the two PMs witnessed the launch of the Vietnam-Singapore Innovation Centre in Binh Duong, as well as the announcement of decisions allowing a number of activities to explore maritime resources and infrastructure development for the export of electricity from Vietnam to Singapore, and a cooperation agreement on the development of 12 new VSIP projects in cities and provinces across Vietnam. They also kick-started some projects, including VSIP Can Tho, VSIP Bac Ninh 2, and VISIP Nghe An 2.
