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Vietnam willing to faciliate Singaporean investment
Vietnam is willing to create favourable conditions for Singaporean businesses to expand their investments, said Prime Minister Nguyen Tan Dung while meeting with leaders of Singapore’s major groups before leaving for Hanoi on the morning of June 1.
Singaporean groups have praised the major developmental steps accomplished in the 40 years since the two nations established diplomatic ties, which provide a solid foundation for promoting business and investment cooperation.
Vietnam is one of the two Southeast Asian that attracts the largest number of investment projects from Singapore and hosts more than 1,000 projects worth SGD43 billion.
Singapore’s Minister of State for Trade and Industry, Teo Ser Luck, said the successful Vietnam-Singapore Industrial Park (VSIP) model is one of the most prominent manifestations of the two countries’ bilateral cooperation.
PM Dung also briefed Singaporean business leaders on Vietnam’s socio-economic situation focusing on macro-economic stability, lower inflation and stable exchange rates, as well as its sharp increase in foreign currency reserves, reasonable GDP growth and nearly US$40 billion in export earnings in the first fourth months of this year.
Dung praised the promising development of bilateral relations, saying that the Vietnam-Singapore Agreement on Economic Connectivity (VSAEC) will create more opportunities for both sides to increase mutually beneficial cooperation.
Vietnam continues its policy to develop a market economy and become more deeply integrated into the world economy. It is also willing to create favourable conditions for Singaporean businesses to expand their investments.
The Vietnamese government leaders stated his country will continue improving the investment environment with a particular focus on speeding up the Trans-Pacific Partnership Agreement (TPP) negotiations, upgrading social infrastructure to reduce investment costs for foreign investors, and training high-quality human resources to meet the requirements of the new era.
Singapore’ President and Prime Minister also agreed to raise Vietnam-Singapore relations to the level of strategic partnership in all fields, which will add impetus to boosting practical and effective trade and investment cooperation between the two countries, said Dung.
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