Viet Nam, Singapore forge stronger economic ties

April 18, 2015 | 19:00

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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 Viet Nam-Singapore Economic Connectivity in the central province of Thua Thien-Hue yesterday.

Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang at the signing ceremony. Photo Tuong Vi

The annual event focused on reviewing the outcomes of efforts made in six prioritised fields since the last meeting, held in Singapore in April of last year. It also sought ways to foster economic links between the two countries.

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

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

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

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.

VNS

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