Vietnam, Singapore hold economic connectivity talks

April 30, 2014 | 09:59

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The tenth Vietnam-Singapore Ministerial Meeting on Economic Connectivity took place in Singapore on April 29 under the chair of Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang.

Minister of Planning and Investment Bui Quang Vinh (left) meets Singaporean Minister of Trade and Industry Lim Hng Kiang in Singapore. - Photo VNA

Minister Vinh said the meeting was a success, with new links established and recently arising problems solved, helping enhance the friendship and bilateral cooperation in all aspects between the two countries.

At the meeting, the two sides focused attention on the six cooperation fields specified in the Vietnam-Singapore Economic Connectivity Agreement, which are finance, education and training, transport, information technology and communications, investment, and trade and services.

The two sides also proposed new models for cooperation, including coordination to develop Phu Quoc Island in Vietnam's southern province of Kien Giang.

The next meeting will be held in Vietnam next April.

According to Minister Vinh, Phu Quoc was an important issue at this event, adding that he has made clear Vietnam's wish to have Singapore as the main partner in technical designing and investment arrangement for the island.

He said the Singaporean side has proposed holding a roundtable conference on investment in Phu Quoc to discuss issues such as planning, infrastructure building and mechanisms for investors.

The minister also said a forum promoting investment in Vietnam held on April 28 had attracted attention from many Singaporean businesses. He stressed that Vietnam should seize the chance and continue to improve its business and investment environment to lure more Singapore investors, who are doing serious business in Vietnam.

Singapore is currently the third largest foreign investor in Vietnam with 1,258 valid projects worth more than US$30 billion.

VNS

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