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  • 04/10/2016
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Singapore keen on investing Vietnam

On September 30, Speaker of the Singaporean Parliament Halimah Yacob has called for further investing in Vietnam during a meeting with her Vietnamese counterpart Nguyen Thi Kim Ngan on the sidelines of the 37 th General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA-37).

singapore keen on investing Vietnam

The Speaker also congratulated Vietnam on successfully holding the election of deputies to the 14 th NA and the People’s Councils at all levels for 2016-2021. On the occasion, she also invited Ngan to visit Singapore in the near future.

National Assembly Chairwoman Ngan, for her part, spoke highly of the growing ties between the two countries, as seen in the regular exchange of visits, most recently Singaporean Deputy Prime Minister Teo Chee Hean’s trip to Vietnam to attend the 20 th founding anniversary of the Vietnam-Singapore Industrial Park (VSIP). She suggested that the two legislatures continue working closely together in the future, especially at the regional and global forums.

At the meeting, the two sides expressed delight at the strong growth of bilateral ties recently, especially in investment, trade and education and training. Singapore is currently the third largest investor of Vietnam with over 1,600 projects totalling 38 billion USD. The two countries have enjoyed sound partnership in education and training, with various student exchange programmes and training courses for management officials.

They have also boosted tourism affiliation on the foundation of a memorandum of understanding signed between their Tourism Administrations at the previous meeting. Noting great potential for the two countries to expand their economic coope ration potential, he said he hopes that both sides will work more closely together to fully tap the potential in order to deepen their strategic partnership.

During the meeting, the two sides also proposed measures to increase two-way trade and call for Singaporean investment in Vietnam’s agriculture, aquatic farming and transportation. Vietnam suggested that Singapore continue supporting education projects and increase scholarships for Vietnamese students, as well as boost cooperation in cyber security and startup.

Singapore should expand investment in the public-private partnership form in such fields as infrastructure, maritime transportation and energy. The Vietnam-Singapore economic connectivity agreement was signed by the two governments in 2005, focusing on six areas of finance, education and training, traffic and transportation, information technology and communications, investment, trade and services.

(Via: HanoiTimes)

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