(MPI) - The Vietnam-Singapore Business Forum took place in Hanoi on October 20 with the participation of Deputy Minister of Planning and Investment Tran Duy Dong, Singaporean Senior Minister of State for Defence and Manpower Zaqy Mohamad and Singaporean Ambassador to Vietnam Jaya Ratnam.

Deputy Minister Tran Duy Dong addresses the event. Photo: MPI

Speaking at the event, Deputy Minister Dong said that the forum, an important activity within occasion of the 50th anniversary of the Vietnam-Singapore diplomatic relations and the 10th anniversary of the bilateral strategic partnership, aims to learn about each other’s investment environment and cooperation opportunities.

Economic cooperation between Vietnam and Singapore has been growing strongly and effectively, in which Singapore is an Vietnam’s leading economic partner in the region with more than 3 thousand valid projects with a total registered capital of over 70 billion USD.

Singapore also ranks second among countries and territories investing in Vietnam, and its businesses have expanded operation in various areas that significantly contributed to the export sector, job creation and capacity improved for workers.

To fully tap opportunities brought by the global economic recovery and the Fourth Industrial Revolution, Deputy Minister Dong suggested the two sides focus on continuing to bolster cooperation within the framework of the Vietnam-Singapore economic connectivity agreement, and the digital and green economy partnership, especially on areas both countries’ strengths. He believed that this will further deepen the bilateral economic ties, creating a spillover effect towards a sustainable future for the region.

The deputy minister also encouraged Singaporean firms, with their experience to help Vietnam develop science and technology, innovation and green, digital, circular and knowledge economy.

Vietnam expects to strengthen cooperation with it partner in policy consulting, transfer of modern technology and new economic models, and attracting investment from potential funds, financial institutions and multinational corporations.

Zaqy, for his part, noted with pleasure that the last 50 years was a comprehensive milestone in Vietnam-Singapore strategic partnership, adding that the two countries should continue working closely to lift its ties to a new height through sharing lessons and introduce investment.

Singapore has potential for cooperation with Vietnam in the areas of both sides’ strengths that can complement and support each other, especially in the context of global supply chains towards carbon neutrality and digital and green economy. He suggested to optimise the capabilities and advantages of the two sides to prosper together and join in the global network./.

Bao Linh

Ministry of Planning and Investment