Deputy Foreign Minister Bui Thanh Son congratulated Singaporean Ambassador to Vietnam
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Deputy Foreign Minister Bui Thanh Son congratulated the ambassador on his honour, saying that it is a recognition of his dedication to fostering the Vietnam – Singapore strategic partnership.
During his tenure, Ng Tech Hean has made significant contributions to promoting bilateral ties on all the Party, government, State, National Assembly and people-to-people exchange channels, as well as accelerating the construction of the Vietnam-Singapore Industrial Park.
The ambassador expressed his delight at the development of bilateral ties across all areas. Economic and trade ties have kept expanding, with Singapore becoming the third largest foreign investor in Vietnam, with a total registered capital of over 36 billion USD in more than 1,500 projects. Over the past few years, total bilateral trade has seen a steady increase. Some components of Vietnamese imports from Singapore are used for further processing into higher value added products for exports. On a global scale, Vietnam recorded its first trade surplus in two decades last year.
The results are driven primarily by the exports of foreign invested enterprises that are bringing a technological boost into Vietnam. Export revenue will continue to grow if strong foreign investment can continue to generate higher-value add. To maintain this momentum, Vietnam must continue to liberalise more its trade and investment regulations and continue to take positive steps towards making the business environment more friendly and conducive for foreign investments. In that regard, it is worthy to note that Singapore is one of the largest investors in Vietnam.
People-to-people exchange and cultural and tourism links have brought about practical results. He hoped that upon returning home, he can still make further contributions to Singapore – Vietnam ties. We help Singapore companies establish business connections on the government, enterprise and community levels as well as play an active role in the Singapore-Vietnam Connectivity Framework Agreement to help Singapore companies invest and participate in Vietnam’s growth.
