PM Dung affirmed that the two countries’ Governments, ministries and sectors have actively carried out coordination mechanisms to step up comprehensive cooperation, principally in trade, economics and investment. Singapore’s direct investments in Vietnam have continually increased over recent years, hitting nearly US$33 billion.
The VSIP model has also been successfully implemented in Vietnamese localities, helping link the two economies and developing the bilateral strategic partnership more practically and effectively, Dung said. The Government leader expressed his hope that the freshly-established VSIP in Nghe An would benefit both sides and serve as a foundation for the sustainable development of the province and the country as a whole. The Vietnamese Government will create the most favourable conditions for foreign firms, including those from Singapore, to run long-term investment and business in Vietnam, Dung assured his guest.
Minister Lim Hng Kiang for his part said that Singapore’s Government and businesses always pay attention to promoting investment in Vietnam, adding that they will redouble effort to effectively implement the VSIP Nghe An project. The Singaporean minister is in Vietnam to attend the ground-breaking ceremony of the Vietnam-Singapore Industrial Park (VSIP) in Nghe An province.
