The 18th Vietnam-Singapore Economic Connectivity Ministerial Meeting. (Photo: MPI/Vietnam+)
|
Economic, trade, and investment cooperation has always been a bright spot in Vietnam-Singapore relations. On this basis, the 18th Vietnam-Singapore Economic Connectivity Ministerial Meeting was held in Singapore, co-chaired by Minister of Planning and Investment Nguyen Chi Dung and Singapore’s Second Minister for Trade and Industry and Minister of State for Manpower, Mr. Tan See Leng.
The conference discussed economic cooperation activities under five pillars: Connectivity, Energy, Sustainability, Digital Innovation, and Infrastructure.
The 18th conference is particularly important as it is held when the two countries celebrate 50 years of diplomatic relations and 10 years of Strategic Partnership.
Minister of Planning and Investment Nguyen Chi Dung and Singapore’s Second Minister for Trade and Industry and Minister of State for Manpower, Mr. Tan See Leng, co-chaired the conference. (Photo: MPI/Vietnam+)
|
At the conference, both sides reported and exchanged information on some achievements since the 17th Ministerial Conference (in Hanoi, Vietnam, August 2023) up to now, the progress of building a plan to implement the Green-Digital Economic Partnership, and the results of cooperation in the field of innovation.
Accordingly, the two sides discussed orientations to expand cooperation in the field of clean energy, the importance of wind power development projects, the construction of the ASEAN power grid, solutions, and challenges that Singapore faces in the energy transition process, towards a hydrogen economy.
Through this conference, Vietnam affirmed its views and concerns in economic cooperation with Singapore to further deepen the Strategic Partnership between the two countries. Vietnam also requested Singapore to coordinate and implement new initiatives within the framework of the Connectivity Agreement, encourage Singaporean businesses to propose new cooperation, and strengthen investment in Vietnam.
On this occasion, the two sides witnessed the establishment of the Innovation Talent Exchange Program and signed a memorandum of understanding between the Singapore Enterprise Agency and the Foreign Investment Agency (Ministry of Planning and Investment) to establish the Singapore Desk to promote Singaporean investment in Vietnam.
Up to now, Singapore is ranked 2nd out of 146 countries and territories investing in Vietnam. Singaporean companies invest in 18/21 sectors of the Vietnamese economy, mainly in the fields of processing and manufacturing industry, real estate business, electricity and gas production and distribution. In terms of trade, in the first eight months of 2024, the total import and export turnover between Vietnam and Singapore reached 6.8 billion USD, up 12.7% compared to the same period in 2023./.
Hanh Nguyen
The First Impact Investment Fund in Vietnam Joins Hands with the Australian Government to Support Women-Led Small Businesses
With this new initiative, Beacon Fund, in collaboration with Innovation Window’s “Investing in Women” capital, aims to provide tailored financial solutions to small, women-owned businesses.
The First Time: Government Officials Meet with Top Private Sector Enterprises
This morning, September 21st, Prime Minister Pham Minh Chinh chaired a conference with large private enterprises to address challenges and promote their pioneering role in investing in major projects. The aim is to foster economic and social development, with the government taking an active part in facilitating these initiatives.
Attracting Private Enterprise Investment for Infrastructure Projects
We will ensure that the concerns of businesses are addressed in refining and shaping legal frameworks. Our goal is to create an enabling environment for businesses to thrive and actively participate in infrastructure development projects, particularly those related to transportation and logistics.
