Prime Minister Nguyen Tan Dung attended a roundtable workshop with leading Singaporean businesses in Singapore on August 9 on the occasion of celebrating the host’s 50th anniversary of the Independence Day.

Singaporean entrepreneurs described the event as a golden opportunity to explore the investment cooperation in Vietnam.

The Vietnamese Government leader highlighted the remarkable strides in the Vietnam-Singapore strategic partnership across the board, particularly economics, trade and investment.

He noted that Singapore is among the leading economic partners of Vietnam with two-way trade reaching nearly 10 billion USD last year.

Singapore’s investment into Vietnam has been increasing in recent years, with more than 1,400 valid projects worth over 33 billion USD, he added.

The Vietnam-Singapore Industrial Park (VSIP) is a vivid illustration for the sound and effective cooperation between the two countries, he said.

The PM continued that there remains enormous potential for economic cooperation between the two nations. The Vietnamese Government welcomes and will create favourable conditions for Singaporean firms to boost trade and investment activities in Vietnam in the long run.

He spoke in length the economic situation in Vietnam, revealing that the country is now home to over 18,500 foreign investment projects from 103 countries and territories with capital totaling 260 billion USD.

He added that Vietnam and Singapore are joining efforts to complete the formation of the ASEAN Economics Community by the year-end.

Additionally, with high political resolve, both nations are together with partners to conclude negotiations for the early signing of the Trans-Pacific Partnership Agreement (TPP), he said.

The PM said the engagement in free trade agreements (FTA) has allowed Vietnam to open its trade relations with other 55 countries in the world, including 15 members of the G-20.

He disclosed that Vietnam is taking drastic measures to improve the efficiency and competitiveness of the local economy such as restructuring State-run businesses, banking and finance systems, and public investment.

Simultaneously, the country has continued to improve the market economy institution and business environment in line with the regional and international standards.

Vietnam’s business climate is expected to reach the average level of nations in ASEAN-6 (including Singapore, Malaysia, Thailand, the Philippines, Indonesia and Brunei) this year and in ASEAN-4 (comprising of Singapore, Malaysia, Thailand and the Philippines) in 2016, the PM said.

The PM welcomed Singaporean entrepreneurs to study investment cooperation or expand operation in Vietnam in the fields of logistics, real estate, restaurant, hotel, industrial park development, and maritime transport.

The bilateral cooperation potential in the fields remain high, especially since Vietnam is integrating well into the global economy and the ASEAN Community is going to be formed at the end of this year, he said, adding that the countries’ Governments have been promoting connection activities in the fields.

He confirmed that the Vietnamese Government as well as ministries and departments will take into account proposals of Singaporean investors at the workshop.

The same day, PM Dung received leaders of some top Singaporean businesses such as Sembcorp, Ascendas, and Banyan Tree.

Earlier, right on his arrival in Singapore on August 8, the PM met with officials from the Vietnamese Embassy in Singapore and representatives of the overseas Vietnamese community.

PM holds dialogue with ASEAN Business Club members

The Vietnamese Government always welcomes and will create most favourable conditions for Malaysian investors and those from other ASEAN member nations to operate in Vietnam , Prime Minister Nguyen Tan Dung told members of the ASEAN Business Club (ABC) at a dialogue in Kuala Lumpur on August 8.

At the event, issues related to Vietnam’s policies and investment opportunities in the country were introduced by the Vietnamese leader to ASEAN businesses in general and Malaysian firm in particular.

PM Dung also briefed participants on Vietnam’s economic situation, saying that the country is entering into a new development period with a stable macro-economy, strong growth and curbed inflation.

Vietnam’s GDP increased nearly 6 percent in 2014 and around 6.3 percent in the first two quarters of this year. The figure is forecast to reach 6.5 percent in 2015, he said.

The Prime Minister stressed that Vietnam is focusing on improving investment and business climate throughout promoting the economic restructuring in connection with renovating the growth model, in order to increase the competitiveness of the whole economy, enterprises and products.

The country also pays attention to accelerating administration reform to build a transparent and effective investment environment, while increasing investment in infrastructure development and human resource training to meet the country’s development demand.

According to the Government leader, Vietnam’s participation in the ASEAN Community after it is formed by the end of this year and the signing and realisation of new generation free trade agreements (FTA) with high standards between Vietnam with the European Union and the Trans-Pacific Partnership agreement expected in 2015 will help make Vietnam’s business climate suitable to market principles and international standards in the coming time.

Important legal documents of Vietnam such as the revised Investment Law and Enterprise Law among others will contribute to facilitating domestic and foreign investors’ operation, he added.

During the dialogue, the PM also highlighted fruitful results in bilateral cooperation between Vietnam and Malaysia over the last four decades, affirming that Malaysia is one of Vietnam ’s leading important partners in the fields of investment, trade and tourism.

There are great potentials for the two nations to boost their links in the future, he noted.

He added that the signing of a Joint Statement on establishing the Strategic Partnership between Vietnam and Malaysia during his talk with Malaysian Prime Minister Najib Tun Rajak will create favorable opportunities for closer cooperation between the two sides’ enterprises.

Prime Minister Nguyen Tan Dung is on his two-day official visit to Malaysia , which began on August 7 at the invitation of his Malaysian counterpart Najib Rajak. The visit is expected to lift multifaceted cooperation between the two countries in the time ahead.

On this occasion, the Government leader had a meeting with the Vietnamese Embassy staff and representatives of the Vietnamese community in Malaysia.-

VNA