The Vietnamese PM and President Joko Widodo shared the joy over the mutual trust and close ties between the two countries in the framework of their strategic partnership. They welcomed the outcomes of the third session of the Vietnam – Indonesia Bilateral Cooperation Committee at foreign ministerial level in Hanoi on April 17, which outlined the major directions for bilateral cooperation across the fields, including pushing for the completion by the end of this year of a plan of action for the bilateral strategic partnership in 2019-2023, so that it can be implemented at the beginning of 2019. 

The two leaders stressed the need to work for the target of 10 billion USD in bilateral trade and assigned relevant agencies to conduct negotiations and sign agreements necessary for achieving the target as early as possible.

President Widodo welcomed measures suggested by PM Phuc to bolster bilateral cooperation, including the signing of agreements on trade, agro-fisheries, defence-security and anti-crime. 

PM Phuc thanked Indonesia for its active cooperation with Vietnam in returning Vietnamese fishermen, and asked Indonesia to continue handling the issue in line with the ASEAN spirit of friendship, humanitarianism and solidarity as well as the Vietnam-ASEAN strategic partnership.
 
The Indonesian President thanked Vietnam for its support of Indonesia’s initiative on organizing a meeting of ASEAN leaders on the sidelines of the Annual Meetings 2018 of the International Monetary Fund (IMF) and the World Bank (WB) slated for October 11 this year in Bali, Indonesia. He repeated an invitation to PM Phuc to attend the Meetings.

The two leaders also discussed several international and regional issues of mutual concern, including mutual support regarding matters related to the regional architecture, non-conventional security issues, cooperation and security on the East Sea and regional waters, the fight against pirate and crime, and illegal fishing. 

They agreed to continue coordinating stance at regional and international forums, especially in the ASEAN.
 

Talking to the Myanmar President, PM Phuc affirmed that Vietnam supports the Myanmar Government in the process of national reconciliation and harmony.

The two leaders expressed satisfaction about the traditional friendship between the two countries during the past over 40 years since the establishment of diplomatic ties in 1975. They agreed that the elevation of bilateral ties to a comprehensive strategic partnership on the occasion of the State visit to Myanmar by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong had turned a new page in their cooperation. 

They shared the view that bilateral political ties had grown closer through maintaining high-level exchanges and contact, while economic, trade and investment ties have deepened with Vietnam having become the 7th biggest foreign investment in Myanmar and the 11th biggest trade partner of Myanmar. 

Bilateral cooperation in security-defence has been strengthened, meeting the needs of both sides, and the expansion of cultural, sport, educational linkages and people-to-people exchange has contributed to enhancing mutual understanding and the traditional friendship between the two countries. ,

PM Phuc said the two sides should act to implement the outcomes achieved during the recent official visit to Vietnam by Myanmar State Counsellor Aung San Suu Kyi. He also asked the Myanmar Government to create favourable conditions for businesses of both countries to expand links and for Vietnamese firms to invest in Myanmar. 

President Win Myint pledged that the Myanmar Government would adopt open policies to attract foreign investment, including investment from Vietnam, and urged more Vietnamese companies to invest and do business in Myanmar. 

Regarding regional and international issues, the two sides affirmed their intention to coordinate closely within ASEAN to consolidate intra-bloc solidarity and promote ASEAN’s central role. They agreed to continue cooperating closely with each other and with other countries in the framework of the Cambodia-Laos-Myanmar-Vietnam (CLMV) mechanism and the Ayeyarwady-Chao Phraya-Mekong Economic  Cooperation Strategy (ACMECS).

They shared the common stance of ASEAN on effectively implementing the Declaration on the Conduct of Parties in the East Sea (DOC) and striving for the early completion of an effective and legally-binding Code of Conduct (COC). 

Later the same day, PM Nguyen Xuan Phuc and his entourage left Singapore, concluding his trip for an official visit to the country and to attend the 32nd ASEAN Summit at the invitation of Singaporean PM Lee Hsien Loong.

PM joins round-table discussion with international firms

PM Nguyen Xuan Phuc and leaders of Singaporean-based conglomerates pose for a group photo 

Prime Minister Nguyen Xuan Phuc attended a round-table discussion with 16 leaders of Singaporean-based conglomerates on April 28, as part of his official visit to Singapore.

Addressing the function, the PM gave an overview of the Vietnamese economy to the business executives. 

Vietnam posted a ten-year high growth rate in the first quarter of 2018, he said, adding that the country’s market has been increasing its openness, hence it is now a favourable time for foreign investment. 

Average per capita income of the 93-million Vietnamese population is about 2,400 USD with the middle class accounting for 13 percent, resulting in increasing purchasing power. 

Phuc also mentioned a report by the World Bank at the end of 2017, which ranked the Vietnamese business climate at 68th among 190 countries, up 30 places against 2012. Also in 2017, the World Economic Forum ranked Vietnam 55th among 137 surveyed countries in terms of competitiveness. The country is a bright spot in FDI attraction in the region with 320 billion USD worth of foreign direct investment. Its foreign trade surpassed 425 billion USD last year. Vietnam is now member of 12 new-generation free trade agreements.

The PM said these results reflected the appeal of the Vietnamese market and international investors’ confidence in the market. He reiterated Vietnam’s commitment to creating more favourable conditions for foreign investors.

The Government leader unveiled Vietnam’s plan to build three special administrative-economic zones with a host of incentives for investors, telling the round-table’s participants that there are many opportunities for them. He also urged the multinational groups to speed up their projects in Vietnam in line with the law.

At the discussion, participating firms expressed their impression on Vietnam’s economic achievement, particularly its efforts to reform and take part in international commitments.

They said they are interested in a range of fields, including health services, online education, and online payment for farmers. They asked the Vietnamese Government to remove policy bottlenecks, improve the capital market, enhance the linkages among economic sectors, and to simplify customs procedure via the single-window mechanism.

Also joining the discussion, officials of Vietnamese public agencies and sectors fielded questions and recommendations by the international business executives.

They stressed that Vietnam is working to remove policy obstacles in sectors where the State used to hold the monopoly.

Also on April 28, the Vietnamese PM received Christian Cabrol, Senior Vice President of the multinational integrated oil and gas company Total’s Marketing & Services for Asia Pacific & Middle East.

PM Nguyen Xuan Phuc and Christian Cabrol, Senior Vice President of the multinational integrated oil and gas company Total’s Marketing & Services for Asia Pacific & Middle East (Photo: VNA)

PM Phuc suggested Total, which has become a popular brand in Vietnam, expand its operation in the country.

Christian Cabrol said his company has operated in Vietnam since 1990 and now employs about 1,000 locals to supply the market with oil and liquefied petroleum gas (LPG). 

He said the group is now paying attention to the production of LPG and electricity in Vietnam and is willing to collaborate with local partners, adding that the group is proposing the construction of a number of port infrastructure to receive LPG products.

Lauding Total’s expansion plan in Vietnam, Phuc said Vietnam welcomes Total’s intention to work with Vietnamese partners to build infrastructure to receive LPG product. He encouraged the group to further engage in information exchanges with Vietnamese partners such as the PetroVietnam and Electricity of Vietnam.  

Phuc tasked the Ministry of Industry and Trade with studying Total’s recommendations.

VNA