Prime Minister Nguyen Xuan Phuc expressed wish to raise two-way trade with Singapore from the current level of nearly 8 billion USD during a meeting with his Singaporean counterpart Lee Hsien Loong in Beijing on April 26.
Prime Minister Nguyen Xuan Phuc (R) and his Singaporean counterpart Lee Hsien Loong
The meeting took place on the occasion of their attendance to the second Belt and Road Forum for International Cooperation (BRF).
Both sides expressed their delight that economic, trade and investment links are always a bright spot in bilateral relationship. Singapore remains the third largest foreign investor in Vietnam while Vietnamese firms have invested in Singapore with over 100 projects worth nearly 300 million USD.
Singaporean PM Lee spoke highly of Vietnam’s potential and strengths, especially its young workforce capable of mastering modern technology.
Singapore will encourage firms to enhance investment in infrastructure, smart urban development, hi-tech areas, seaports exploitation and management in Vietnam, Lee said.
They agreed to promote connectivity, especially in pillar fields of science-technology and innovation; launch projects such as the Vietnam – Singapore Industrial Park in the central province of Quang Tri, software park No.2 in the central city of Da Nang and the national innovation centre; and share experience in building e-government.
The two PMs discussed regional and global issues of shared concern, including joint work to build a strong ASEAN community, especially when Vietnam undertakes the role of ASEAN Chair by 2020.
The leaders wished that parties concerned would step up the implementation of the Declaration on the Conduct of Parties in the East Sea (DOC), build an effective and legally binding Code of Conduct of Parties in the East Sea (COC) in the near future.-VNA