NA Chairwoman Nguyen Thi Kim Ngan speaks at the Vietnam-Singapore Business Dialogue. 

The top legislator made the pledge when addressing the Vietnam-Singapore Business Dialogue on November 27 as part of her official visit to Singapore. 

Vietnam will continue to create the best possible business environment towards standards set by the Organisation for Economic Cooperation and Development (OECD), she said.

She added that Vietnam is working to improve the country’s competitive edges by developing infrastructure and financial systems, improving the quality of human resources and facilitating all economic sectors to economic growth, with a focus on the private economic sector. 

NA Chairwoman Ngan highlighted that the country is focusing on completing its legal framework for the Public-Private Partnership (PPP) model in infrastructure development. She said Vietnam will soon announce a list of priority PPP projects and called on Singaporean investment funds and groups to invest in those projects. 

At the same time, the country is promoting start-up and connecting the domestic start-up ecology with the region and the world with the aim of creating the most favourable conditions for foreign investors, including those from Singapore, to invest in Vietnamese start-ups, she noted. 

Vietnam encourages Singaporean businesses to invest in the country through venture investment funds, share experience and connect Vietnamese firms with the global economy, the NA Chairwoman stressed. 

She noted that as part of its efforts to integrate into the world, Vietnam has signed 12 free trade agreements (FTAs) and is negotiating four new-generation agreements. As a result, the country has served as an important link of an economic network of 55 countries, including many members of the Group of 20 (G20) and the Group of Seven (G7), she said. 

Douglas Foo, President of the Singaporean Manufacturing Federation (SMF) described Vietnam as an attractive destination to businesses from not only Singapore but other countries and territories in the region and the world. 

He singled out several fields with great potential for bilateral cooperation such as education-training, digital economy and e-commerce. 

Singaporean Minister of Trade and Industry Lim Hng Kiang said the Vietnamese Government’s growth-facilitating policies have helped raise confidence of foreign investors. 

The minister expressed his hope that Vietnamese and Singaporean businesses will have more opportunities to cooperate with each other following the dialogue. 

Singapore is Vietnam’s largest trade partner in ASEAN and the sixth largest in the world, with annual two-way trade revenue exceeding 7 billion USD. 

Singapore is also the third largest foreign investor in Vietnam, with the most noteworthy being the Vietnam-Singapore Industrial Park (VSIP) chain which has been present in the country for more than 20 years. 

Besides, progress has also been made in bilateral cooperation in science-technology, tourism, culture, sports and education. 

At the dialogue, a memorandum of understanding on cooperation was signed by the People’s Committee of Vietnam’s central Da Nang city and the SMF.

NA leader meets Singaporean PM

National Assembly Chairwoman Nguyen Thi Kim Ngan had a meeting with Singaporean Prime Minister Lee Hsien Loong on November 27 as part of her ongoing official visit to Singapore.

The top legislator thanked PM Lee for attending and contributing to the success of the APEC Economic Leaders’ Week that Vietnam hosted earlier this month.

She spoke highly of his support to the progress of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a deal replacing the Trans-Pacific Partnership (TPP).

PM Lee showed his delight at the fruitful outcomes of the APEC Economic Leaders’ Week, while lauding Vietnam’s efforts to overcome natural disaster to successfully organise the event.

NA Chairwoman Nguyen Thi Kim Ngan told her host that her visit aims to deepen the strategic partnership between the two countries as well as the two parliaments in particular.

She affirmed Vietnam’s consistent policy of treasuring the development of the strategic partnership with Singapore, proposing that the two sides work harder together to implement the ties.

She suggested that both sides maintain high-level meetings, while strengthening people-to-people contacts to prepare for the celebration of the 45th anniversary of bilateral diplomatic relations in 2018.

She noted that two-way trade has reached nearly 10 billion USD, and Singapore is Vietnam’s third largest foreign investors with total investment over 40 billion USD, adding that the Vietnam-Singapore Industrial Parks have become the symbol of successful and win-win cooperation between the two countries.

Meanwhile, collaboration in security, defence, education-training, tourism, labour has also expanded, she said.

Highlighting the close coordination and cooperation between the two countries at regional and international forums, especially within the ASEAN framework, the NA leader said that Vietnam supports and will work with Singapore in performing the role as ASEAN Chair in 2018 as well as the Coordinator of the ASEAN-China relations.

Regarding the East Sea issue, Ngan stressed that Vietnam highly values Singapore’s stance, expressing her belief that as the ASEAN Chair in 2018, Singapore will continue raising its voice in the issue, and accelerate the building of a Code of Conduct in the East Sea (COC).

PM Lee said that Singapore hopes to receive assistance of Vietnam in performing the role as the ASEAN Chair in 2018, adding that Singapore will do its best to deal with existing problems of ASEAN, including the building of the COC.

Singapore will stick to roadmap of building the COC, he said, stressing the consensus among members of the association. It is now the good time to start COC negotiations, he added.

Asserting that economic cooperation potential between the two countries is still high, PM Lee thanked Vietnam for backing Singaporean enterprises. 

He proposed that the two sides should open additional direct air routes to boost economic, trade and tourism affiliations and implement signed agreements.

National Assembly Chairwoman meets Singaporean President

National Assembly Chairwoman Nguyen Thi Kim Ngan suggested Vietnam and Singapore maintain meetings and visits at all channels and levels, while joining hands to celebrate the 45th anniversary of bilateral diplomatic ties in 2018. 

The top Vietnamese legislator made the suggestion during her meeting with Singaporean President Halimah Yacob on November 27 as part of her official visit to the country. 

Highlighting the fruitful political ties between Vietnam and Singapore, NA Chairwoman Ngan said progresses have also been made in cooperation in trade, investment, national defence and security, culture and people-to-people exchange. 

The Vietnam-Singapore Industrial Park (VSIP) has become a symbol of successful and mutually beneficial cooperation between the two countries, she said, describing Singapore as Vietnam’s leading trade and investment partner, and a country which has trained many Vietnamese students. 

The chief legislator underscored Halimah Yacob’s contributions to legislative ties between Vietnam and Singapore in her capacity as Singapore’s Parliament Speaker in the past, saying the two sides have regularly exchanged high-level delegations, information and experience. 

She expressed her hope that President Halimah Yacob will contribute more to the relations between the two parliaments, thus helping deepen the strategic partnership between the two countries. 

The NA Chairwoman extended President Tran Dai Quang’s invitation to President Halimah Yacob to visit Vietnam on the occasion of the 45th anniversary of bilateral diplomatic ties in 2018. 

In reply, President Halimah Yacob praised Vietnam’s efforts in successfully hosting the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Week in the central city of Da Nang from November 6-11. 

She also applauded outcomes of cooperation between Vietnam and Singapore across spheres, especially in economy, saying Singapore is Vietnam’s third largest investor. 

The President used the occasion to call for Vietnam’s support for Singapore as the rotating Chair of the Association of Southeast Asian Nations (ASEAN) in 2018. 

Stressing Vietnam’s role in advancing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), formerly known as the Trans-Pacific Partnership (TPP) Agreement, Halimah Yacob said concerned parties should continue to concretise the deal for early approval and implementation, thus benefiting Vietnam, Singapore and other signatories. 

The President noted her hope that Vietnamese and Singaporean firms will seek business opportunities during NA Chairwoman Ngan’s visit. 

She called on the two countries to step up cooperation within ASEAN, informing that ASEAN 1018 will take the theme of resilience and innovation. 

Halimah Yacob also underlined the need for ASEAN to enhance intra-bloc cooperation to deal with common issues and speed up the formation of a Code of Conduct in the East Sea (COC). 

She said apart from political, economic and cultural links, people-to-people exchange also plays an important role, adding that many Singaporeans now want to visit Vietnam.

Top legislator hails Singaporean firms’ cooperation initiatives

Vietnamese National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan has applauded Singaporean businesses’ new initiatives to boost cooperation with Vietnam.

Vietnamese National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan has applauded Singaporean businesses’ new initiatives to boost cooperation with Vietnam in the fields of urban upgrading, infrastructure, education, resort building, airport connections and agriculture.

Ngan made the remarks at a meeting on November 27 with representatives of Singaporean enterprises which are investing in Vietnam, as part of her official visit to the country.

Singapore is always an important partner of Vietnam, she affirmed, adding that the island country is currently the 9th largest trade partner and 3rd biggest foreign investor of Vietnam.

The top legislator said domestic and FDI businesses are billed as a driving force to foster Vietnam’s economic growth, improve its national competitiveness and renovate its growth model.

As Vietnam and Singapore still hold huge potentials for cooperation, the Vietnamese NA pledges to promulgate preferential policies for foreign investors, including those from Singapore, she said.

The legislature will ask the Prime Minister to order ministries, sectors and localities to tackle petitions raised by Singaporean enterprises, thereby helping promote trade and business cooperation between the two countries, Ngan affirmed.

On behalf of the Singaporean business delegation, Wong Kan Seng, Chairman of Ascendas-Singbridge Corporation, welcomed the NA delegation and congratulated Vietnam on its successful hosting of the APEC 2017 Economic Leaders’ Week in Da Nang.

Earlier, NA Chairwoman Nguyen Thi Kim Ngan and the delegation laid flowers in tribute to President Ho Chi Minh at his statute in the Asian Civilisation Museum.

VN, Singapore to develop medical waste project

Representatives of NewTech and Singapore’s Wah Lee Tech sign a Letter of Intent (LOI) for construction on a medical waste treatment plant and development of hi-tech services in Vietnam 

Vietnamese import-export firm NewTech and Singapore’s Wah Lee Tech have signed a Letter of Intent (LoI) on the construction of a medical waste treatment plant in Vietnam.

A source from NewTech told that the LoI, which was signed in Singapore on November 26, details building a hazardous medical waste treatment plant with capacity of 20 tonnes per day.

It said the two sides agreed to establish a joint-venture company, of which the Vietnamese side took a 51 percent share, to develop a plant in HCM City, Hanoi or Da Nang, and a high-tech service related to waste treatment.

The plant will use updated technology in medical waste treatment without burning, dumping or pollution measures.

According to the LoI, the two sides will survey the three biggest cities in Vietnam to build the plant on an area of 8,000sq.m.

VNA