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Official Gazette

Thursday, February 23, 2017

Vietnam to foster strategic partnership with Singapore: President

Updated: 09:59’ - 30/08/2016
President Tran Dai Quang has affirmed Vietnam’s policy of treasuring the strategic partnership with Singapore.

He made the statement during talks with Singaporean President Tony Tan Keng Yam on August 29 following a ceremony to welcome his state visit to Singapore in the Istana Presidential Palace.

Both sides expressed pleasure at the growth of bilateral ties since the two countries set up their strategic partnership in 2013. They agreed to strengthen exchanges of high-level and all level delegations to boost cooperation.

President Tran Dai Quang praised Singapore for being the leading trade and investment partner of Vietnam over recent years. President Tony Tan Keng Yam stated that Singaporean enterprises are satisfied with the investment and business environment in Vietnam and wish to expand.

The two sides agreed to foster affiliation in different areas, such as defense, security, education, tourism, culture, and people-to-people exchanges.

The same day, President Quang met Singaporean Prime Minister Lee Hsien Loong who voiced his delight at the growing Singapore-Vietnam strategic partnership.

President Tran Dai Quang meets Singaporean Prime Minister Lee Hsien Loong__Photo: VNA 

The Vietnamese leader appreciated Singapore’s support for Vietnam’s state personnel training. He shared Prime Minister Lee Hsien Loong’s idea to expand bilateral ties in the future for the benefit of both peoples.

The two leaders agreed to speed up the implementation of the Vietnam-Singapore Connectivity Framework Agreement. President Quang welcomed Singapore’s Vice Prime Minister Teo Chee Hean’s visit to Vietnam to attend a ceremony marking the 20th anniversary of the Vietnam-Singapore Industrial Park in Binh Duong province.

Singapore has been one of the top investment and trade partners of Vietnam, with two-way trade reaching USD 9.3 billion in 2015.

The two sides agreed to increase partnership in defense, security, education, tourism and culture.

They also discussed regional and international issues, concurring to continue their coordination and mutual support at regional and world forums, especially in the framework of the ASEAN and the United Nations.

They highlighted ASEAN’s common stance in dealing with disputes in the region, stressing the need to maintain peace, stability and maritime security and safety in the East Sea.

They agreed that disputes in the East Sea should be settled through peaceful measures and were both willing to work with other parties to implement the Declaration on the Conduct of Parties in the East Sea and to form a Code of Conduct in the East Sea.

Prime Minister Lee Hsien Loong declared that he will support Vietnam in the organization of the Asia-Pacific Economic Co-operation Forum Summit in 2017.

Later the same day, addressing the Singapore-Vietnam Business Forum, Quang affirmed that Vietnam wanted to promote the strategic relations with Singapore to a new level, adding that Vietnam encouraged Singapore businesses to invest in projects involving information technology, biology, the environment, infrastructure development, finance-banking, high-quality tourism and services, logistics and education.

Vietnam also encouraged Singapore businesses to boost investment into the country via risk investment funds, information exchange, experience sharing and by helping connect Vietnamese businesses with global markets, he said.

He confirmed that Vietnam is committed to create a favorable, clear and equal business and investment environment for foreign investors, including those from Singapore.

Vietnam applauded Singapore’s opening of its market to Vietnamese farm produce and wanted to bring more Vietnamese products such as consumer products, electronics and components to Singaporean consumers, the President said.

Singaporean Minister of Trade and Industry S. Iswaran said Singaporean investors always kept close watch over the economic situation of Vietnam and have seen positive signs from the country.

Vietnam has made positive steps in improving the investment and business environment and the priorities of the economy of Vietnam met the priorities of the economy of Singapore, he said.

At the forum, the Vietnam Chamber of Commerce and Industry and the Singapore Business Federation signed a Memorandum of Understanding on cooperation and the Joint-Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Government of Singapore Investment Corporation (GIC) singed an agreement on GIC’s purchase of 7.73 percent of shares of Vietcombank.- (VNS/VLLF)
 

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