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Deputy PM hopes for stronger Vietnam-Singapore cooperation

December 26, 2020 | 08:24

Deputy Prime Minister Truong Hoa Binh expressed his desire for stronger cooperation between Vietnam and Singapore during a reception for outgoing Singaporean ambassador Catherine Wong Siow Ping in Hanoi on Dec. 24.

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Deputy PM hopes for stronger Vietnam Singapore cooperation
Deputy PM Truong Hoa Binh (R) receives outgoing Singaporean ambassador Catherine Wong Siow Ping in Hanoi on Dec. 24. Photo: VGP

Deputy PM Truong Hoa Binh spoke highly of the fine development of the strategic partnership between Vietnam and Singapore over the years, noting bilateral relations have flourished in various areas, from politics and diplomacy to economics, culture, and education-training, according to VOV.

Economic cooperation is a bright spot in bilateral relations, he said, adding Singapore is now one of the leading foreign investors in Vietnam. The system of Vietnam-Singapore Industrial Parks (VSIP) industrial parks has been increasingly expanded and it has brought about good results.

Deputy PM hopes for stronger Vietnam Singapore cooperation
Vietnam always attaches great importance to and will do its best together with Singapore to bring bilateral cooperation to new heights. Photo: VGP

He thanked the ambassador for her practical contributions to outlining, carrying out, and connecting cooperation activities between Vietnam and Singapore in all fields.

Vietnam always attaches great importance to and will do its best together with Singapore to bring bilateral cooperation to new heights, Binh told his guest.

For her part, Ambassador Catherine Wong Siow Ping said she was impressed by Vietnam’s socio-economic development achievements as well as its increasing role and position in the international arena.

Deputy PM hopes for stronger Vietnam Singapore cooperation
Vietnam-Singapore Industrial Parks (VSIP) Photo: Nhan Dan

She said she believes that both Singapore and Vietnam still hold potential for closer cooperation, especially in economics, trade, and investment.

Singaporean businesses are keen to promote investment cooperation in Vietnam, stated the diplomat. She proposed that the Government of Vietnam create favorable conditions for them to expand operations in the country.

Relations between Singapore and Vietnam have grown from strength to strength since the two countries established bilateral diplomatic relations on 1 August 1973. Bilateral ties, which are excellent and multi-faceted, were elevated to that of a Strategic Partnership in 2013.

In the January-November period, Singapore took the lead among 109 countries and territories investing in Vietnam, with US$8.1 billion or 30.6 percent of the accumulative capital.

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