Vietnamese President Busy in Singapore's Trip

President Nguyen Xuan Phuc and Singapore's former PM Goh Chok Tong. Photo: VNA

President Nguyen Xuan Phuc on Feb. 26 met with former Prime Minister of Singapore Goh Chok Tong, and Senior Minister and Coordinating Minister for National Security Teo Chee Hean, VNA reported Saturday.

President Phuc said that Vietnam highly values the precious support that former PM Goh Chok Tong had given to Vietnam’s socio-economic development since the early 1990s when Vietnam started its international integration and joined the ASEAN, laying firm foundation for the growth of partnership between the two countries.

For his part, Goh Chok Tong expressed his confidence in Vietnam’s bright future, stressing that with political stability and a highly open economy, Vietnam will fulfil its goals for 2030 on the 100th anniversary of the Communist Party of Vietnam, becoming a motivation of the regional economy.

During the meeting with Senior Minister and Coordinating Minister for National Security Teo Chee Hean, President Phuc spoke highly of the important contributions that the Minister has made to the bilateral friendship and cooperation between Vietnam and Singapore.

Teo said he is pleased at the positive development of the defence and security partnership between the two countries, and affirmed that Singapore will continue to work closely with Vietnam in important areas such as justice assistance and cybersecurity, while sharing with Vietnam its experience in transformation, population data management and response to cyber crimes.

Phuc proposed that the two officials continue to support Vietnam and help with the promotion of the Vietnam-Singapore strategic partnership across all fields, especially in 2023 when the two countries celebrate the 50th anniversary of bilateral diplomatic ties and 10 years of their strategic partnership.

President Nguyen Xuan Phuc on the same day received executives of leading Singaporean firms in different areas such as finance, infrastructure and energy, including United Overseas Bank Ltd, DBS Bank, CapitaLand Group, Temasek Group, and Singapore Manufacturing Federation

President Nguyen Xuan Phuc (R) meets General Director of Capitaland. Photo: VNA

Meeting leaders of United Overseas Bank Ltd (UOB), the Vietnamese State leader welcomed the bank's commitment to engage deeper into the Vietnamese country’s market investment.

He said Vietnam is giving priority to developing green and sustainable finance, and proposed that the UOB cooperate with Vietnamese State agencies to promote digital transformation in the areas of finance and credit.

At the reception for leaders of DBS Bank, President Phuc hailed the bank’s investment in finance-banking sector of Vietnam through digital platforms.

Noting that during his visit, he and Singaporean leaders have agreed to encourage the strengthening of bilateral economic connectivity through digital platforms, he suggested that DBS coordinate with the Vietnamese side to speed up cooperation between the two countries in the field.

At his meeting with leaders of CapitaLand Group, the President recommended that the real estate firm expand its investment in ecological industry, smart city, green urban areas and logistics, which are prioritised sectors that Vietnam is calling for investment in.

CapitaLand Development (CLD) also has signed a Memorandum of Understanding (MoU) with the People’s Committee of Bac Giang province to explore the development of CLD’s first industrial park, logistics park and township development in Vietnam with a total projected investment value of US$1 billion (VND22.7 trillion).

Receiving leaders of Temasek Group, Phuc welcomed the firm’s investment in Vietnam’s technology, financial service, consumption, agriculture, logistics and innovation areas. He spoke highly of Temasek’s support for Vietnamese partners, especially startups, proposing that the firm expand its cooperation scale towards green and sustainable development.

Meeting leaders of ACTIS, a leading investment fund in sustainable infrastructure, and Bridgin Power company, President Phuc lauded the firms’ investment of US$250 million in green energy development in Vietnam. He welcomed them to invest in the areas of solar and wind power, LPG and energy port.

Meeting leaders of Changi Airport Group, the leading Singaporean aviation consultation and investment management firm, the President proposed that the firm partner with Vietnamese counterparts in the field, especially in the development of airports meeting standards of regional transport hubs.

He hailed the firm’s partnership with Vietnamese SOVICO Group in developing aviation infrastructure and services as well as in human resources training.

During the meeting with leaders of the Singapore Manufacturing Federation, President Phuc said he hopes that the federation will continue to encourage Singaporean firms to make stronger investment in Vietnam.

He underlined that Vietnam prioritises environmentally-friendly FDI projects with high quality and efficiency, using high technology, especially those in innovation and digital economy.

On the same day, President Nguyen Xuan Phuc had a meeting with staff members of the Vietnamese Embassy and representatives from the Vietnamese community in Singapore.

President Nguyen Xuan Phuc and the Vietnamese delegation laid flowers at the President Ho Chi Minh statue. Photo: VNA

On the same day, President Phuc and the Vietnamese delegation laid flowers at the President Ho Chi Minh statue at the Asian Civilisations Museum.

They also visited the Tengeh floating solar farm, which has been recently launched as part of efforts of Singapore to cut greenhouse gas emissions.

Later the same day, President Nguyen Xuan Phuc, his spouse and the Vietnamese high-ranking delegation left Singapore, concluding the Feb. 24 - 26 visit to the country.

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