The Vietnam-Singapore strategic partnership is developing strongly and dynamically across all spheres, especially economy, trade and investment, with two-way trade expanding over 23 per cent to reach US$8.3 billion last year.

Prime Minister Phạm Minh Chính on Tuesday called on Singaporean firms to expand their investment in Việt Nam, particularly in technology, strategic infrastructure development, logistics and innovative startups.

At a reception for Singaporean Ambassador Jaya Ratnam and CEO of Temasek Foundation Ng Boon Heong in Hà Nội, Chính noted that the Việt Nam-Singapore strategic partnership is developing strongly and dynamically across all spheres and especially in economy, trade and investment, with two-way trade expanding over 23 per cent to reach US$8.3 billion last year despite COVID-19, and hitting $4.75 billion in the first half of this year.

Singapore has become Việt Nam’s biggest investor in the Association of Southeast Asian Nations (ASEAN) with 2,959 projects worth $69.86 million, ranking second among 139 countries and territories investing in Việt Nam.

Attention should be paid to projects covering the areas of Việt Nam’s priorities and Singapore’s strengths like the digital economy, government, and society, as well as green economy and innovation, he said, urging greater efforts to promote Việt Nam-Singapore industrial parks.

The Vietnamese Government welcomes and stands ready to create favourable conditions for Singaporean businesses to invest in the country, the leader said.

Source: Vietnamnews