VN leaders encourage Singaporean investment in Vietnam - FOREIGN AFFAIRS - Liên hiệp các tổ chức hữu nghị

Vietnamese Prime Minister Pham Minh Chinh and State President, while receiving Singaporean Foreign Minister Vivian Balakrishnan in Hanoi o June 21, voiced Vietnam’s commitment to facilitating Singaporean business operations in Vietnam.

During a reception for the visiting Singaporean Foreign Minister, PM Chinh hailed Singapore as one of the top investors in Vietnam.

The Vietnamese PM suggested both sides actively seek new and creative ways in important areas, and soon hold a meeting of a working group to discuss digital economic cooperation.

To effectively boost trade in a balanced manner, Chinh proposed Singapore create more favourable conditions for the import and distribution of several Vietnam’s key goods in the country, including agro-fisheries, processed food, apparel, footwear, new industrial goods such as electric automobiles, electric cable lines, and wooden furniture.

He urged stepping up negotiations and signing of agreements to mutually recognise quarantine standards in agro-fisheries and processed food. He also proposed effectively realising specific terms in Vietnam – Singapore economic connectivity agreement.

Speaking highly of Singapore’s joint work to offer support to Vietnamese citizens living and studying in Singapore during the COVID-19 pandemic, he suggested Singapore share its experience in applying modern technology in tracing, testing and treating COVID-19 cases, boost cooperation in accessing safe and effective vaccines, as well as establish a working group to discuss mutual recognition of vaccine certificates, thus facilitating travel and resuming commercial flights when conditions allow.

The Singaporean FM affirmed that Singapore will actively promote issues of Vietnam’s interest, including trade, investment, digital economy, pandemic response and access to vaccines.

On the East Sea issue, he stated that Singapore attaches importance to ensuring peace, stability, maritime and aviation security and freedom in the East Sea, and rules-based order, including the 1982 United Nations Convention on the Law of the Sea.

The Singaporean Foreign Ministry will actively work with the Vietnamese counterpart to implement leaders’ directions, step up the widespread and substantial development of bilateral strategic partnership based on political trust and common benefits, he said.

While receiving the Singaporean Foreign Minister the same day, State President Nguyen Xuan Phuc suggested both sides facilitate exchanges at all levels in suitable forms amid the pandemic, and proposed ways to effectively realise the Vietnam – Singapore economic connectivity agreement.

The two countries should enhance cooperation in fields of potential and demand such as renewable energy, petrochemicals, liquified natural gas, high-tech agriculture and support industry, and expand joint work to digital economy and transformation, e-commerce and smart urban development, Phuc said.

He called for tapping advantages of free trade agreements, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership while stepping up cooperation and information sharing within the framework of ASEAN initiatives on circular economy to ensure green and sustainable development.

Balakrishnan, for his part, affirmed the Singaporean Government’s consistent stance on further developing strategic partnership with Vietnam. He proposed several measures to boost bilateral ties, including establishing a working group to discuss digital partnership platform and the mutual recognition of coronavirus vaccination certificates.

The Singaporean minister pledged to push forward fields of Vietnam’s interest, including trade, investment, digital economy, pandemic response and access to vaccines, as well as offer mutual support in multilateral and regional mechanisms.