The 7th Ministerial Meeting on Vietnam-Singapore Connectivity was held on July 4 in Hanoi, where cooperative measures and models were exchanged to deepen bilateral economic ties and further boost economic connectivity between the two countries.
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The 7th Ministerial Meeting on Vietnam-Singapore Connectivity, Hanoi July 4, 2011
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The meeting was a periodical activity held under the Vietnam-Singapore Agreement on Economic Connectivity (VSAEC), which was signed in 2005 with the focus on six fields, including finance, education and training, transportation, IT and communications, investment, trade and services.
During the meeting, co-chaired by Vietnamese Minister of Planning and Investment Vo Hong Phuc and Singaporean Minister of Industry and Trade Lim Hng Kiang, the two sides informed each other about the outcomes of their cooperation on the six fields since the previous meeting which took place in Singapore in November 2010.
Vietnam affirmed its viewpoints and interests in better economic ties with Singapore, recommending that Singapore encourage their businesses to strengthen footholds in Vietnam for mutual benefits, said Minister Phuc.
Minister Phuc also stressed that Vietnam welcomes Singaporean businesses to partake in technological transfer and assist projects on IT and business administration training in Vietnam.
The two sides also talked about the facilitation of banks’ opening of branches in one another.
The next meeting was scheduled to take place in Singapore later this year.
It has been reported that Singapore is the second largest investor in Việt Nam in the first half of 2011.
The Vietnam-Singapore Ministerial Meeting on Economic Connectivity is organized annually to review the implementation of the signed commitments and to map out programs for cooperation in the future./.