Singapore (VNA) –The National Assembly (NA)of Vietnam will issue more incentive policies and work alongside the VietnameseGovernment to facilitate the operation of foreign investors, including thosefrom Singapore, in the country, said NA Chairwoman Nguyen Thi Kim Ngan.

The top legislator made the pledge when addressing the Vietnam-SingaporeBusiness Dialogue on November 27 as part of her official visit to Singapore.

Vietnam will continue to create the best possible business environment towards standardsset by the Organisation for Economic Cooperation and Development (OECD), shesaid.

She added that Vietnam is working to improve the country’s competitive edges bydeveloping infrastructure and financial systems, improving the quality of humanresources and facilitating all economic sectors to economic growth, with afocus on the private economic sector.

NA Chairwoman Ngan highlighted that the country isfocusing on completing its legal framework for the Public-Private Partnership(PPP) model in infrastructure development. She said Vietnam will soon announcea list of priority PPP projects and called on Singaporean investment funds and groupsto invest in those projects.

At the same time, the country is promoting start-up and connecting the domesticstart-up ecology with the region and the world with the aim of creating the mostfavourable conditions for foreign investors, including those from Singapore, toinvest in Vietnamese start-ups, she noted.

Vietnam encourages Singaporean businesses to invest in the country throughventure investment funds, share experience and connect Vietnamese firms withthe global economy, the NA Chairwoman stressed.

She noted that as part of its efforts to integrateinto the world, Vietnam has signed 12 free trade agreements (FTAs) and isnegotiating four new-generation agreements. As a result, the country has servedas an important link of an economic network of 55 countries, including manymembers of the Group of 20 (G20) and the Group of Seven (G7), she said.

Douglas Foo, President of the Singaporean Manufacturing Federation (SMF) describedVietnam as an attractive destination to businesses from not only Singapore but othercountries and territories in the region and the world.

He singled out several fields with great potential for bilateral cooperation suchas education-training, digital economy and e-commerce.

Singaporean Minister of Trade and Industry Lim Hng Kiang said the VietnameseGovernment’s growth-facilitating policies have helped raise confidence offoreign investors.

The minister expressed his hope that Vietnamese and Singaporean businesses willhave more opportunities to cooperate with each other following the dialogue.

Singapore is Vietnam’s largest trade partner in ASEAN and the sixth largest inthe world, with annual two-way trade revenue exceeding 7 billion USD.

Singapore is also the third largest foreign investor in Vietnam, with the mostnoteworthy being the Vietnam-Singapore Industrial Park (VSIP) chain which hasbeen present in the country for more than 20 years.

Besides, progress has also been made in bilateral cooperation inscience-technology, tourism, culture, sports and education.

At the dialogue, a memorandum of understanding on cooperation was signed by thePeople’s Committee of Vietnam’s central Da Nang city and the SMF.-VNA