Hanoi (VNA) – Prime Minister Pham Minh Chinh andhis visiting Singaporean counterpart Lee Hsien Loong on August 29 attended aconference in Hanoi to discuss measures aimed at speeding up Vietnam-Singapore joint projects.

The event, drawing more than 500 delegates from ministries,sectors, localities and businesses of Vietnam and Singapore, noted thatcurrently Singapore ranks first among the ASEAN member states and second among the 143countries and territories investing in Vietnam with 3,274 valid projects worth73.5 billion USD.

Vietnam-Singapore Industrial Parks (VSIPs) are a symbol of the fruitful economic partnership between the two sides, participants underlined.

Meanwhile, Vietnam is running 153 investment projects inSingapore with a total investment of more than 690 million USD, ranking 10th among the 80 foreign investors in the Southeast Asian country.

Two-way trade hit 9.15 billion USD in 2022 and 4.5 billionin the first six months of 2023. The two sides have set up their partnership indigital economy and green economy, which allows them to strengthen cooperationin new areas in green and sustainable directions.

PM Lee said that 2023 is an importantyear for the two sides with the 50th anniversary of theVietnam-Singapore diplomatic relations and the 10th anniversary of the bilateral strategic partnership.

Recalling his memory of the launch of the first VSIP inVietnam 10 years ago, the Singaporean PM noted that so far, 17 VSIPs have beenconstructed in many localities across Vietnam. The many newcooperation projects to be signed and to receive investment licences during this conference manifest the sound partnership between the two countries, he held.

Underlining the significance of governmental support to the success of investors and businesses of each country, he said he hopes the administration at all levels will continue to back enterprises andinvestors, contributing to promoting the strategic partnership between Vietnamand Singapore.

PM Chinh showed his pleasure at the growth ofthe Vietnam-Singapore partnership amid the complicatedly changing world anddifficult economic situation.

He said that Vietnam is focusing onboosting development basing on three major pillars of building rule-basedsocialist state, building socialist democracy, and developingsocialist-oriented market economy, during which the people is put at thecentre, adding the country is also concentrating on implementingthree strategic breakthroughs in institution, human resources andinfrastructure.

Regarding future cooperation orientations, PM Chinh said hehopes Singapore will continue to support Vietnam in accessing mobilityinvestment sources as well as green and sustainable financial sources, whileupgrading and expanding the cooperation scale and promoting the efficiency of bilateralcollaboration in connecting the two economies, and strongly facilitatingcomprehensive partnership in innovation, startup assistance, and high-quality humanresources development.

The leader proposed the implementationof a roadmap for energy transition in a fair manner, focusing on new andrenewable energy sectors, as well as the expansion of the VSIP model, headingto the formation of industrial - innovation - urban - service - high-techecosystems in many localities.

He affirmed that the Vietnamese Government will continue tocreate optimal conditions for businesses, including those from Singapore, toinvest and operate effectively and sustainably for a long term in Vietnam inthe spirit of harmonised interest and shared risk.

At the event, the two PMs witnessed the launch ofthe Vietnam-Singapore Innovation Centre in Binh Duong, as well as theannouncement of decisions allowing a number of activities to explore maritime resourcesand infrastructure development for the export of electricity from Vietnam toSingapore, and a cooperation agreement on the development of 12 new VSIP projects incities and provinces across Vietnam. They also kickstarted some projects,including VSIP Can Tho, VSIP Bac Ninh 2 and VISIP Nghe An 2./.