PM introduces business environment in Singapore

PM Nguyen Tan Dung and representatives of Singaporean businesses. Photo: VGP

He began by highlighting the strong advancement of the two countries’ relations, particularly the two-way trade surged to nearly US$10 billion last year and Singaporean investors are now operating over 1,400 projects with US$33 billion in Viet Nam.

In addition, Viet Nam and Singapore are striving to work towards ASEAN Economic Community by the end of this year.

Regarding Viet Nam, PM Dung said that the country is active in international integration to promote its geographical position in a dynamic East Asia.

Viet Nam is now home to over 18,500 projects worth up to US$260 billion,  joining negotiations on a number of key free trade agreements, including the Trans-Pacific Partnership and the Viet Nam-EU free trade agreement.

Viet Nam is boasts for growing and young population with GDP per capita estimated to reach US$2,200 in 2015, he said.

The economy is projected to expand 6.5% this year, the highest rate since 2011 and total trade volume is forecast to increase to US$350 billion in 2015.

The aforesaid advantages show that Viet Nam is a vast market with great trade and investment potentials, PM Dung stressed.

Speaking at the meeting, Singaporean business representatives said this is a good opportunity for them to learn more about Viet Nam’s business environment and state their clear proposals to the Vietnamese Government./.

By Hai Minh