Singapore Regional Business Forum takes place in Ha Noi

The event saw the participation of Deputy Prime Minister Le Minh Khai, Singaporean Minister for Manpower and Second Minister for Trade and Industry Tan See Leng, Minister of Planning and Investment Nguyen Chi Dung, and representatives from 700 enterprises.

Addressing the event, the Vietnamese Deputy Prime Minister said that Viet Nam-Singapore relationship is at best stage of development ever, adding that 12 Viet Nam-Singapore Industrial Parks (VSIP) have been set up in 9 localities across Viet Nam.

Singapore is currently the second biggest investor in Viet Nam with US$73.4 billion in 3,200 active projects.

Meanwhile, Vietnamese businesses have invested in nearly 150 projects in Singapore with a total registered capital of nearly US$700 million, mainly in professional activities, science and technology.

The Vietnamese Government commits to creating the most favorable environment for both sides' enterprises to operate, heading to meeting the Organization for Economic Co-operation and Development (OECD)'s standards, stated Le.

Remarkably, Viet Nam and Singapore are members of new-generation free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said the Vietnamese leader.

He underlined the necessity of taking advantages of the benefits brought by these two agreements, making further contribution to consolidating the multilateral trading system and boosting economic recovery process.

He expressed his hope that the Singaporean business community will continue to support Viet Nam in getting access to the mobility investments and green finance, serving for sustainable development in such areas as innovation, smart infrastructures, green transport, start-up, high-quality human resource training and climate change adaption.

Tan See Leng, meanwhile, said Singapore's economic relations with Viet Nam are strong and substantive, as evidenced by trade and investment figures growing steadily over the past decade, riding on Viet Nam's stellar growth and the vast opportunities presented by the young and vibrant market.

A total of 12 Memorandum of Understandings were signed at the event between public and private sector organizations in Viet Nam and Singapore, including trade associations and business chambers, higher education institutions, and financial institutions./.