Singapore Invited to Invest in Phu Quoc Island
Deputy PM Vu Van Ninh called on Singapore to invest in Phu Quoc Island and convert the island into a model economic zone in Vietnam.
Mr. Ninh made the suggestion on November 6 while meeting with the Second Minister for the Environment and Water Resources and Second Minister of Foreign Affairs, Grace Fu, during his working tour to Singapore.
Vietnam and Singapore have elevated the bilateral ties to strategic partnership during PM Lee Hsien Loong’s official visit to Vietnam last September, making Singapore the 3rd ASEAN country to set up strategic partnership with Vietnam.
The strategic partnership, which includes a broad range of areas such as finance, trade and investment, transportation, defence, and education, will consolidate and build on existing cooperation, paving the way to a stronger and deeper relationship in a win-win and fruitful manner, said Singaporean Ambassador to Vietnam Ng. Teck Hean.
Both countries have enjoyed the success of the Vietnam-Singapore Industrial Parks (VSIPs) model, with the latest one ground-broken in Quang Ngai province on September 13 this year. They have agreed to expand the model to other provinces and cities in the future.
VSIPs has attracted 490 investors from 22 countries and territories with total investment of more than US$6 billion, creating jobs for 140,000 people.
Minister Grace Fu said that Singapore stands ready to share experience of investment management, planning and attraction, as well as negotiations for the Trans-Pacific Partnership (TPP) with Vietnam.
She believed abundant natural resources and a skilled and hard-working labor force would be advantages for Vietnam to diversify trade ties with regional partners and expand export markets.
The same day, Deputy PM Ninh also met with executives of Temasek Holdings and the Monetary Authority of Singapore to exchange experience of policy making in the areas of monetary, banking and efficient management of State assets in SOEs.
VGP
Vietnamese
