Singapore calls on its enterprises to further invest in Vietnam
Vietnamese Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang- Photo:TTXVN |
(VOVworld) – The tenth Vietnam-Singapore Ministerial Meeting on Economic Connectivity took place in Singapore on Tuesday under the chair of Minister of Planning and Investment Bui Quang Vinh and Singaporean Minister of Trade and Industry Lim Hng Kiang. The
Singaporean Minister said that the two countries should strengthen cooperation in various fileds to boost bilateral economic ties as Vietnam is experiencing rapid urbanization and high economic growth. Mr. Lim said that Singaporean businesses would be interested in investing in retails, food, service supplies, telecommunication and tourism in Vietnam. Statistics show that two-way trade between Vietnam and Singapore has increased by 3 folds in the last decade reaching nearly 14 billion USD in 2013. By March 2014, Singapore was the 3rd largest foreign investor in Vietnam with nearly 1,000 valid projects worth more than 30 billion USD.