Conference promotes Vietnam-Singapore trade partnership
Up to 110 small- and medium-sized enterprises (SMEs) of Vietnam attended a conference in Singapore on March 10 to seek trade and investment partnership.
In his speech at the event, Vietnamese Ambassador to Singapore Nguyen Tien Minh highlighted the significance the conference and the presence of Vietnam’s SMEs at the event, saying this shows the businesses’ dynamism to look for business and investment opportunities in foreign markets.
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An aerial photo of the Vietnam-Singapore Industrial Park in Haiphong city (Photo: VSIP)
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Through Singapore, Vietnamese firms can make inroads into other markets in the region and the world, especially Europe – the important trade partner of both Vietnam and Singapore, he noted.
The Vietnam-Singapore relations have recorded strong developments in recent years across such fields as economy, defence, education-training, and people-to-people exchange.
Singapore is Vietnam’s third largest foreign investor, with a total investment of over US$38 billion poured into 1,600 projects in terms of processing, technology, production, real estate, construction, transport and logistics.
The country is also the 12th biggest trade partner of Vietnam, with two-way trade doubling in the last decade, hitting nearly US$16 billion in 2016.
Recent high-ranking visits of the two countries’ leaders helped lift the bilateral ties, promising to open many new opportunities for the two sides’ enterprises to foster trade and investment links.
The upcoming visit to Vietnam by Singaporean Prime Minister Lee Hsien Loong in late March is expected to promote all-around ties between the two countries, especially in people-to-people exchange.
