Receiving the delegation, Vietnamese Ambassador to Singapore Tao Thi Thanh Huong expressed pleasure to see the multifield stable, friendly and reliable relationship between Vietnam and Singapore as well as the two governments have brought strong development in trade and investment.
Currently, Singapore ranks third out of 130 nations and territories investing in Vietnam with the total capital of US$49 billion as of June this year. Singaporean enterprises are now present in 48 out of 63 provinces and cities of Vietnam.
In 2018, the bilateral trade value between Vietnam and Singapore topped US$20 billion. Singaporean firms invested in real estate, food processing, production, energy, logistics, information technology and service fields.
In HCMC, Singapore has been the largest investor and the second largest trade partner for many consecutive years. The city had over 1,100 projects invested by Singapore with the total registered capital of over $10.73 billion from 1988 to 2018. Total export import turnover between HCMC and Singapore exceeded $7 billion in 2018.
Secretary of the HCMC Party Committee Nguyen Thien Nhan summarized achievements of the city for the last past as well as key missions in the upcoming time. Of these, HCMC must continue leading in economic development, maintaining labor productivity triple the country or more and solving problems in urban planning and development.
Singapore meantime has strengths in urban planning and development and human resource training under international standards. Hence, the visit aims to fortify and develop the good relationship between the two sides. Besides HCMC hopes Singapore to become the city’s strategic partner in these above-mentioned fields.
Within the framework of the working visit, HCMC proposes to sign two Memorandum of Understandings (MoUs) in urban planning and education and training. These will be an important foundation to boost the cooperation between HCMC and Singapore in the two fields and bring practical benefits for the two sides.
Aside from that, the delegation will talk to Singaporean partners about a cooperation plan in some other fields such as smart city development and startup.
Mr. Nhan hoped that Vietnamese Ambassador to Singapore Tao Thi Thanh Huong together with the entire staff of the Vietnamese Embassy in Singapore will continue promoting their role to contribute in maintaining and developing the strategic partnership between the two countries, supporting HCMC to connect with Singapore so that the country will become the city’s strategic partner in urban development and human resource training under international standard.