PM wishes to raise two-way trade with Singapore

Prime Minister Nguyễn Xuân Phúc (right) talks to Prime Minister of Singapore Lee Hsien Loong in a meeting held at the second Belt and Road Forum for International Cooperation in Beijing, China. — VNA/VNS Photo Thống Nhất

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc expressed his wish to raise two-way trade with Singapore from the current level of nearly US$8 billion.

He was speaking during a meeting with his Singaporean counterpart Lee Hsien Loong in Beijing on April 26.

The meeting took place at the second Belt and Road Forum for International Cooperation (BRF).

Both sides expressed their delight that economic, trade and investment links are strong in bilateral relations.

Singapore remains the third largest foreign investor in Việt Nam while Vietnamese firms have invested in more than 100 projects worth nearly $300 million.

Singaporean PM Lee spoke highly of Việt Nam’s potential and strengths, especially its young workforce capable of mastering modern technology.

Singapore will encourage firms to enhance investment in infrastructure, smart urban development, hi-tech areas, seaports exploitation and management in Việt Nam, Lee said.

They agreed to promote connectivity, especially in pillar fields of science-technology and innovation; launch projects such as the Việt Nam-Singapore Industrial Park in the central province of Quảng Trị, software park No. 2 in the central city of Đà Nẵng and the national innovation centre; and share experience in building e-government.

The two PMs discussed regional and global issues of shared concern, including working together to build a strong ASEAN community, especially when Việt Nam undertakes the role of ASEAN Chair by 2020.

The leaders wished that parties concerned would step up the implementation of the Declaration on the Conduct of Parties in the East Sea (DOC), build an effective and legally binding Code of Conduct of Parties in the East Sea (COC) in the near future. — VNS