Welcoming the minister’s visit, the PM congratulated his guest on the success of Singapore’s recent general election.
He affirmed that the two countries’ Governments, ministries and sectors have actively implemented coordination mechanisms to boost comprehensive co-operation, particularly in trade, economics and investment.
Singapore’s direct investments in Vietnam have continually increased in recent years, reaching nearly US$33 billion with almost all projects producing positive results and benefiting both sides.
The VSIP model has also been successfully implemented in several Vietnamese localities, contributing to linking the two economies and developing the bilateral strategic partnership in a more practical and efficient manner, he stated.
The Government leader expressed his hope that the newly-established VSIP in Nghe An will quickly benefit both sides and serve as a foundation for the sustainable development of the province, the northern central region and the country at large.
The Vietnamese Government will create the most favourable conditions for foreign firms, including those from Singapore, to conduct long-term investment and business in Vietnam, he confirmed.
Minister Lim Hng Kiang said that Singapore’s Government and enterprises always pay heed to promoting investment in Vietnam.
They will exert every effort to effectively implement the VSIP Nghe An project to nurture the bilateral relations.
Singapore became the third largest investors in Vietnam, according to Minister Lim.