Two new agreements signed between Singapore and Vietnam industry bodies

SINGAPORE - Minister for Trade and Industry Lim Hng Kiang visited Hue, Vietnam from Thursday to Friday, to co-chair the 11th Singapore-Vietnam Connectivity Ministerial Meeting with his Vietnam counterpart, Minister of Planning and Investment Bui Quang Vinh.

The annual platform is a cornerstone of bilateral economic relations between Singapore and Vietnam, said the Ministry of Trade and Industry on Friday.

Two new agreements covering cruise tourism and investment facilitation were signed at meeting.

One was a memorandum of cooperation about collaboration in cruise tourism, signed between the Singapore Tourism Board and Vietnam National Tourism Agency.

This will allow South-east Asia to tap on more than 2 million cruise passengers travelling on some 980 Asia-to-Asia cruise products this year.

The other was the memorandum of understanding that United Overseas Bank (UOB) signed with Vietnam's Foreign Investment Agency, to facilitate investments into Vietnam via UOB's foreign direct investment advisory unit in Ho Chi Minh City.