Singapore, Vietnam strengthen economic ties with new initiatives
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Among the new initiatives that Singapore and Vietnam agreed on at the 19th Singapore- Vietnam Connectivity Ministerial Meeting in Hanoi on Oct 10 is the launch of a work plan on digital transformation.
PHOTO: BLOOMBERG
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SINGAPORE – Singapore and Vietnam bolstered their economic ties during a bilateral meeting on Oct 10.
Dr Tan See Leng, Minister-in-charge of Energy and Science & Technology, and Vietnam’s Minister of Finance Nguyen Van Thang co-chaired the 19th Singapore-Vietnam Connectivity Ministerial Meeting (CMM) in Hanoi, Vietnam.
Among the new initiatives the two sides agreed on is the launch of a work plan on digital transformation – a collaboration between Grab Vietnam and the Da Nang People’s Committee.
The ministers also witnessed the launch of the Off-Airport Cargo Terminal, a joint venture between YCH Group and Vietnam’s T&T Group in Phu Tho province.
The ministerial meeting saw progress in key areas of bilateral cooperation, including energy and sustainability, with both sides reaffirming their commitment to facilitate low-carbon electricity imports from Vietnam into Singapore.
Both sides also jointly support Asean’s efforts to accelerate the realisation of the Asean Power Grid through the development of a framework on subsea power cables.
And they are working towards advancing agri-food trade cooperation through the setting up of a joint task force by the Singapore Food Agency and Vietnam’s Ministry of Agriculture and Environment.
The ministers commended the implementation of the Singapore-Vietnam Innovation Talent Exchange Programme
Thirty companies and 53 individuals in technology, biomedical technology, banking and finance, as well as tertiary students, have expressed interest in participating in the programme.
“The CMM demonstrates our shared commitment to deepen our bilateral economic partnership amidst the uncertain global economic environment. Vietnam remains an attractive market for Singapore’s companies and talent, and Vietnam companies continue to see Singapore as a reliable partner in the region,” said Dr Tan, who is also Manpower Minister.
“I am confident that the CMM will continue to serve as an important bilateral platform for Singapore and Vietnam to capture new opportunities and grow our economies for the benefit of our companies and our peoples,” he added.
The CMM is the key bilateral economic platform between Singapore and Vietnam.
It was established under the Singapore-Vietnam Connectivity Framework Agreement in 2005.
