Foreign Minister Bui Thanh Son (the fourth from left) and delegates at the conference (Photo: VNA)

Singapore (VNA) – Addressing a conference onVietnam investment in Singapore on July 17, as part of his ongoing officialvisit to the country, Foreign Minister Bui Thanh Son stressed investment cooperation has become a highlight in bilateral relations, actively contributing to the socio-economic development of both Vietnam and Singapore in recent times.

Themed “Seizinginvestment opportunities in Vietnam in response to new changes”, the event wasjointly hosted by the Vietnamese Embassy to Singapore and the JointStock Commercial Bank for Foreign Trade of Vietnam (Vietcombank). It sawthe participation of over 250 representatives from the Ministry of Planning andInvestment, the Ministry of Industry and trade, and the Ministry of ForeignAffairs, business associations and enterprises of the two countries.

Participants express confidence in Vietnam's strong economic development potential. (Photo: VNA)

There are new opportunities for Vietnam and Singapore to promote investmentcooperation in various sectors in the context of rapid transformationswith such trends as digital transformation, green economy, sustainabledevelopment, and the Fourth Industrial Revolution in the region and the world,he said.

The establishment ofthe Vietnam–SingaporeDigital Economy and Green Economy Partnership during Prime Minister Pham Minh Chinh’s visit toSingapore in early 2023 serves as an essential foundation for the two sides tostrengthen cooperation in important areas, promote circular economicdevelopment, clean energy, and address climate change challenges.

Representatives from Vietnameseministries, sectors, and businesses updated on the countrys development goals for2030 and its vision for 2045, development trends and investment opportunitiesin Vietnam, particularly in the fields of digital economy, industry - manufacturing,and renewable energy.

Participants expressed confidence in Vietnam's strong economic development potential and spoke highlyof its efforts in promoting the development of green economy, digitaleconomy, and circular economy. They discussed and proposed various specific measures toeffectively implement the Vietnam–Singapore Digital Economy and Green EconomyPartnership, strengthen cooperation,and mobilise resources for infrastructure development and high-qualityinvestment projects, and promote green financial cooperation and energytransformation.

Singaporean delegates showed their interest in Vietnam's policies related to developing eco-industrialparks, plans to implement National Power Development Plan VIII, and incentives for green investment projects.

The conference started a series of activities within the framework of FM Son’s first officialvisit to Singapore. It is expected to pave the way for new and practicalopportunities in investment cooperation between the two countries, contributingto further deepening the Vietnam-Singapore strategic partnership.

Singapore is now thesecond-largest foreign investor in Vietnam with nearly 3,300 projects worth over73 billion USD. Building on theinitiative of both governments, the first Vietnam-Singapore Industrial Park (VSIP) wasestablished in the southern 🌼province of Binh Duong in 1996. S🌟o far, there havebeen 14 VSIPs operating efficiently, generating over 300,000 jobs for locals./.