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|PM Nguyen Xuan Phuc attends the Viet Nam-Singapore Business Forum, April 26, 2018 - Photo: VGP/Quang Hieu|
Speaking at the forum, the PM highlighted that Singapore poured more than US$43 billion in nearly 2,000 projects in Viet Nam. In 2017, the two-way trade value reached US$8.3 billion. Viet Nam has invested in 93 projects in Singapore, with the total capital investment of US$235 million.
In 2017, 280,000 Singaporeans visited Viet Nam and around 400,000 Vietnamese travelled to Singapore. Currently, around 10,000 Vietnamese students are studying in Singapore.
These active achievements have helped the nation be determined to establishing a Government of integrity and creativity serving the people and businesses, striving to improve the improve the business environment to be listed among top ASEAN countries and heading to standards of the Organization for Economic Co-operation and Development (OECD), he said.
The nation heads to reduce business expenditures, especially expenditures on administrative procedures and logistics, improve the growth quality based on capacity and renovation as well as take advantages of the fourth industrial revolution and harmoniously connect the State sector with foreign-invested one for a more sustainable development and higher economic growth, the PM asserted.
PM Phuc stressed that Viet Nam now has 52 million people getting access to the Internet, accounting for 54% of the total population and ranking fifth in the Asia-Pacific region and around 55% of Viet Nam’s population are using smart phones, supposing that these help investors to bring their products and services to the huge number of customers in Viet Nam.
Viet Nam encourages investment funds to provide sponsors for start-up enterprises and enhancing creativity, he asserted.
The Vietnamese Government commits to supporting and facilitating start-up initiatives, protecting intellectual property rights within the framework of the Intellectual Property Law and realizing commitments on intellectual property rights within Free Trade Agreements the nation has joined, PM Phuc added.
The Vietnamese leader expected that the forum will open more cooperative opportunities for the two nations’ businesses for the comprehensive development of both sides and the region.
Singaporean Minister for National Development Lawrence Wong expressed his hope that through the forum, the two sides will strengthen connection to seek for partners, bringing benefits for both.
At the forum, PM Phuc witnessed the exchange of 16 memorandums of understanding and cooperative documents.
The forum, jointly organized by the Vietnamese Ministry of Planning and Investment, Vietnamese Embassy in Singapore, Singapore Business Association and Singapore Manufacturing Federation, attracted the participation of more than 700 delegates from the two nations’ large corporations.