Vietnam remains a magnet for Singaporean investors, with sustainable development being a promising area of cooperation, according to Singaporean Ambassador to Vietnam Jaya Ratnam.
In an interview with the Vietnam News Agency on the threshold of the 2023 New Year, he highlighted that Singapore has been Vietnam’s leading source of foreign investment since 2020, as evidenced by the strong investor confidence in the country’s economic prospects and potential.
Despite the ongoing adverse geopolitical tensions and economic headwinds, Vietnam’s trade revenue is double its GDP, he noted.
The Vietnam – Singapore Industrial Park is a cornerstone of Singapore’s economic engagement with Vietnam. They have attracted 18 billion USD in investments and created over 300,000 jobs in Vietnam, the Ambassador said.
The third VSIP Binh Duong kicked off earlier this year incorporates Industry 4.0 practices and green technologies.
Given that Vietnam and Singapore have both committed to significantly reducing carbon emissions over the decades to come, the Ambassador pointed to sustainability as a promising area of cooperation.
He said that digital transformation is another promising area of cooperation. Singapore hopes to work towards fostering bilateral and regional connectivity and interoperability to support the growth of businesses and investments in innovation and technology.
On bilateral ties, he said Vietnam and Singapore have maintained their steadfast friendship and have a strong foundation of mutual trust and a tradition of mutual support.
Since the re-opening of their borders earlier this year, Vietnam and Singapore have resumed high-level exchanges, which reflect their mutual interest in expanding cooperation in new and emerging fields./.
VNA
