Vietnam, Singapore look to optimise partnership

During their November 7 meeting in Singapore, the two leaders said the newly established strategic partnership, inked during Prime Minister Lee's visit to Vietnam in September this year, is a historical milestone in bilateral ties.

It has opened up new opportunities to further expand and deepen their co-operation in all fields, they said.

Regarding co-operation in economics, trade and investment, the two sides said they are pleased with the effective implementation of the Framework Agreement on Economic Connectivity between the two countries and the Vietnam-Singapore Industrial Parks model.

PM Lee pledged to work closely with the Vietnamese side to encourage Singaporean enterprises to invest in Vietnam 's Phu Quoc Island, calling on Vietnam to create favourable conditions and supply information on policies, administration procedures and land planning in Phu Quoc.

Deputy PM Ninh said Vietnam has accelerated its reforms - especially in finance, credit and banking - to enhance the efficiency of State-owned enterprises, to increase the competitiveness of its economy and to meet integration and development requirements.

PM Lee affirmed that his country always gives priority to co-operation with Vietnam as a strategic partner. He indicated finance as a promising realm and hoped for more favourable conditions for Singaporean financial organisations to expand operations in Vietnam.

On regional and international co-operation, the two sides said they are pleased with their bilateral co-ordination within the ASEAN framework, the Asia-Pacific Economic Co-operation (APEC), the Asia-Europe Economic Meeting (ASEM), and the United Nations.

Deputy PM Ninh spoke highly of Singapore's positive stance on matters relating to peace and stability in the region, including the East Sea issue.

The Singaporean leader confirmed that his country would continue its co-operation with and support for Vietnam in the negotiation process for a Trans-Pacific Partnership (TPP) to ensure the TPP is a balanced agreement with adequate benefits for all parties, especially developing countries.

The same day, Deputy PM Ninh also met Minister of the Prime Minister's Office, Second Minister for Home Affairs and Second Minister for Trade and Industry S. Iswaran.

They discussed measures to bolster trade and investment co-operation as strategic partners and members of ASEAN.

Minister Iswaran shared Singapore 's experience in human resources training to meet the requirements of international economic integration, affirming that Singapore will assist Vietnam in the field to help the country meet specific needs in training management personnel and skilled workers.

Deputy PM Ninh is in Singapore from November 5-8 at the invitation of Minister for Foreign Affairs and Minister for Law K. Shanmugam under the S.R. Nathan Fellowship.

The S.R. Nathan Fellowship is a high-level programme through which foreign leaders, prominent personalities and opinion-shapers are invited to Singapore to exchange ideas and experiences on current and long-term challenges with Singapore leaders and senior government officials. The fellowship was launched by Minister Shanmugam and former President S.R. Nathan in November 2012.

(Source: Nhandannewspaperonline)