Vietnam invites Singapore to invest in Phu Quoc

Vietnam invites Singapore to invest in Phu Quoc

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A positive sign of commitment to Phu Quoc when invitation extended at country level.

Deputy PM Vu Van Ninh called on Singapore to invest in Phu Quoc Island and convert the island into a model economic zone in Viet Nam.

Mr. Ninh made the suggestion on November 6 while meeting with the Second Minister for the Environment and Water Resources and Second Minister of Foreign Affairs, Grace Fu, during his working tour to Singapore.

Viet Nam and Singapore have elevated the bilateral ties to strategic partnership during PM Lee Hsien Loong’s official visit to Viet Nam last September, making Singapore the 3rd ASEAN country to set up strategic partnership with Viet Nam.

The strategic partnership, which includes a broad range of areas such as finance, trade and investment, transportation, defence, and education, will consolidate and build on existing cooperation, paving the way to a stronger and deeper relationship in a win-win and fruitful manner, said Singaporean Ambassador to Vietnam Ng Teck Hean.

Both countries have enjoyed the success of the Viet Nam-Singapore Industrial Parks (VSIPs) model, with the latest one ground-broken in Quang Ngai province on September 13 this year. They have agreed to expand the model to other provinces and cities in the future.

VSIPs has attracted 490 investors from 22 countries and territories with total investment of more than US$6 billion, creating jobs for 140,000 people.

Minister Grace Fu said that Singapore stands ready to share experience of investment management, planning and attraction, as well as negotiations for the Trans-Pacific Partnership (TPP) with Viet Nam.

Read Talk Vietnam for full story


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