Promoting strategic partnership between Vietnam and Singapore
Commenting on the visit to Vietnam of Honour Senior Minister - Goh Chok - former PM of Singapore from September 23-26, Vietnam’s Ambassador in Singapore - Tran Hai Hau said that the visit would contribute to boosting strategic relations between Vietnam and Singapore.
In an interview with the Vietnam News Agency correspondent in Singapore, Ambassador Tran Hai Hau stressed that Goh Chok Minister visited Vietnam this time as guest of Prime Minister Nguyen Tan Dung. This is the highest level visit by leaders of Singapore to Vietnam in 2014, followed by the visit of Tony Tan Keng Yam president in 2012 and Prime Minister Lee Hsien Loong in 2013.In recent years, Vietnam-Singapore relations have made the leap in both quantity and quality in all areas. This is clearly shown in a series of high-level visits of heads of the two countries; leaders of ministries and agencies also regularly visit the two sides meet, exchange and cooperation.
Vietnam’s Ambassador in Singapore - Mr.Tran Hai Hau. (Source: vnembassy-singapore.gov.vn)
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Ambassador said that in 3 years, which foreign direct investment (FDI) in Vietnam was Singapore's spectacular growth with registered capital of $ 23 billion in 2011 to more than $ 30 billion today.
Economic cooperation, bilateral trade is constantly evolving with the average growth rate in the last 3 years 12.7% / year. Two-way trade turnover increased from SGD 14.9 billion (equivalent to $12 billion) in 2011 to SGD 17.4 billion (about 13.9 billion USD) in 2013.
Notably, the export turnover of Vietnam to Singapore increased nearly two-fold from 2 billion in 2011 to more than SGD 3.8 billion in 2013.
In particular, in 2014 - the first year of implementating strategic partnership, trade turnover between Vietnam and Singapore achieved impressive growth. According to the Statistical Office of Singapore, in the first 7 months of 2014, bilateral trade turnover reached nearly 12 billion SGD, up 23.4% compared to the same period in 2013, while export turnover of Vietnam to reach nearly 2.3 billion SGD Singapore, up 27%, imports of Vietnam from Singapore SGD 9.5 billion, an increase of 23%.
The structure of the exchange of goods between the two sides complement remarkably. Singapore is currently the 3rd largest trade partner of Vietnam in the Association of Southeast Asian Nations (ASEAN). The potential for economic cooperation and trade between Vietnam and Singapore are very large.
Evaluation of the role of Singapore in Southeast Asia, Ambassador Tran Hai Hau said that this island is an essential part in the development and prosperity of the region. With its favorable geographical location, Singapore is fast becoming a transit point for sea transport in the region to the world and across continents.
After nearly five decades of development, Singapore is the financial center of the region, connecting point’s air hub, the center of education, health, meetings, shopping, travel, entertainment, public high-tech, etc.
Singapore is consistently ranked the economy as the world's top competition, the Asian head of the logistics supply chain and intellectual property protection, water apparatus and operational transparency efficiency, is one of the least corrupt countries in the world.
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