SINGAPORE: Singapore and Vietnam on Monday (Aug 28) signed into effect agreements that expanded the countries' bilateral economic cooperation.
Singapore's Minister for Manpower and Second Minister for Trade and Industry Tan See Leng and Vietnam Minister of Planning and Investment Nguyen Chi Dzung exchanged side letters that effected the upgrade of the Framework Agreement on Singapore-Vietnam Connectivity.
The upgraded Connectivity Framework Agreement (CFA) expands the scope of Singapore and Vietnam’s bilateral economic cooperation, the Ministry of Trade and Industry (MTI) said in a press release.
This is the first upgrade and expansion of the CFA since it was signed in 2005, it added.
From the previous six sectors of cooperation outlined in the framework agreement, the upgraded version will now cover five pillars of cooperation in 11 areas, including energy connectivity, sustainability, infrastructure, digital and innovation and connectivity.
"This reflects the increased business opportunities in current, new and emerging growth areas," MTI said.
Singapore and Vietnam also signed a Memorandum of Understanding (MOU) on the Innovation Talent Exchange Programme to "enable Singaporean professionals to seek working stints in eligible innovation-related areas of work in Vietnam, and vice-versa".
Both sides have agreed to set up a joint taskforce to support the implementation of the MOU, said MTI.
The two countries also made progress in the areas of climate change and renewable energy cooperation.
Singapore Prime Minister Lee Hsien Loong and Vietnam Prime Minister Pham Minh Chinh witnessed the conclusion of the partnerships.
“The conclusion of these agreements, witnessed by Singapore and Vietnam’s leaders, signal both countries’ commitment to build stronger partnership in the emerging areas of green economy, digital economy and innovation," said Dr Tan.
"We will continue working closely with our counterparts to create new avenues and more opportunities for our businesses and people."
Prime Minister Lee Hsien Loong attending the welcome ceremony at the Presidential Palace in Vietnam on Aug 28, 2023. (Photo: Ministry of Communications and Information/Prime Minister’s Office)
Dr Tan's trip to Vietnam is part of Mr Lee's official three-day visit from Aug 27 to Aug 29.
Foreign Affairs Minister Vivian Balakrishnan and Education Minister Chan Chun Sing also accompanied Mr Lee on the trip.
On Monday morning, Mr Lee attended a wreath laying ceremony at the Ho Chin Minh Mausoleum.
He also attended the welcome ceremony at Vietnam's Presidential Palace.
The visit coincided with the 50th anniversary of diplomatic relations between Singapore and Vietnam and 10 years of Strategic Partnership.
Prime Minister Lee Hsien Loong attending the wreath laying ceremony at the Ho Chin Minh Mausoleum in Vietnam on Aug 28, 2023. (Photo: Ministry of Communications and Information/Prime Minister’s Office)
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Singapore's Minister for Manpower and Second Minister for Trade and Industry Tan See Leng and Vietnam Minister of Planning and Investment Nguyen Chi Dzung exchanged side letters that effected the upgrade of the Framework Agreement on Singapore-Vietnam Connectivity.
The upgraded Connectivity Framework Agreement (CFA) expands the scope of Singapore and Vietnam’s bilateral economic cooperation, the Ministry of Trade and Industry (MTI) said in a press release.
This is the first upgrade and expansion of the CFA since it was signed in 2005, it added.
From the previous six sectors of cooperation outlined in the framework agreement, the upgraded version will now cover five pillars of cooperation in 11 areas, including energy connectivity, sustainability, infrastructure, digital and innovation and connectivity.
"This reflects the increased business opportunities in current, new and emerging growth areas," MTI said.
Singapore and Vietnam also signed a Memorandum of Understanding (MOU) on the Innovation Talent Exchange Programme to "enable Singaporean professionals to seek working stints in eligible innovation-related areas of work in Vietnam, and vice-versa".
Both sides have agreed to set up a joint taskforce to support the implementation of the MOU, said MTI.
The two countries also made progress in the areas of climate change and renewable energy cooperation.
Singapore Prime Minister Lee Hsien Loong and Vietnam Prime Minister Pham Minh Chinh witnessed the conclusion of the partnerships.
“The conclusion of these agreements, witnessed by Singapore and Vietnam’s leaders, signal both countries’ commitment to build stronger partnership in the emerging areas of green economy, digital economy and innovation," said Dr Tan.
"We will continue working closely with our counterparts to create new avenues and more opportunities for our businesses and people."
Prime Minister Lee Hsien Loong attending the welcome ceremony at the Presidential Palace in Vietnam on Aug 28, 2023. (Photo: Ministry of Communications and Information/Prime Minister’s Office)
SINGAPORE LEADERS' THREE DAY VISIT
Dr Tan's trip to Vietnam is part of Mr Lee's official three-day visit from Aug 27 to Aug 29.
Foreign Affairs Minister Vivian Balakrishnan and Education Minister Chan Chun Sing also accompanied Mr Lee on the trip.
On Monday morning, Mr Lee attended a wreath laying ceremony at the Ho Chin Minh Mausoleum.
He also attended the welcome ceremony at Vietnam's Presidential Palace.
The visit coincided with the 50th anniversary of diplomatic relations between Singapore and Vietnam and 10 years of Strategic Partnership.
Prime Minister Lee Hsien Loong attending the wreath laying ceremony at the Ho Chin Minh Mausoleum in Vietnam on Aug 28, 2023. (Photo: Ministry of Communications and Information/Prime Minister’s Office)
Continue reading...