During a phone call with Singaporean Prime Minister Lawrence Wong on 16/4, Vietnamese Prime Minister Le Minh Hung shared that Vietnam is preparing new policies to attract more foreign investment, including from Singapore.

Prime Minister Le Minh Hung proposed that Singapore support Vietnam in establishing international financial centers and expanding and upgrading the network of new-generation VSIP industrial parks, integrating high-tech transfer.

Prime Minister Le Minh Hung on a phone call with Prime Minister Lawrence Wong, 16/4. *Photo: VGP*

For its part, Prime Minister Lawrence Wong affirmed Singapore's commitment to continue boosting economic cooperation, particularly in upgrading the VSIP industrial park network.

He announced that Singapore would increase the total number of VSIP industrial parks in Vietnam to 30 this year, commemorating the project's 30th anniversary in Vietnam. Singapore also pledged to continue supporting Vietnam in human resource training and development, especially for strategic-level officials.

Vsip industrial park (Binh Duong) from above, 2/2022. *Photo: Quynh Tran*

During the phone call, the Singaporean Prime Minister expressed confidence in the continued development of bilateral relations, anticipating breakthroughs in new areas such as carbon credit exchange and food security cooperation.

The two Prime Ministers agreed on the possibility of signing an intergovernmental agreement on cross-border low-carbon electricity trading. This agreement aims to ensure the successful implementation of a project exporting wind power from Vietnam to Singapore.

The Vietnam Singapore Industrial Park Joint Venture Company (VSIP) has been a collaborative project between the two nations since 1996. Currently, VSIP operates over 22 industrial parks across 15 provinces and cities. VSIP is strategically focusing on attracting green, high-tech foreign direct investment (FDI) and developing smart, sustainable industrial parks.

Phuong Dung