Deputy Prime Minister Nguyen Sinh Hung of Vietnam paid a courtesy visit on June 25 to Singaporean Prime Minister Lee Hsien Loong in the company of Deputy Minister of Planning and Investment Nguyen Ngoc Phuc, Deputy Minister of Finance Tran Xuan Ha and Vietnamese Ambassador to Singapore Duong Van Quang.

Mr Hung informed the host of the recent socio-economic situation in Vietnam and the Vietnamese Government’s efforts to create favorable conditions for foreign investors, develop human resources, and promote international economic integration.

Mr Hung said the Singaporean Government has paid great attention to boosting investment and socio-economic cooperation with Vietnam with a focus on developing trade, transport, finance-banking and education and training. Singapore is currently a leading investor in Vietnam.

Singaporean Prime Minister Lee Hsien Loong expressed his delight at receiving Vietnamese Permanent Deputy Prime Minister Nguyen Sinh Hung and the Vietnamese Government’s senior delegation who are attending the World Economic Forum on East Asia in Singapore.

PM Lee Hsien Loong said that the Vietnamese economy is developing rapidly and catching up with the common development of the region and the world. In particular, the country is pushing up its Doi Moi (renewal) and reform process to adopt favourable investment policy for foreign businesses, he noted.

The Singaporean PM hoped that the two countries will continue to initiate new projects and enhance cooperation in the fields of aviation, financial services, construction of industrial and processing zones, and transport services. Singapore has further potential and experience in these fields, he said, adding that his country is willing to help Vietnam achieve success.

He also believed that Vietnam-Singapore close cooperation will promote political relations and create a good environment for the two countries’ businesses to set up their long-term and sustainable business operations in each country.

Deputy PM Hung thanked the Singaporean PM for his fine words and pledged that Vietnam will do its best to strengthen solidarity among the ASEAN bloc and tighten traditional friendship and long-term cooperation with Singapore.