Minister Truong Minh Tuan meets the President of Singapore Manufacturing Federation

October 19, 2017 | 02:37 pm GMT+7

On 18/10, Minister Truong Minh Tuan received Mr. Douglas Foo, President of Singapore Manufacturing Federation.


At the meeting, Minister Truong Minh Tuan appreciated the long-term cooperation between Vietnam and Singapore. Singapore businesses have invested in almost of Vietnam's economic sectors. Bilateral trade between Vietnam and Singapore has always been high in total import-export turnover. Singapore is now a major trading partner of Vietnam. In the ASEAN region, Singapore is Vietnam's largest trading partner.
ICT has become a fast-growing, sustainable and high-turnover industry with high export value. In the context of the world economy is still difficult and slow recovery but many businesses and corporations continue to invest and expand their operation in Vietnam such as Samsung, LG, Panasonic, Canon ... The success of enterprises in Vietnam shows that the efforts and determination of the Government of Vietnam in improving the business environment in Vietnam in the digital economy has brought positive effects, building the confidence for investors.
The Minister emphasized MIC had been actively striving to complete the legal framework in the field of information and communication to create a favorable investment environment with healthy competition. With regard to some short-term and long-term strategic directions of the Ministry in the coming time, the Minister said that the Ministry would concentrate in enhancing the development and training of ICT human resources; improving mechanisms and policies to support start-up enterprises and attract investment capital from domestic and international organizations. The Ministry has been focusing on improving the quality of 4G mobile networks, prioritizing the development of broadband infrastructure; enhancing the efficiency of state management of e-transactions and the information security.
Also at the meeting, the Minister hoped the President of Singapore Manufacturing Federation, in his position to support, encourage Singapore’s investors, businesses, corporations to invest in Vietnam in high-tech projects, information security, human resources training, etc.
Speaking at the meeting, Mr. Douglas Foo expressed his delight at the Ministry’s supports to projects that had been and would be implemented in Vietnam by Singapore businesses. He affirmed that he would support and cooperate with Vietnamese businesses in the future to develop the two countries' economies in the digital economy and at the same time tighten the cooperation between the two countries.