Updated: 04/19/2013 22:31

S'pore, Vietnam to collaborate to harness new opportunities

S'pore, Vietnam to collaborate to harness new opportunities

Singapore and Vietnam will work together to harness new opportunities that could arise from the rise of Asia and new developments within Vietnam. 

Singapore Trade and Industry Minister Lim Hng Kiang and Vietnam Minister of Planning and Investment Bui Quang Vinh had chaired the 9th Vietnam-Singapore Connectivity Ministerial Meeting on Tuesday in Ho Chi Minh City. 

The Ministers noted that the integration of ASEAN with the greater Asian economies will present new opportunites for collaboration. 

A statement from the Ministry of Trade and Industry said both Ministers encouraged agencies from both countries to look to the future and not miss the opportunities ahead. 

Both Ministers were pleased with the strong growth in bilateral trade and investment activities in 2012. 

Singapore is one of the top foreign investors in Vietnam with about US$27 billion in cumulative investments as of March 2013, based on figures from Vietnam's Foreign Investment Agency. 

Bilateral trade has also grown by 5.6 per cent to reach S$15.5 billion in 2012.

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