Singapore, Vietnam enhance economic cooperation
Singapore, Aug. 13 (Xinhua): Singapore and Vietnam inked here on Monday two agreements on major projects as part of their efforts to enhance economic cooperation between the two countries.
According to a statement issued by the Singapore government, the signing of the pacts to develop two major projects in Vietnam was witnessed by Singapore's Prime Minister Lee Hsien Loong and his Vietnamese counterpart Nguyen Tan Dung, who is here for a two-day visit.
The projects are to develop a new 700-hectare Singapore-Vietnam industrial park in north Vietnam's Bac Ninh province, along with a 1,200-hectare township in the Hai Phong, Vietnam's third largest city.
In recent years, Singapore and Vietnam have enjoyed closer relations with two-way trade between them growing by 8.6 percent last year.
Currently, Singapore is one of Vietnam's top foreign investors with a cumulative investment at 9.6 billion U.S. dollars. There has been a sustained increased flow of tourists both ways for some years now. In 2005, Singapore and Vietnam brought their relations to a new height by launching the Connectivity Framework Agreement, which provides an overarching platform for bilateral economic cooperation in specific areas and allows the two countries to leverage on each other's strengths and competencies.
The Vietnamese premier, who arrived here on Monday, met separately with his Singapore counterpart Lee Hsien Loong, President S. R. Nathan, Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew.
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