Vietnam - Singapore Business Council launched

Friday, 19/07/2019 16:48
The Vietnam Chamber of Commerce and Industry (VCCI) and Singapore Business Federation (SBF) have signed a cooperative deal establishing the Vietnam-Singapore Business Council in order to boost bilateral cooperation on trade, investment, and tourism.

PM urges strong changes in Vietnam-Singapore economic partnership

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The Vietnam –Singapore Business Council is a bridge for businesses of the two countries to organize regular trade and investment promotion activities and is the official information channel for businesses to contribute ideas to their Governments to build more favorable investment and business environments.

In addition, the council will create opportunities to enhance cooperation between businesses with VCCI, SBF and Singaporean associations.

In his speech at the event, VCCI Chairman Vu Tien Loc affirmed that since establishing diplomatic relations, the economic, trade and investment relation has developed well and Singapore has become one of the most important strategic partners of Vietnam.

Total two-way turnover between Vietnam and Singapore reached nearly USD7.7 billion in 2018. For foreign investment, by the end of 2018, Singapore invested in 2,159 projects in Vietnam with a capital of more than USD46 billion, ranking third among 130 countries and territories pouring capital in the country, after China and Japan.

On this occasion, VCCI and SBF organized a conference with the hope that the council and businesses of the two sides will discuss to find ways to solve problems and challenges arising in the trade and investment relations./.

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