Vietnam keen to promote cooperation with Singapore and Malaysia

VIETNAM-Vietnam affirms relations and multifaceted cooperation with Singapore and Malaysia in bilateral aspects as well as at regional and international forums.
State President Truong Tan Sang will pay state-level visits to Singapore and Malaysia from September 26-30.

These visits will be made at the invitation of Singaporean President Tony Tan Keng Yam and Malaysian King Tuanku Mizan Zainal Billah Shah.

This is the first overseas trip by Mr. Sang since he was elected by the National Assembly as State President of the Socialist Republic of Vietnam.

The tour affirms Vietnam’s consistent policy of strengthening the ties of friendship and all-round cooperation between Vietnam and Singapore and Malaysia.

Vietnam-Singapore relations are currently bearing fruit through the regular exchange visits of their senior leaders. Singapore is always considered as Vietnam’s top investment and trade partner.

Two-way trade turnover has seen consistent year-on-year increases in recent years, reaching US$5.8 billion in 2009 and US$6.2 billion in 2010.

By July 2011, Singapore has had 938 projects with a total investment capital of US$23.2 billion, putting the country third among 92 countries and territories investing in Vietnam. Meanwhile, Vietnam has invested 38 projects in Singapore, totaling US$464 million.

Since 2005, both countries have effectively implemented a framework agreement on collaboration in six fields and organised annual ministerial level meetings to assess the implementation of the agreement.

Four Vietnam-Singapore industrial parks (VSIP) are also running smoothly in Binh Duong, Bac Ninh and Hai Phong.

As many as 9,000 Vietnamese students are working and studying in Singapore.

Bilateral cooperation in national defence and security, culture, healthcare and tourism has been strengthened.

During President Sang’s visit, the two sides will review and set orientations for developing comprehensive bilateral cooperation in many important fields.

They will also discuss measures to promote bilateral cooperation at regional and international forums and compare notes on regional and international matters of mutual concern.

Malaysia - Vietnam’s third biggest trade partner

The Vietnam-Malaysia friendship and cooperation continue to develop in a stable manner through the exchange of bilateral visits.

Malaysia is Vietnam’s third biggest trade partner in ASEAN with two-way trade turnover posting steady annual growth.

In terms of investment, Malaysia ranks fifth among 92 nations and territories investing in Vietnam.

By July 2011, Malaysia has had 386 projects in Vietnam with a total investment capital of US$18.78 billion.

Labour cooperation between the two countries continues to develop strongly. Malaysia is seen as Vietnam’s third biggest guest worker importing market, employing around 70,000 Vietnamese workers.

On the occasion of President Sang’s visit, both countries will discuss ways to promote the ties of friendship and cooperation in politics, national defence and security, and economics, as well as coordinate activities at regional and international forums including ASEAN.

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