A corner of Ho Chi Minh City (Photo: VNA)Singapore (VNA) – The StraitsTimes, an English-language daily broadsheet newspaper based in Singapore, onNovember 9 ran an article spotlighting impressive achievements of Vietnam, theChair of the ASEAN 2020.
While all eyes are on the ASEAN Summit to be heldfrom November 12 - 15, Vietnam’s economic success story, too, has been thesubject of much attention, it said.
The country’s economy has consistently turned ina strong performance in the past decade, growing by 5 percent to 7 percent eachyear. Foreign investors are especially drawn by its expanding middle class,vibrant private sector and young population. About 70 percent of its 95 millionpeople are younger than 35.
According to the first female Ambassador ofSingapore to Vietnam Catherine Wong, for Singapore, economic ties are a"mainstay" of its relationship with Vietnam.
Wong said Singapore is the third-largest foreigndirect investor in the country, and this is very significant as the top twoinvestors are the Republic of Korea and Japan, which are far larger economiesthan Singapore.
She told the Straits Times that longstandingsymbols of cooperation include a 24-year-old Vietnam-Singapore Industrial Parkjoint venture, plus a connectivity framework agreement since 2006 to boostcollaboration in sectors such as finance, information technology and transport.
But there are new opportunities, she added,setting her sights on Vietnam's rapidly growing infrastructure, urbansolutions, innovation and start-ups, and e-commerce.
Regarding agricultural trade, she hoped todiversify Singapore’s sources of food supply by bringing more Vietnameseagricultural products and seafood into Singapore.
Touching on Vietnam’s fight against COVID-19,Wong said the Government has taken some tough measures, reacted quickly, andprepared early for possible local infections after the first cases in Chinaemerged.
The country also developed its own test kits andventilators, and is working on developing a vaccine, she said.
Vietnam experienced two waves of infections -one in March and April, and a more localised outbreak in Danang city in Julyand August. But the authorities' swift response and comprehensive lockdownmeasures put a lid on local transmissions.
For this reason, Singapore was confident inunilaterally lifting border restrictions to its visitors from Oct 8, she said.
Vietnam's borders, however, remain closed. Thenext step is to see how two-way travel can be eased with health and safetyprecautions in place, she added./.
VNA
