This would prove vital as Vietnam is preparing to absorb new wave of investments in the context of new trade agreements and the Industry 4.0, expressed representatives of Singaporean enterprises in a meeting between the two countries’ business communities on November 27 in Singapore. 

The meeting was held on the occasion of the 45th anniversary of the establishment of Vietnam-Singapore bilateral diplomatic relations, and the 5th anniversary of the bilateral strategic partnership. 

At the meeting, Singaporean enterprises hoped to get updates on Vietnam’s investment and economic policies, while searching for opportunities to expand business activities in the country. 

Meanwhile, Vietnamese companies considered the cooperation with Singaporean sides key for the former’s integration in the regional and global supply chains, especially in a fast-growing digital economies and the Fourth Industrial Revolution. 

Vu Viet Ngoan, chairman of the Vietnam – Singapore Friendship Association (VFSA), highly valued the comprehensive cooperation between Vietnam and Singapore. 

Singapore is currently Vietnam’s third largest trading partners in ASEAN, while Vietnam is Singapore’s fifth in the region. 

Ngoan said the fact that both countries participate in a number of free trade agreements, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the possible Regional Comprehensive Economic Partnership (RCEP), would contribute significantly to the bilateral relation, and deepening the two countries’ integration in the global supply chain.