Deputy Prime Minister Vu Van Ninh (R) meets Grace Fu, Singaporean Minister at the Prime Minister’s Office, Second Minister for Environment and Water Resources, and Second Minister for Foreign Affairs.

Deputy Prime Minister Vu Van Ninh has expressed wish that Singapore will share its first-hand experience with Vietnam in long-term planning, policy-making and management regarding land issues so as to meet future needs in the country’s development cause.

The Deputy PM made the request during a working session with Grace Fu, Minister at the Prime Minister’s Office, Second Minister for Environment and Water Resources, and Second Minister for Foreign Affairs , in Singapore on November 6.

He also suggested that Singapore invest in developing Phu Quoc island, turning it into a model economic area in Vietnam.

Grace Fu said Singapore stands ready to share its experiences with Vietnam in how to better attract, plan and manage foreign investment as well as in developing trade. She cited an example of Singapore ’s economic development agency which provides domestic and foreign investors with all necessary information while assisting domestic companies in investing overseas.

Both sides agreed that the model of Vietnam – Singapore Industrial Park (VSIP) in Vietnam is a success, which should be multiplied in other provinces and cities besides the five existing facilities.

The two sides shared the view that the elevation of bilateral ties to a strategic partnership in September this year will lay the foundation for further boosting cooperation between the two countries in the time ahead.

Deputy PM Ninh said Vietnam is actively carrying out the content of cooperation outlined during recent visits by the two countries’ leaders as well as in the strategic partnership, and asked Singapore to work closely with Vietnam in this process.

The two officials compared notes on the two countries’ global economic integration, including experiences in negotiating free trade agreements and the Trans-Pacific Partnership deal, agreeing that membership in regional and global economic institutions will bring out long-term benefits.

Both host and guest affirmed that the two countries will work closely together during the TPP negotiations.

Deputy PM Ninh is in Singapore for a visit from November 5-8 at the invitation of Minister for Foreign Affairs and Minister for Law K Shanmugam under the S R Nathan Fellowship.

Also on November 6, the Deputy PM held working sessions with the Monetary Authority of Singapore and Temasek Holdings, during which they discussed the management of State assets and the making of monetary and banking policies.

The S R Nathan Fellowship is a high-level programme through which foreign leaders, prominent personalities and opinion-shapers are invited to Singapore to exchange ideas and experiences on current and long-term challenges with Singapore leaders and senior government officials. The Fellowship was launched by Minister Shanmugam and former President S R Nathan in November 2012.

VNA