VNA reported that on the morning of March 26, at the Government Headquarters, right after the welcoming and talks, Politburo member, Prime Minister Pham Minh Chinh and Singapore Prime Minister Lawrence Wong attended the groundbreaking ceremony for the construction of VSIP Thai Binh and exchanged economic cooperation documents between the two countries.
The VSIP Thai Binh Infrastructure Investment, Construction and Business Project is built in Thuy Truong Commune, Thai Thuy District, Thai Binh Province with a land use scale of more than 333 hectares, of which phase 1 has a total reclaimed land area of 278 hectares invested by VSIP Urban and Industrial Park Development Joint Stock Company with a total capital of more than VND 4,932 billion (nearly 212 million USD).
The VSIP Thai Binh project is of great significance, contributing to promoting investment attraction and economic growth, creating a breakthrough in the development of the Thai Binh Economic Zone, becoming a model of a high-tech industrial park, green industry, bringing high economic efficiency to the locality, creating many jobs and increasing income, improving the lives of people in Thai Thuy district.
With more than 4,000 investment projects in Vietnam, with a total capital of more than 80 billion USD, Singapore is the second largest foreign investor in Vietnam. In particular, 20 VSIP zones are a symbol of effective, sustainable and long-term cooperation between the two governments and the business communities of the two countries.
Prime Minister Pham Minh Chinh suggested that Singapore continue to expand and promote the effectiveness of the first-generation VSIP system, invest in developing the second-generation VSIP in a sustainable direction, forming ecological systems of science, technology, innovation, industry, urban areas, services, high technology in many localities of Vietnam.
Singapore Prime Minister Lawrence Wong expressed his pleasure at witnessing the groundbreaking ceremony for VSIP Thai Binh construction, demonstrating Singapore's confidence in Vietnam and Vietnam's development potential.
Along with other specific areas of cooperation and projects such as fiber optic connectivity, power cables, etc., the construction and implementation of VSIP Thai Binh to participate in the network of 20 VSIPs nationwide, contributes to increasing connectivity, supporting and attracting investment projects to Vietnam; bringing benefits to each country and the relationship between the two countries, as well as increasing economic connectivity in the ASEAN bloc.
Also here, under the witness of the Prime Ministers of the two countries, ministries, branches, localities, and business units of the two countries exchanged cooperation documents in the fields of: developing industrial parks in Vietnamese localities; promoting innovation, digital transformation and industrial development; supporting the promotion, digital transformation, promoting Vietnamese tourism; promoting the development of biofuel in Vietnam; building an open and integrated innovation platform in the entire agricultural - food value chain in Vietnam and Singapore according to international standards.
Previously, after the talks, Prime Minister Pham Minh Chinh and Singapore Prime Minister Lawrence Wong witnessed the handover ceremony of important cooperation documents between the two countries, including: Protocol on Cooperation in developing a Comprehensive Strategic Partnership Program for the 2025-2030 period between the two foreign ministries; Protocol on enhancing cross-border electrope trade cooperation towards the ASEAN power grid between the two ministries of Industry and Trade; Memorandum of Understanding on cooperation in the field of digital development and innovation between the Ministry of Science and Technology of Vietnam and the Ministry of Digital Development and Information of Singapore; Memorandum of Understanding on cooperation to implement bilateral retail payments via QR code between Vietnam and Singapore; Memorandum of Understanding on cooperation between the Vietnam Friendship Association and Singapore International Fund.
