Monday, May 20, 2024

Singapore and Vietnam Sign MoUs to Enhance Economic Cooperation

Singapore and Vietnam have signed several Memoranda of Understanding (MoU) to boost their economic ties during Vietnamese Prime Minister Pham Minh Chinh’s official visit to Singapore. The MoUs cover cooperation in areas such as trade, digital economy, and maritime and port collaboration. One of the MoUs focuses on deepening trade cooperation and agri-business collaboration through business matchmaking and attracting investments in Vietnam’s agriculture and logistics sector. The agreement also seeks to boost cooperation in liquefied natural gas, renewable energy, and electricity projects. Meanwhile, the green-digital economic partnership MoU aims to advance collaboration on connectivity, digital innovation, sustainability, infrastructure as well as facilitate Vietnam’s digital transformation with Singapore’s expertise in priority areas. The countries are also looking to develop a model grid that links Singapore and Vietnam for electricity trade and cooperation in the Association of Southeast Asian Nations (ASEAN).

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