Singaporean Deputy Prime Minister Teo Chee Hean has expressed his country’s interest in Vietnam’s high-tech zones during his visit to the Southeast Asian country from September 12 to 14, the Vietnam News Agency reported.

The high-ranking Singaporean official was welcomed by Vietnamese State President Tran Dai Quang to Hanoi on Monday, as part of his trip to Vietnam to attend the 20th founding anniversary of the Vietnam-Singapore Industrial Park (VSIP) in the southern province of Binh Duong. 

Speaking to his guest, President Quang expressed his satisfaction with the positive development in the two nations’ bilateral relationship, evidenced by the stronger political trust with more regular exchanges between top officials.

The Vietnamese head of state suggested further collaboration in defense and security, the prevention of and early warning of terrorism risks, extremism, and cyber, organized, and transnational crimes.

New economic deals were also proposed during the visit, including those between businesses and financial institutions from the two countries, according to President Quang.

He expressed his pleasure at the strong development of VSIP over the past 20 years, which has contributed to the connection of the two economies, hoping that Singaporean enterprises would actively invest in Vietnam via venture capital funds, while sharing information and experience to help Vietnamese firms integrate with the global market.

According to Deputy PM Teo, Singaporean investors are very interested in hi-tech development projects in Vietnam, especially in the highly-applicable industrial sectors.

Foreign investors, including those from Singapore, mainly focus on the country’s measures and policies to improve its investment environment, he added.

Regarding the regional and international situation, President Quang praised Singapore’s viewpoints on the East Vietnam Sea issue, hoping the city-state would fulfill its role as a coordinator of ASEAN-China relations.

ASEAN is short for the Association of Southeast Asian Nations, which is a political and economic organization whose members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Following his meeting with the Vietnamese head of state, Deputy PM Teo also met with his Vietnamese counterpart Truong Hoa Binh on the evening of the same day, according to the Vietnam News Agency.

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