Minister of Planning and Investment Nguyen Chi Dung and Singaporean Minister of Industry and Trade Tan See Leng have agreed to set up a working group to promote cooperation between the two countries in economics and the green economy.

Agreement was reached at the 17th Ministerial Meeting on Vietnam-Singapore Connection held in Hanoi on August 27.

The Vietnam-Singapore Connection Framework Agreement was signed between the two governments in 2005. It is a comprehensive cooperation agreement between the two sides that focuses on six major areas: finance, education and training, transport, information technology and communications, investment, and trade and services.

At the meeting, the two sides discussed orientations to expand cooperation in new fields such as energy and sustainable development.

Minister Dung said Vietnam is committed to continuing to improve the investment environment, complete the legal system and foreign investment policies, and support Singaporean investment projects in Vietnam.

He proposed that Singapore consider increasing imports of Vietnamese agricultural products.

Two-way trade reached S$16.8 billion ($12.38 billion) in the first seven months of 2023.