President Truong Tan Sang to pay State visits to Singapore and Malaysia
As Sang’s first overseas trip after he was elected as State President of Viet Nam, the visits aim to affirm Viet Nam ’s consistent policy of strengthening the friendship and multifaceted cooperation between Viet Nam and the two regional countries both bilaterally and at regional and international forums.
Viet Nam and Singapore set up diplomatic ties on August 1, 1973. The Vietnamese Embassy in Singapore opened in December, 1991 and the Singaporean Embassy in Viet Nam was established in September, 1992.
Since 1996, Singapore has been one of Viet Nam ’s largest trade and investment partners, with two-way trade reaching 6.2 billion USD in 2010.
By July 2011, Singapore had 937 valid projects in Viet Nam with a total registered investment of over 23 billion USD, ranking third among 92 countries and territories investing in Viet Nam. Singapore ’s investment mainly focuses on industry, services, infrastructure and real estate.
Most Singaporean projects have been operating effectively in Viet Nam, contributing remarkably to the country’s job generation, exports and economic growth.
Singapore and Viet Nam have also seen a close and effective cooperation in health, education, science and technology, and human resource development. The bilateral ties have been expanded to other areas such as finance, tourism, banking and policymaking.
Meanwhile, Viet Nam and Malaysia established diplomatic ties on March 30, 1973, and opened embassies in each other’s capital city in 1976.
At present, Malaysia is Viet Nam ’s third largest trade partner in ASEAN and the ninth in general. Two-way trade between the two countries has rapidly increased in recent years, reaching 5.5 billion USD in 2010.
Viet Nam mainly exports crude oil, rice, coffee and seafood to Malaysia while importing steel, petroleum, plastic materials, machines and equipment, computers and electronic products from the country.
Malaysia now ranks fifth among countries and territories investing in Viet Nam with 386 projects capitalised at 18.8 billion USD, focusing on mining and communications.
Viet Nam has invested in 7 projects with a total investment of over 812 million USD in Malaysia .
In addition, the bilateral cooperation in labour education, oil and gas, rubber, agriculture, culture, sports and tourism has been developing fruitfully./.
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