Singapore Continue to Promote Bilateral Cooperation in the Financial Sector
On the morning of August 5, the delegation of the Ministry of Finance of Vietnam led by Minister Ho Duc Phoc had a working session with Mr. Chee Hong Tat – Second Minister, Ministry of Finance of Singapore.
Attending the meeting, from the Ministry of Finance of Vietnam, there were Mr. Mai Phuoc Dung – Ambassador Extraordinary and Plenipotentiary of Vietnam in Singapore; Mr. Mai Xuan Thanh – Director General of the General Department of Taxation; Dinh Ngoc Thang – Deputy Director General of the General Department of Customs; Mr. Ha Duy Tung – Director of the International Cooperation Department (Ministry of Finance); Mr. Han Quang Huy – Deputy Chief of Office of the Ministry of Finance. On behalf of the Singapore Ministry of Finance, there were Ms. Lina Chua – Director, International Cooperation Department; Mr. Foo Guozhi – Deputy Director of the Tax Policy Department and members of the International Cooperation Department.
Expressing his pleasure to welcome and work with the Head of the Ministry of Finance of Vietnam and the Working Group, Mr. Chee Hong Tat – Second Minister, Ministry of Finance of Singapore hopes that this working visit will be an opportunity to Association for closer connection and cooperation between the two countries’ Ministries of Finance. Sharing about investment cooperation opportunities between the two countries, especially in the financial sector, Second Minister, Ministry of Finance of Singapore –Chee Hong Tat, emphasized that in the coming time, areas that can promote cooperation cooperation and aim to upgrade the relationship between the two countries to a comprehensive strategic partnership, including: energy, services, and financial services. Besides, the two countries can promote sharing of experiences, good practices, and business investment opportunities.
At the meeting, Minister Ho Duc Phoc also expressed his wish for the Singapore Ministry of Finance to share more experiences related to modernizing tax and customs management; solutions to protect system security, especially policy mechanisms from the Ministry of Finance to promote and facilitate the modernization of customs and taxes and experience in preventing risks in the modernization process; Propose cooperation in training and capacity building for securities management agencies and stock exchanges.
Thanking Minister Ho Duc Phoc for sharing, Second Minister Chee Hong Tat said that the Singapore Ministry of Finance agreed with Minister Ho Duc Phoc’s proposals on promoting cooperation in the fields of tax and customs agencies and will direct and coordinate Singaporean agencies to coordinate with Vietnamese partner agencies to implement proposed cooperation contents. The Singapore side also wants to learn and share experiences from Vietnam to work towards mutually beneficial cooperation and create opportunities for businesses of the two countries. Second Minister Chee Hong Tat affirmed that the Singapore Ministry of Finance is very willing to share experience, information, organize training, and share best practices in management and supervision. “Vietnam’s investment in infrastructure development and transportation connections such as building seaports, airports, and roads will facilitate transportation and connectivity, helping businesses in the water and import and export activities. In addition, Vietnam has a good opportunity to attract foreign investment when some supply chains in the world are broken.“, Singapore’s Second Minister shared.
