Singapore was Vietnam’s second-largest foreign investor as at last December, with a cumulative investment of US$70.8 billion .
A day earlier, the two ministers co-chaired the annual Singapore-Vietnam Connectivity Ministerial Meeting, where they discussed collaborations in new and emerging areas. They also noted progress made in sectors such as education, finance, and information technology and telecommunications. On the sidelines of Sunday’s meeting, an MOU on innovation cooperation was signed between Singapore’s Agency for Science, Technology and Research and Vietnam’s National Innovation Centre.
The deal establishes an innovation talent exchange programme between both countries. A joint task force will be set up to support the implementation of the MOU, which was signed by Dr Tan, Mr Dzung and Vietnam’s Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung. The third MOU advances collaboration between Singapore and Ho Chi Minh City in sustainable urban development and infrastructure, and aims to improve the bankability of such projects.
Once the implementation agreement is signed, companies in Singapore that are carbon tax-liable will be able to buy eligible carbon credits generated from authorised projects to offset up to 5 per cent of their taxable emissions from 2024.In the area of renewable energy, a consortium comprising Sembcorp Utilities and PetroVietnam Technical Services Corporation was given approval by the Vietnamese authorities to conduct a site survey on offshore wind energy.
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