The signing of the deal was witnessed by Vo Van Hoan, Vice Chairman of the city People’s Committee, and Singaporean Ambassador to Vietnam Jaya Ratnam.

At the signing ceremony

Sharing the city’s development orientations in the future, Hoan said that the city aims to become a smart and innovative city and a financial centre of the country and the region.

Its Thu Duc city is designed to be a high-tech city, he said, adding that HCM City hopes that Singaporean firms will seek investment opportunities in the city and engage in the building and development of the city.

Hoan underlined HCM City defines that economic development must go along with the improvement of the sustainable growth of the city as it is facing many challenges in urban expansion, including fast construction speed, high population density, and environment pollution.

Therefore, the MoU will lay the foundation for cooperation between the two sides in an important issue of the city, and pave the way for bilateral collaboration in the future, he said.

For his part, Ambassador Jaya Ratnam noted that the relationship between Singapore and Vietnam and HCM City in particular has seen strong growth. He spoke highly of important achievements that Vietnam and the city have gained in COVID-19 prevention and control.

The diplomat said that over the years, Singapore has been the largest investor in HCM City, which reflects the great interest and confidence of Singaporean investors in the city at present and in the future. Singaporean firms are willing to work with HCM City partners in sustainable urban development, he added.

Under the MoU, the two sides will support each other in the coordination among experts and businesses to give consultancy and training for HCM City in coping with challenges arising during the urban development process, while collaborating in giving advice or organising training to improve the life quality and sustainability in housing development, smart city, planning adjustment, as well as in urban infrastructure, traffic, land management, architectural conservation, and green space.

Both sides also agreed on other cooperation formats such as meetings, conferences and workshops, as well as in the provision of consultation services and programmes on capacity improvement

Source: VNA