The People’s Committee in the central province of Quang Tri signed a memorandum of understanding (MoU) with the Singapore Manufacturing Federation (SMF) via a video conference late last week.
The two sides have agreed that this year the Singaporean not-for-profit organisation will introduce experts to assist the province with its planning and propose ideas, solutions, and adjustments to a master plan for the South East Quang Tri coastal economic zone.
Quang Tri authorities have allowed enterprises introduced by SMF to conduct feasibility studies and submit investment proposals for certain infrastructure projects, including those on the construction of airports, seaports, and industrial parks.
Speaking at the signing ceremony, Secretary of the provincial Party Committee Le Quang Tung said the agreement marked a milestone in Quang Tri’s socio-economic development strategy and would present opportunities for the comprehensive and sustainable development of the two sides’ operations in the future.
He also voiced his hope that SMF would promptly carry out cooperation plans and propose ideas that capitalise on the potential and advantages the province holds.
SMF had studied opportunities for Singaporean firms to invest in Quang Tri since 2016, SMF President Douglas Foo said. — VNS