Vietnam-Singapore cooperation projects will attract investment and create jobs exponentially.

PV: First of all, could you please tell us the meaning and purpose of the Singaporean Prime Minister's official visit to Vietnam?

Singaporean Ambassador: On March 25-26, Prime Minister Lawrence Wong made his first official visit to Vietnam since taking office. As you know, General Secretary To Lam also made his first official visit to Singapore less than 2 weeks ago. This is the first official visit by a Vietnamese General Secretary to Singapore since 2012. When General Secretary To Lam and Prime Minister Lawrence Wong met in Singapore, the two sides upgraded their relationship to a Comprehensive Strategic Partnership. This is Singapore's first Comprehensive Strategic Partnership with an ASEAN country and Singapore's third Comprehensive Strategic Partnership with important partners.

Singapore Ambassador to Vietnam Jaya Ratnam

Not stopping there, both sides are determined to further promote the relationship in the new era. We are at an important time when this year marks many milestones for both countries. For Singapore, we celebrate the 60th anniversary of Independence Day, the 10th anniversary of the passing of the late Prime Minister Lee Kuan Yew. As you know, the late Prime Minister Lee Kuan Yew and the late Prime Minister Vo Van Kiet were the leaders who laid the foundation for the Vietnam - Singapore relationship, creating momentum for future developments. For Vietnam, this year you also mark many important milestones, such as the 95th anniversary of the founding of the Communist Party of Vietnam, the 80th anniversary of National Day, the 50th anniversary of National Reunification, and the 30th anniversary of joining ASEAN. And now, Vietnam is entering a new era of strong development; facing the opportunity for the economy to take off thanks to industrial modernization, digital transformation and green growth, and deep regional and global integration.

The two countries celebrate these important milestones in the context of an increasingly unstable and unpredictable world. The open, rules-based multilateral system that Singapore and Vietnam have pursued is under severe pressure. In this context, through the visit, the two countries share strategic goals, both are strong supporters of multilateralism, international law and free trade. Both countries also have tangible interests in engaging and cooperating to maintain ASEAN’s centrality and promote regional economic integration.

PV: Could you share the significance of the two countries' recent upgrade to a Comprehensive Strategic Partnership?

Ambassador of Singapore: Singapore and Vietnam are natural partners. The two countries complement each other in terms of existing advantages and support each other in many areas where the two sides are lacking. The elevation of bilateral relations to a Comprehensive Strategic Partnership is not simply a change in name but also reflects the high level of expectations of both countries. This milestone also provides a strategic framework for the Green and Digital Partnership that Prime Minister Pham Minh Chinh and former Prime Minister Lee Hsien Loong initiated in 2023.

I would like to highlight two new bilateral initiatives that we are working on. The first is the green economy promotion project, the Vietnam-Singapore Energy Project (VSEP), which will see major investments by both sides in offshore wind power and submarine cables, which will serve as the foundation for the future ASEAN power grid. This project will position Vietnam as a green energy hub for ASEAN and beyond. Another important area of ​​cooperation that we are promoting is carbon credits, which is expected to help both sides achieve their climate commitments as well as create jobs, encourage green investment and sustainable development in Vietnam. We are working on a Carbon Credit Cooperation Agreement, which we hope will be the first of its kind among ASEAN countries. Therefore, upgrading our relationship to a Comprehensive Strategic Partnership will not only bring us closer together, but also benefit the region as a whole.

PV: From the important milestone when the two countries upgraded diplomatic relations to the highest level, can the Ambassador share about the prospects for cooperation between the two sides in all aspects, especially in economics and trade?

Ambassador of Singapore: The economic, trade and investment cooperation between the two countries has grown strongly over the years. In 2024, Singapore became Vietnam's second largest source of FDI with a total investment capital exceeding 81 billion USD in about 3,800 projects. If in 2024, Vietnam was Singapore's 11th largest trading partner, by January 2025, Vietnam had become Singapore's 9th largest trading partner, showing the dynamic and strong development in bilateral relations.

As Vietnam enters a new era of high economic growth, Singapore’s involvement and support will only increase. Singapore is a long-term partner of Vietnam, with the Vietnam-Singapore Industrial Park (VSIP) model celebrating its 30th anniversary in 2026. VSIP projects have nearly doubled since 2022 – with 9 new VSIP projects added in just 3 years. Vietnam-Singapore Industrial Parks are now spread across the North, Central and South regions. Of these, 11 operational VSIP projects have attracted over US$22 billion in investment and created 300,000 jobs in Vietnam. As new VSIP projects come online, we will see these numbers increase exponentially. But not only expanding in quantity, new projects will be further upgraded, focusing on sustainability and innovation to attract more high-tech FDI and create better jobs for the highly skilled workforce.

In addition, the glue that binds our two countries is our people-to-people ties. One important area is Singapore’s commitment to supporting Vietnam’s human resource development. Under the Singapore Cooperation Programme, more than 22,000 Vietnamese officials have been trained. Over the past two years, we have expanded our human resource development reach, notably through the launch of the Singapore-Vietnam Innovation Talent Exchange Programme.

During the General Secretary’s visit, we agreed to step up training programmes in Singapore, through the Memorandum of Understanding signed between the Lee Kuan Yew School of Public Policy (LKYSPP) and the Ho Chi Minh National Academy of Politics (HCMA) to expand training of senior party officials. There are now more and more Vietnamese people travelling, working or studying in Singapore and vice versa. This friendship network will grow stronger and stronger, contributing to the growing bilateral relationship between the two countries.

PV: Thank you Ambassador for this interview!

Source: https://vov.vn/kinh-te/cac-du-an-hop-tac-viet-nam-singapore-se-hut-dau-tu-tao-viec-lam-theo-cap-so-nhan-post1163529.vov