Bringing Vietnam-Singapore relations into a new era of cooperation

Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lawrence Wong held their first talks within the framework of the annual meeting between the two Prime Ministers, on the occasion of attending the 44th and 45th ASEAN Summits in October 2024. (Photo: VGP)

Singaporean Prime Minister Lawrence Wong's visit to Vietnam takes place at a time when the relationship between the two countries is developing very well in many areas, with a solid foundation of political trust and close ties in economic, trade and investment cooperation.

During the recent historic official visit of General Secretary To Lam to Singapore, the two sides announced the upgrading of bilateral relations to a Comprehensive Strategic Partnership, opening a bright new chapter in the journey of development that has lasted for more than half a century between the two countries. Vietnam is also the first country with which Singapore has established a Comprehensive Strategic Partnership within ASEAN.

Political and diplomatic cooperation has been enhanced by the two sides with increased frequency of high-level delegation exchanges. Cooperation through Party, State, Government, National Assembly and people channels has been promoted.

Our Party maintains a good cooperative relationship with the ruling People's Action Party (PAP) in Singapore in many diverse and substantive forms. Leaders of the two Parties regularly exchange opinions on experiences in national construction and development; the two sides are effectively coordinating to implement cooperation in the field of training and fostering strategic-level officials. Parliamentary cooperation has recorded developments, notably the signing of a cooperation agreement between the Vietnamese National Assembly and the Singaporean Parliament.

Economic cooperation is a bright spot in Vietnam-Singapore relations. In 2024, total bilateral trade turnover will reach 10.3 billion USD, up 14.7% compared to 2023. Also in 2024, for the first time, Vietnam will surpass Thailand and India to become the largest rice exporter to Singapore.

As the leading ASEAN investor in Vietnam, Singapore currently ranks second among countries and territories investing in Vietnam, with a total registered capital of over US$84 billion. The Vietnam-Singapore Industrial Parks (VSIP) network, a symbol of successful economic cooperation between the two countries, is present in 13 provinces and cities of Vietnam.

The VSIPs have attracted over 18.7 billion USD in investment capital, creating jobs for over 300,000 workers. In contrast, Vietnam currently has 153 investment projects in Singapore, with a total registered capital of over 690 million USD, mainly focusing on the fields of science-technology and information-communications.

The “sweet fruits” of economic cooperation between Vietnam and Singapore are thanks to the long-term and persistent cultivation of generations of leaders and people of the two countries. The two countries have effectively maintained the mechanism of the Ministerial Meeting on Connecting the Two Economies on the basis of the Framework Agreement on Connecting the Two Economies of Vietnam and Singapore to review and remove obstacles, and at the same time exchange orientations, solutions, and specific action plans to enhance economic and trade cooperation.

Singapore is also the first country with which Vietnam established the Green Economy-Digital Economy Partnership (February 2023), creating an important initial step, helping to lead the transformation of the two economies into new potential areas such as digital economy, green and circular economy, innovation, clean energy, and climate change response.

During General Secretary To Lam's official visit to Singapore in March 2025, the two sides signed many cooperation documents in the fields of wind power trade, digital transformation, financial innovation, etc., creating an important foundation for practical and effective implementation of the Vietnam-Singapore Comprehensive Strategic Partnership in the coming time.

Besides economics, cooperation between Vietnam and Singapore in other fields has also achieved many successes, including the excitement in education and training cooperation. The two sides signed a Memorandum of Understanding on educational cooperation in August 2023; established twinning between training institutions and provided each other with many scholarships for undergraduate and postgraduate training; and exchanged many delegations of officials, lecturers, students and pupils of the two countries.

Since the late 1990s, the Singaporean Government has annually provided Vietnam with 30 high school scholarships, which will be doubled from 2023. In addition, five agreements between the two Ministries of Foreign Affairs on training Communist Party of Vietnam officials in Singapore have been effectively implemented, contributing to improving the quality and staff.

In the context of the two countries having just upgraded their relationship to a Comprehensive Strategic Partnership, the Singaporean Prime Minister’s official visit to Vietnam is an important event, contributing to consolidating the foundation of high-level political trust between the two countries and bringing the Vietnam-Singapore relationship into a new era of cooperation. The visit also affirms that Vietnam, together with Singapore and ASEAN member countries, are determined to build a united and strong ASEAN Community, contributing to maintaining peace, stability, cooperation and development in the region and the world.

Nhandan.vn

Source: https://nhandan.vn/dua-quan-he-viet-nam-singapore-buoc-vao-ky-nguyen-hop-tac-moi-post867696.html