Prime Minister Pham Minh Chinh presided over the welcoming ceremony for the Prime Minister of Singapore.

Prime Minister Pham Minh Chinh chaired the official welcoming ceremony for Singaporean Prime Minister Lee Hsien Loong at the Presidential Palace.

At the welcoming ceremony this morning, Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong saluted the flag and reviewed the honor guard of the Vietnam People's Army.

After the welcoming ceremony, the two leaders held talks and witnessed the signing of cooperation documents. Prime Minister Lee Hsien Loong will also meet with General Secretary Nguyen Phu Trong, President Vo Van Thuong and National Assembly Chairman Vuong Dinh Hue, and will also have a number of activities in Hanoi.

*Prime Minister Pham Minh Chinh and Prime Minister Lee Hsien Loong inspect the honor guard at the welcoming ceremony at the Presidential Palace on the morning of August 28. Photo: Giang Huy*

Prime Minister Lee Hsien Loong's official visit to Vietnam on August 27-29 is considered a highlight as the two countries celebrate 50 years of diplomatic relations and 10 years of strategic partnership.

Singapore is Vietnam's leading economic partner in the region. The two countries are always among each other's 15 largest trading partners, with Vietnam being Singapore's 12th largest trading partner and Singapore being Vietnam's 15th largest trading partner. The total trade turnover between Vietnam and Singapore in 2022 is expected to reach about 9.15 billion USD, an increase of 11.57% compared to 2021.

Singapore leads ASEAN and ranks second in the world in terms of investment capital in Vietnam with 3,273 projects, total capital of 73.4 billion USD.

Vietnam - Singapore Industrial Parks (VSIP) are a symbol of economic cooperation between the two countries with 14 VSIPs in 10 provinces and cities of Vietnam, attracting 18.7 billion USD in total investment capital for about 866 projects, creating nearly 300,000 jobs.

During Prime Minister Pham Minh Chinh 's visit to Singapore in February, the two countries established a Digital Economy - Green Economy Partnership, creating a premise to promote cooperation in new fields, towards green and sustainable development.