On the occasion of Singaporean Prime Minister Lee Hsien Loong and his wife's official visit to Vietnam from August 27-29, VNA reporters in Singapore interviewed Dr. Le Hong Hiep, working at the ISEAS - Yusof Ishak Institute Singapore, about the significance of this visit, as well as highlights in the recent relations between the two countries.
Dr. Le Hong Hiep. Photo: The Vu/VNA
According to Dr. Le Hong Hiep, Vietnam and Singapore are currently each other's leading important partners in many fields, from trade, investment to diplomacy, security and defense. In that context, the frequent bilateral visits by leaders of the two countries are understandable and a positive trend. In addition to the purpose of reciprocating according to diplomatic practice, the visits also contribute to strengthening bilateral relations, enhancing strategic trust between the leaders of the two countries, and contributing to the realization of existing agreements and the signing of new agreements, especially in the field of economic cooperation. According to Dr. Le Hong Hiep, all these activities will contribute to further deepening the bilateral strategic partnership and help the two countries achieve their diplomatic, strategic and domestic goals, especially in the field of economic development. Dr. Le Hong Hiep said that the bilateral relationship between Vietnam and Singapore has generally developed quite comprehensively in recent times, covering areas from diplomacy, security, strategy, to trade and investment. In particular, recently, the two sides have also expanded cooperation to new areas such as green economy, digital economy, and innovation. He assessed that in the above areas, a prominent highlight is the bilateral investment relationship, especially Singapore's investment in Vietnam. In recent years, Singapore has always been the country with the largest registered investment capital in Vietnam. In the first 7 months of this year, among 94 countries and territories investing in Vietnam, Singapore ranked first with a total investment capital of nearly 3.64 billion USD, accounting for more than 22.4% of the total investment capital in Vietnam. According to the Doctor, in addition to investment capital from large Singaporean enterprises such as Capitaland, Sembcorp, or Mappletree, Singapore also plays a role as a gateway to bring international capital into Vietnam, when many multinational companies invest in Vietnam through legal entities established in Singapore. Singapore is also a gateway for many Vietnamese enterprises to raise capital from foreign investors, or to enter the international market, a typical example is the case of electric vehicle manufacturer VinFast. He recommended that in the coming time, the two sides should continue to promote cooperation in traditional areas that have been well implemented in the past, such as infrastructure development, education and training, or trade and investment. On the other hand, the two sides need to promote cooperation in new areas, such as climate change response, green economy, digital economy, and innovation. These are potential areas with great room for cooperation, while meeting the development goals of the two countries. Dr. Le Hong Hiep said that in the field of green economy and climate change response, the two countries are discussing the development of offshore wind farms in Vietnam and exporting electricity from these wind farms to Singapore. According to him, such projects will help both countries reduce greenhouse gas emissions and achieve the goal of net zero emissions in the future, while helping Vietnam exploit its great potential for renewable energy for sustainable economic development. In addition, he said that with the two sides sharing strategic visions on the regional and international security situation, the two sides can also consider deepening bilateral cooperation in the fields of security and defense. In addition, the two sides can also strengthen consultation and coordinate their positions in international forums to better protect their national interests and contribute to maintaining a rules-based international order, which is beneficial to the security and prosperity of the two countries. Dr. Le Hong Hiep assessed that within the Association of Southeast Asian Nations (ASEAN), Vietnam and Singapore have quite close strategic thinking. In particular, both countries emphasize the role of a balanced diplomatic strategy, strategic autonomy, the supremacy of international law, as well as the need to maintain a rules-based international order. He said that both countries also share the vision of a united, cohesive ASEAN that plays a central role in regional security structures. All of these create favorable conditions for the two countries to consult and coordinate their views and positions on issues of mutual concern. According to him, in the immediate future, the two sides need to coordinate their views to properly resolve fundamental issues directly related to bilateral interests such as the East Sea or the management of Mekong River water resources. In addition, other issues such as handling the political crisis in Myanmar or managing ASEAN's relations with the US and China in the context of increasingly fierce strategic competition between the two powers are also important issues that the two countries need to coordinate on to help shape an effective common response for the entire ASEAN bloc. He emphasized that such coordination activities will also contribute to enhancing political trust between the two countries, thereby helping to further deepen the bilateral strategic partnership in the long term.
Baotintuc.vn
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