Nguyen Hoa Binh said he was pleased to visit Singapore in the early days of 2026, thanked the host side for the warm and courteous reception, and spoke highly of Singapore’s recent achievements in socio-economic development.

Deputy Prime Minister Gan Kim Yong welcomed the visit by Nguyen Hoa Binh and the Vietnamese delegation, noting that it reflects the proactive and active efforts of both sides to implement the Comprehensive Strategic Partnership framework established during Party General Secretary To Lam’s official visit to Singapore in March 2025.

The two leaders expressed satisfaction with the strong momentum in bilateral cooperation, with regular high-level exchanges and effective operation of bilateral mechanisms, notably the annual meeting mechanism between the two PMs.

Economic cooperation remains a bright spot, with Singapore the largest investor among ASEAN members and the second-largest investor overall in Vietnam, with about 4,400 valid projects and registered capital exceeding US$90 billion.

Vietnam-Singapore Industrial Parks (VSIP) continue to operate effectively and expand, now totaling 21 parks across 14 provinces and cities nationwide. The two sides also maintain close consultation and coordination at regional and international forums, especially within ASEAN.

Amid evolving regional and global developments, both sides agreed to further strengthen comprehensive cooperation, effectively implement the 2025-2030 action program under the Vietnam-Singapore Comprehensive Strategic Partnership, and step up economic and investment cooperation, particularly in emerging and high-potential areas such as agriculture, energy, next-generation VSIP 2.0 development, carbon credits and digital technologies.

They also reaffirmed coordination with other ASEAN member states to build a cohesive and resilient ASEAN Community for peace, stability, cooperation and development in the region and beyond.

At the meeting, Nguyen Hoa Binh briefed Gan Kim Yong on Vietnam’s recent establishment of an international financial center aimed at mobilizing high-quality resources, especially financial capital, for the country’s next development phase.

Given Singapore’s extensive experience in this field, the Vietnamese delegation expressed interest in studying and learning from Singapore’s model to support the development of Vietnam’s newly established center.

The delegation proposed that Singapore share experience in institutional design and operating mechanisms, governance and supervision to ensure financial and systemic security, and the development and management of emerging financial segments linked to the center.

Both sides were also encouraged to explore measures to enhance financial connectivity between the international financial centers of Vietnam and Singapore, as well as practical cooperation programs between the centers in Ho Chi Minh City, Da Nang and Singapore in training and human resource development, particularly for high-quality financial management and supervisory personnel.

Binh welcomed the plan by Singapore’s UOB Bank to soon break ground on its headquarters building at the international financial center in Ho Chi Minh City, and called on Singaporean enterprises, banks and financial funds to expand investment and operations at Vietnam’s center.

Gan Kim Yong welcomed Vietnam’s decision to establish an international financial center, describing it as timely and well considered, congratulated Binh on his appointment as Chairman of the Executive Council of Vietnam’s international financial center, and affirmed his nation’s readiness to support Vietnam and share operational experience, while enhancing financial connectivity between the two countries’ centers.

He also outlined Singapore’s experience in developing its international financial center, highlighting the central role of the central bank and domestic banks, the importance of building cooperation networks with foreign banks and financial institutions, the need for progressive yet rigorous regulatory frameworks, and the priority placed on developing a skilled workforce from both domestic and international sources. He agreed to ramp up cooperation between the international financial centers of Singapore and Vietnam, enabling them to complement each other and contribute to ASEAN’s overall development.

On the same day, the Deputy PM also held working sessions with leaders of the Singapore International Arbitration Centre (SIAC) and the Singapore Economic Development Board (EDB).

Earlier during the visit, Binh and his delegation laid flowers at the statue of President Ho Chi Minh at the Asian Civilisations Museum, met with staff of the Vietnamese Embassy and representatives of the Vietnamese community in Singapore, and visited UOB headquarters for talks with Wee Ee Cheong, Deputy Chairman and Chief Executive Officer of UOB.

Under the program, Nguyen Hoa Binh is scheduled to meet Singapore Senior Minister Lee Hsien Loong on January 13 and hold working sessions with the Association of Banks in Singapore, the Singapore FinTech Association and the Singapore Exchange (SGX).

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