The roundtable attracted the participation of more than 100 businesses from Singapore and Vietnam operating in various sectors, including high technology, telecommunications, banking and finance, energy, aviation, construction and real estate, urban development, agricultural processing and manufacturing, health care, and human resource training.

In his remarks, To Lam emphasized that Vietnam-Singapore relations are reaching new heights based on shared strategic interests, fruitful cooperation, and a strong friendship nurtured over more than 50 years of diplomatic ties and over 10 years of strategic partnership.

Meanwhile, the ASEAN community is becoming increasingly cohesive and complementary. Notably, the enforcement of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has created new economic cooperation opportunities and breakthroughs for the future. The Vietnam-Singapore Connectivity Framework Agreement, signed between the two governments, has further promoted comprehensive cooperation in various sectors.

Today, Vietnam-Singapore relations are regarded as a model of dynamic and effective partnership within ASEAN, serving as a benchmark for strengthening intra-regional and broader regional cooperation mechanisms, said the leader.

While economic cooperation has yielded encouraging results, it has yet to fully match the potential of both countries, he reminded.

To Lam held that there remains vast untapped potential for collaboration, driven by the strong internal strengths of each country and the momentum of the modern era - an era defined by scientific and technological revolutions, deeper regional integration, and connectivity.

He emphasized that Vietnam will continue to develop policies to support and facilitate ongoing investments. He highlighted the need for Vietnam and Singapore to connect their economies, by for instance leveraging Singapore’s strengths in finance, scientific and technological advancements, innovation hubs, and logistics systems.

Vietnam, on the other hand, possesses abundant human resources, a large and dynamic market, a hardworking labour force, and favorable conditions for production and development, including land, natural resources, and rice.

Deeper cooperation between Vietnam and Singapore presents significant opportunities for mutual growth, he remarked.

The Party leader stressed the importance of adopting a forward-thinking mindset and overcoming existing limitations, saying Vietnam’s connectivity efforts extend beyond Singapore to the entire ASEAN region, contributing to regional peace and development.

With the goal of becoming a high-income economy by 2045, Vietnam must begin preparations now and strengthen international cooperation, he stated.

According to the leader, Vietnam has been focusing on improving its legal and institutional frameworks to ensure stability and favourable conditions for both citizens and domestic and foreign investors. The country is also reforming its administrative system, prioritizing businesses and citizens at its core. For the first time, Vietnam has outlined plans to establish a regional and international financial center.

To achieve these ambitions, he noted, Vietnam must accelerate advancements in science, technology, and digital transformation, making it essential to expedite agreements on green economy and digital economy partnerships.

During the discussion, Singaporean businesses, experts, and economists shared their experiences in financial market development and the establishment of Singapore as an international financial center. They also discussed ways of promoting science, technology, innovation, and investment in high-tech industries. In addition, they provided insights on investment strategies, technological development, financial hub construction, and recommendations for Vietnam’s economic growth. Many technology corporations shared their expertise on chips, quantum computing, and data management.

General Secretary To Lam welcomed recommendations, and affirmed that both sides could collaborate to enhance data quality and security. He encouraged businesses to continue investing to help establish a regional and international financial center in Vietnam.

A number of cooperation documents were signed and exchanged by Vietnamese and Singaporean businesses at the event.

Vietnam-Singapore strategic partnership in focus

VOV.VN - Over the past 52 years, the traditional friendship and cooperative relations between Vietnam and Singapore have seen positive developments across multiple fields, particularly following the elevation of the ties to a strategic partnership in 2013.