Vietnam and Singapore looking to foster greater ASEAN solidarity
VOV.VN - Vietnamese Prime Minister Pham Minh Chinh’s visit to Singapore from February 8 to 10 is expected to forge closer ties between the two countries whilst simultaneously helping ASEAN to address future challenges, according to Asiatimes in its Opinion column published on February 6.
Asiatimes assessed that ASEAN faces enormous challenges in both the immediate and long terms due to global geopolitical changes and the potential for a new world order. The bloc also faces a gloomy global economic outlook, particularly following the International Monetary Fund (IMF) cutting its global growth forecast for 2023 to 2.7%.
As Singapore and Vietnam both represent dynamic economies and fervent supporters of multilateralism, intra-regional solidarity can be considered a vital part of ASEAN moving forward in order to stand firm in the face of the changing global situation.
Furthermore, the two countries recognise that development is key to solving many problems, meaning that the two countries will contribute to the growth engine to ensure that ASEAN can effectively address the challenges ahead.
Asiatimes noted that Vietnam came out of the COVID-19 pandemic in a pretty solid position in 2022, with its GDP growth expanding by about 8% and inflation being kept in check. Its impressive economic performance shows that the country has successfully overcome the negative impact of the pandemic and efforts to slow its spread.
Singapore has approximately 3,000 valid projects with a total registered capital of nearly US$70.3 billion in Vietnam, representing Vietnam’s largest investor in ASEAN and ranking second out of 140 countries and territories investing in the country.
The level of co-operation between these two dynamic economies will not only deal with their own problems, but also solve the economic challenges that exist for the entire ASEAN community. As a result, it is expected that after PM Chinh’s visit and meetings with Singaporean leaders links between both sides will be further developed, commented Asiatimes.
Vietnam and Singapore will therefore jointly contribute their strengths, supporting inclusion. In some respects, Singapore can promote its dynamism and support Vietnam and other ASEAN countries to expand their approach to address regional challenges.
Moreover, the Vietnamese side can also contribute solutions to ASEAN when East and West are polarised. Most notably, its excellent agricultural capacity can help the bloc to better withstand the global food-security crisis, which is getting worse.
The two countries are also drawing closer together for the cause of substantive and effective development, becoming a model of co-operation among ASEAN countries. They both anticipate that PM Chinh’s visit will boost bilateral cooperation, including ties in science, technology, trade, and investment.
Both sides will seek to support each other to promote the progress of digital transformation based on important technology deals moving forward.
The visit of the Vietnamese PM to Singapore this week, as well as being a prime example of effective bilateral cooperation, will be a driving force for ASEAN solidarity and resilience against pressure from big countries in an ever-changing world, concluded Asiatimes.