The article said Party General Secretary and State President To Lam’s upcoming State visit to Singapore from May 29-31 comes as supply chain shifts, economic uncertainty, energy market volatility and changing regional dynamics continue to affect businesses across Asia and ASEAN.

According to the article, relations between Vietnam and Singapore are becoming increasingly important not only for bilateral economic cooperation, but also for ASEAN’s connectivity, resilience and long-term growth.

AsiaInvest noted that over the past decade, the two countries have steadily expanded cooperation in trade, investment, digital transformation, green growth and regional cooperation. It described Singapore and Vietnam as having complementary strengths within ASEAN, with Singapore serving as a leading regional hub for finance, logistics and innovation, while Vietnam has emerged as one of Asia’s fastest-growing manufacturing and digital economies.

It highlighted economic cooperation as a key pillar of bilateral relations. Singapore is currently one of Vietnam’s leading economic partners and among the country’s largest foreign investors. As of early 2026, Singaporean investors had about 4,463 valid projects in Vietnam with total registered capital of around US$91.6 billion, accounting for more than 17% of total foreign direct investment (FDI) in the country.

Cooperation momentum has continued this year. In the first two months of 2026 alone, Singaporean businesses registered more than US$1.48 billion in new investments in Vietnam, up nearly 28.5% year-on-year. The article said the figures reflected growing confidence among Singaporean businesses in Vietnam’s long-term growth prospects, manufacturing capabilities and improving investment environment.

One of the most visible symbols of bilateral economic cooperation highlighted in the article was the Vietnam-Singapore Industrial Park (VSIP) network. After nearly three decades of development, the network has expanded to 22 industrial parks across Vietnam and is expected to grow to 30 parks by the end of 2026.

Covering around 12,000 hectares, the VSIP network has attracted more than 1,000 companies and around US$23.4 billion in investment capital. In addition to attracting FDI, the industrial parks have also contributed to technology transfer, industrial upgrading, workforce development and industrialisation in many Vietnamese localities.

Trade relations between the two countries have also grown strongly in recent years. Bilateral trade approached S$40 billion, equivalent to about US$31.3 billion, in 2025, up 26.2% from 2024, making Vietnam Singapore’s 10th-largest trading partner globally. Notably, Singapore’s imports from Vietnam rose more than 53% to around S$13.1 billion.

The growth trend continued this year. In the first quarter of 2026, bilateral trade rose 38.3% year-on-year to around S$13.6 billion. The island city-state’s imports from Vietnam jumped nearly 129%, as demand increased for products such as electrical machinery, energy products, petroleum products, high-tech manufacturing goods and mechanical equipment.

These sectors are increasingly tied to high-tech manufacturing, artificial intelligence (AI) infrastructure and the restructuring of global supply chains. The article added that the deepening economic relationship between Singapore and Vietnam also shows the two countries’ common ambition to play a bigger role in ASEAN’s next phase of economic transformation, particularly in areas such as the digital economy, green transition, high-tech manufacturing, smart logistics and emerging technologies.

In addition to economic cooperation, the article said both Singapore and Vietnam continue to support regional cooperation, openness and stronger ASEAN connectivity. As the world becomes more interconnected yet increasingly uncertain, stronger partnerships among ASEAN member states are seen as important to maintaining the region’s resilience and long-term economic development.

Singapore and Vietnam shared common interests in maintaining open trade, promoting international cooperation and building a stable business environment to support investment and cross-border economic activities, the article continued.

It added that as ASEAN adapts to an increasingly uncertain global environment, long-term partnerships among member states will become even more important. With complementary economies, a practical approach and a long-term strategic orientation, Singapore and Vietnam are seen as being in a strong position to contribute to ASEAN’s future growth and integration.

According to the article, Party General Secretary and State President To Lam’s upcoming visit will therefore provide an important opportunity to further strengthen bilateral cooperation and economic connectivity between the two nations in the years ahead.

Singapore seeks to increase rice, agricultural imports from Vietnam

VOV.VN - Singapore has expressed its desire to increase imports of rice and agricultural products from Vietnam, as the two countries have agreed to expand cooperation in agricultural trade, carbon credits and urban environmental management.

Top Vietnamese leader’s Singapore visit to create fresh momentum for bilateral ties

The upcoming state visit to Singapore by General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam and his spouse will create fresh momentum for elevating Vietnam-Singapore ties following more than a year of enhanced cooperation under the Comprehensive Strategic Partnership.