Vietnamese and Singaporean PMs positive on bilateral ties

Prime Minister Pham Minh Chinh and his Singaporean counterpart Lee Hsien Loong expressed their appreciation for the positive development in joint relations on both bilateral and multilateral levels during talks held at Istana Palace in Singapore on February 9.

During the talks, PM Loong warmly welcomed PM Chinh’s visit, saying that it contributes to adding fresh impetus to the sound strategic partnership that exists between the two countries and is an important opening event for celebratory activities regarding the 50th anniversary of both nations’ diplomatic relations and the 10th anniversary of Vietnam - Singapore Strategic Partnership in 2023.

PM Loong congratulated the country on its strong socio-economic recovery and development after the pandemic, while affirming that Singapore continues to place great importance on and wishes to further strengthen the strategic partnership with Vietnam.

The Vietnamese Government chief conveyed greetings from Vietnamese leaders to the Singaporean PM and congratulated Singapore on its swift recovery and strong development after the COVID-19 pandemic.

He believes that Singapore will rapidly achieve the goal of "Green Plan 2030" towards building a harmonious and increasingly prosperous society.

The two PMs stated that political trust has been further strengthened through regular exchanges of high-level delegations and through the effective implementation of bilateral co-operation mechanisms.

Most notably, economic ties were also strengthened when Singapore led ASEAN and ranked second in the world in terms of investment capital in Vietnam with 3,095 projects with a total capital of US$70.8 billion, accounting for 22.9% of the total registered FDI capital.

The Vietnam - Singapore Industrial Parks (VSIP) continues to operate very efficiently and represents a symbol of success in investment co-operation.

With regard to the focus of future ties, the two PMs agreed to strengthen political trust, maintain high-level meetings at all levels and through all channels, and constantly boost economic co-operation. This is along with effectively implementing co-operation agreements, including the recently signed Memorandum of Understanding (MoU) on establishing the "Vietnam - Singapore Digital Economy - Green Economy Partnership".

This aims to facilitate the further implementation of co-operation in new and potential fields such as the digital economy, the green and circular economy, innovation, clean energy, and climate change response.

Both sides consented to ramp up links in defence and security, tourism, and people-to-people exchanges, especially between young people.

The Vietnamese cabinet leader therefore requested that the city state consider the possibility of signing a labour agreement between the two nations.

The two sides agreed to consider upgrading the co-operation mechanism between in order to further boost ties between the two countries in the new context.

PM Chinh proposed that Singapore move to increase imports of agricultural products, seafood, and garments and textiles from Vietnam, as well as facilitating the introduction of Vietnamese goods into its own distribution system.

Boasting a stable political system and an increasingly improved investment environment, the Vietnamese side welcomes and is striving to create positive conditions for Singaporean businesses to expand their investment, especially in areas such as digital transformation, green energy, science and technology, and innovation.

The Singaporean PM thanked Vietnam for approving the investment approval policy for the Vietnam - Singapore Industrial Park (VSIP) Nghe An II, supporting PM Chinh's proposals on opening more VSIPs in localities, whilst also fully emphasising support for clean energy co-operation and connection of transmission and sale of electricity.

PM Chinh asked Singapore to move to increase support for Vietnam to develop and improve the quality of human resources, especially staff at the strategic level, as well as to implement the Vocational Education Development Strategy for the 2021 to 2030 period.

He also suggested that the Singaporean Government continue offering optimal conditions for the Vietnamese community in the city state as a means of cementing the two countries' relations on the basis of cultural and people-to-people exchanges.

PM Loong affirmed that the Singapore Government is always interested in creating the right conditions for the Vietnamese community to be treated fairly and have the opportunity to contribute to Singaporean society.

He also highly appreciated Vietnamese students who are known as being hardworking and have recorded plenty of good achievements in study and research.

Regarding regional and international issues, the two leaders concurred to augment co-operation, maintain solidarity, and promote ASEAN's central role, especially in strategic issues such as peace and stability in the East Sea and the region.

PM Chinh invited PM Loong to pay an official visit to Vietnam this year, with his invitation being graciously accepted.

As part of occasion, the two leaders witnessed the signing and hand-over of cooperation documents, including the MoU on the establishment of the Vietnam - Singapore partnership on digital economy and green economy; another on a cooperation plan in economics and trade between the two Ministries of Industry and Trade; the one on youth cooperation between the National Committee on Youth of Vietnam and the National Youth Council of Singapore; and an MoU on maritime cooperation between the Vietnam Maritime Administration and the Maritime and Port Authority of Singapore.