|Deputy Prime Minister cum Foreign Minister Pham Binh Minh and Singaporean Foreign Minister Vivian Balakrishnan (L).
For nearly half a century, the two nations’ relationship has been cultivated and developed across a variety of fields by the generations of leaders and the people of the two countries, as evidenced by the regular delegation exchanges and meetings at all levels.
In 2017 alone, Singaporean Prime Minister Lee Hsien Loong visited Vietnam in March and November for his attendance at the APEC Economic Leaders’ Meeting, while Prime Minister Nguyen Xuan Phuc visited Singapore and attended the 32nd ASEAN Summit in April of this year.
Prime Minister Nguyen Xuan Phuc is scheduled to visit Singapore and attend the 33rd ASEAN Summit in November. Therefore, the forthcoming visit to Singapore of Deputy Prime Minister cum Foreign Minister Pham Binh Minh and his wife will add fresh impetus to the sound development of the two nations’ time-honoured friendship.
During the visit, Pham Binh Minh will meet President Halimah Yacob, Prime Minister Lee Hsien Loong, and hold talks with Foreign Minister Vivian Balakrishnan. The two sides will discuss measures to implement the agreements reached during Prime Minister Nguyen Xuan Phuc’s official visit to Singapore in April, 2018. Other topics for discussion are the stepping up of bilateral cooperation and cooperation within the Association of Southeast Asian Nations (ASEAN), as well as comparing notes on regional and international issues of shared concern.
Minh and his wife are set to attend the "Vietnam Culture Day in Singapore" event which marks an important milestone in the 45 years of Vietnam-Singapore diplomatic relations (1973 -2018). This cultural event exemplifies the joint efforts to promote mutual understanding and is seen as a vivid manifestation of the two countries’ cultural exchange, while serving as an important bridge to foster friendship.
Defense and security cooperation between the two countries has been greatly strengthened, especially in anti-terrorism and cyber security, and reciprocal visits by navy ships.
Further to their healthy political relations, economic, trade and investment cooperation has gone from strength to strength over recent years.
There has been a sharp upswing in direct investment from Singapore into Vietnam. Singapore is currently the largest investor in Vietnam of the ASEAN countries and is third in the world overall. To the end of May 2018, Singapore had set up 2,048 investment projects in Vietnam with a total investment capital of US$43.53 billion.
The island city-state is presently Vietnam's second largest trading partner in ASEAN and the eighth in the world. There has been unprecedented growth in the export and import turnover between the two countries, with last year’s total trade value swelling by 8.9% to US$ 8.3 billion over the year previous.
There is no denying that the relationship between Vietnam and Singapore has seen a steady, substantial and effective development in all pillars of their strategic partnership and both nations hold huge potential for further growth in future.
The forthcoming visit to Singapore by Deputy PM cum Foreign Minister Pham Binh Minh and his wife will surely serve to maintain the extensive and effective development of friendship and strategic partnership between Vietnam and Singapore, meeting the expectations and interests of the two peoples, for the sake of peace, stability and development in the region and the wider world.