The meeting took place against the backdrop of increasingly positive Viet Nam–Singapore relations, particularly following the official visit to Singapore by Party General Secretary and State President To Lam in March 2025, which further strengthened political trust and created fresh momentum for bilateral cooperation across a wide range of sectors.
Speaking at the meeting, Minister Ngo Van Tuan noted that Singapore is currently one of Viet Nam’s leading trade and investment partners and holds a particularly important position among Viet Nam’s partners within ASEAN. Economic cooperation between the two countries continues to develop dynamically, substantively, and effectively, highlighted by the Viet Nam–Singapore Industrial Park (VSIP) model and collaboration in finance, digital transformation, the green economy, and innovation.
Viet Nam is keen to learn from Singapore’s experience in developing financial centres, high-tech industries, logistics, innovation, and human resource development. At the same time, it hopes that Singaporean businesses will continue expanding investment in strategic sectors in Viet Nam, including next-generation industrial parks, artificial intelligence, semiconductors, clean energy, the digital economy, and logistics infrastructure.
Both countries are prioritising the transformation of their growth models towards a digital economy, a green economy, and sustainable development. This provides a favourable foundation for expanding cooperation in areas where Singapore has recognised strengths, such as semiconductors, artificial intelligence, smart logistics, clean energy, carbon credits, and the development of regional financial centres.
One of the key topics discussed was the development of new VSIP projects, particularly VSIP Hai Phong II and VSIP Binh Duong IV. The two sides agreed to continue coordinating efforts to complete the necessary procedures, including the issuance of investment registration certificates (IRCs) for these projects. This issue carries particular significance within the broader framework of Viet Nam–Singapore economic cooperation, as VSIPs continue to be regarded as a highly effective and symbolic investment cooperation model between the two countries.
Minister Ngo Van Tuan stated that Viet Nam acknowledges Singapore’s strong interest and highly values the role of VSIPs in promoting bilateral investment cooperation, developing modern industrial parks, attracting high-quality investors, and contributing to socio-economic development in localities across the country.
During the talks, the two sides also devoted considerable time to discussing future cooperation in developing metro and urban railway systems (Metro/MRT) in Viet Nam. The Singaporean side noted that it had proposed to the Ha Noi Metropolitan Railway Management Board that Singapore could support Viet Nam in establishing core technical standards and standardising operating procedures for future metro lines, thereby enhancing system integration and optimising costs.
Regarding cooperation on the development of international financial centres, Minister Tan See Leng said that Vietnamese start-ups could draw upon Singapore’s ecosystem model to build and strengthen their own businesses. By leveraging the existing connections within Singapore’s ecosystem, Vietnamese enterprises would be better positioned to attract greater participation from international investors, thereby improving their access to capital and enhancing market liquidity.
Concluding the meeting, Minister Ngo Van Tuan affirmed that Viet Nam’s Ministry of Finance would continue working closely with Singapore’s Ministry of Trade and Industry to advance specific areas of cooperation, contributing to the further deepening of the Viet Nam–Singapore Comprehensive Strategic Partnership.
He emphasised that, amid ongoing uncertainties in the global economy, strengthening connectivity between the two countries’ financial and capital markets would not only provide fresh momentum for national economic development but also contribute positively to the goal of building an increasingly integrated, dynamic and sustainable ASEAN financial market.
