Welcoming the Vietnamese delegation at the airport included Singaporean Minister for Manpower and Second Minister for Trade and Industry Tan See Leng, Singaporean Ambassador to Vietnam Jaya Ratnam, Vietnamese Ambassador to Singapore Mai Phuoc Dung, officials from the Vietnamese Embassy and a number of overseas Vietnamese in the country.
The visit is taking place at a time when the Vietnam-Singapore strategic partnership is developing strongly and dynamically across all fields. This year, the two countries are celebrating the 50th founding anniversary of diplomatic relations and 10 years of their strategic partnership.
The two nations have regularly and effectively maintained high and all-level delegation exchanges and meetings, along with expanding defence and security cooperation. Collaboration in other areas such as education, culture, and tourism has also been bolstered through specific agreements and memoranda of understanding.
Singapore is now Vietnam’s top important economic partner in the region, with two-way trade nearing 9 billion USD last year, up 10.1% year-on year. The island state leads ASEAN and ranks second among 141 countries and territories investing in Vietnam with 3,032 valid projects worth 70.39 billion USD.
At present, 12 Vietnam-Singapore Industrial Parks (VSIP) in nine Vietnamese cities and provinces have an occupancy rate of around 83.2%, attracting 17.6 billion USD for some 900 projects and generating roughly 300,000 jobs.
Vietnam and Singapore have worked closely together on regional and international matters of shared concern, including the East Sea issue, while strengthening cooperation at multilateral organisations and forums such as the United Nations (UN), the Association of Southeast Asian Nations (ASEAN) and the Asia-Pacific Economic Cooperation (APEC) forum. Together they have also worked within bilateral and multilateral free trade agreements in which both sides are joining, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).
In recent high-level visits, leaders of the two nations agreed on a number of major cooperation directions, especially in new areas such as the digital economy, digital transformation, regional and global supply chain connections, the building of the green economy, sustainable development, and cooperation in the production chain.
PM Chinh’s visit to Singapore aims to lift Vietnam-Singapore economic connectivity to a new height in the context that a series of new-generation free trade deals joined by the two nations have taken effect, including the CPTPP and RCEP.
As scheduled, during his stay, PM Chinh will hold talks with his Singaporean counterpart Lee Hsien Loong, and have meetings with Singaporean President Halimah Yacob, and Speaker of the Singaporean Parliament Tan Chuan-Jin.
He will also meet with representatives of the Vietnamese community inn Singapore, and leading businesses of Singapore, and attend a Vietnam-Singapore Business Forum to promote bilateral trade and investment cooperation.