Singapore Prime Minister Lawrence Wong and his wife visit Vietnam from March 25-26

According to a statement from the Ministry of Foreign Affairs , at the invitation of the Prime Minister of the Socialist Republic of Vietnam, Pham Minh Chinh, and his wife, the Prime Minister of the Republic of Singapore, Lawrence Wong, and his wife will pay an official visit to Vietnam from March 25-26, 2025.

The visit takes place against the backdrop of Vietnam and Singapore having recently upgraded their relationship to a Comprehensive Strategic Partnership during General Secretary To Lam 's official visit to Singapore from March 11 to 13, at the invitation of Singapore's Prime Minister and Secretary-General of the People's Action Party (PAP), Lawrence Wong.

Prime Minister Lawrence Wong stated at the time that this was the first comprehensive strategic partnership that Singapore had established with an ASEAN country.

Singapore Prime Minister Lawrence Wong. (Photo: Government Newspaper)

According to the joint statement on upgrading relations between Vietnam and Singapore, both sides committed to continuing to consolidate and strengthen mutually beneficial cooperation, political trust, and coordination in addressing current common challenges on the basis of respect for international law, independence, sovereignty, territorial integrity, and the political institutions of each country, without interfering in each other's internal affairs. This will bring practical benefits to the people of both countries as well as contribute to a united, self-reliant ASEAN with a central and inclusive role, striving for peace, stability, and development in the region and the world.

Both sides agreed to upgrade their relationship, focusing on strengthening cooperation for world peace, security, and stability; consolidating economic cooperation and promoting mutually beneficial areas of cooperation; enhancing energy cooperation and green growth; building capacity and connecting people; strengthening cooperation in the digital and emerging technologies sectors; and enhancing cooperation in the digital and emerging technologies sectors.

Since 1996, Singapore has consistently been one of Vietnam's largest trading partners. Bilateral trade turnover has increased year by year, reaching US$8.3 billion in 2021; over US$9.16 billion in 2022; US$9 billion in 2023; and US$8.64 billion in the first 10 months of 2024.

In terms of investment, as of October 2024, Singapore maintained its leading position in ASEAN, ranking second out of 148 countries and territories investing in Vietnam (after South Korea), with 3,838 active projects and a total registered capital of US$81.1 billion. Singaporean investment projects are concentrated in the following sectors: processing and manufacturing industries; real estate business; production and distribution of electricity, gas, water, and air conditioning.

The Vietnam-Singapore Industrial Parks (VSIPs) are a symbol of economic cooperation between the two countries. From the first VSIP launched in Binh Duong in 1996, Vietnam has become the country with the most industrial parks built by Singapore worldwide, with 18 VSIPs in 10 provinces and cities, attracting over US$18 billion in investment and approximately 900 projects, creating jobs for more than 300,000 workers.

Source: https://thoidai.com.vn/thu-tuong-singapore-lawrence-wong-va-phu-nhan-tham-viet-nam-tu-ngay-25-263-211620.html