Vietnam - Singapore in 2025 and the future: Partners for a new era

Vietnam and Singapore are strengthening trade and investment relations with new plans. On the occasion of Singapore's 60th National Day (August 9, 1965 - August 9, 2025), Singaporean Ambassador Jaya Ratnam wrote an article for Dau Tu Newspaper about the prospects for cooperation between the two countries.

Singapore Ambassador, Mr. Jaya Ratnam

Vietnam-Singapore relations are at a historic peak. Singapore Prime Minister Lawrence Wong and General Secretary of the Communist Party of Vietnam To Lam upgraded the bilateral relationship to a Comprehensive Strategic Partnership in March this year. This is Singapore’s first comprehensive strategic partnership with an ASEAN member state, reflecting the importance we attach to our relationship with Vietnam.

Singapore and Vietnam are facing a challenging international environment as they celebrate the 60th and 80th anniversaries of independence, respectively. The open, rules-based multilateral system that underpins peace and prosperity is under severe stress. Nationalism is on the rise, and conflict and violence are erupting globally. As open economies dependent on trade and investment, our two countries are greatly affected by these changes. At the same time, under the leadership of General Secretary To Lam, Vietnam is entering a “new era of development” with a focus on sustainable development, green growth and digital transformation – areas where the two countries have complementary strengths.

Looking to the future, the Vietnam-Singapore relationship is open and promising. This relationship will continue to grow strongly, bringing benefits to the people of both countries, while contributing to the stability, peace and prosperity of ASEAN.

We are therefore strengthening our bilateral cooperation in all areas as we jointly shape a “new era”. Our two countries share common views on many regional and multilateral issues and recognise the importance of working together to maintain peace and stability. Our bilateral relationship is firmly underpinned by strong political trust, reflected in the increasing pace of exchanges at all levels.

The new Comprehensive Strategic Partnership sets out a roadmap to deepen and expand cooperation, enabling the two countries to support each other more effectively in a rapidly changing and challenging global context. This relationship is in line with Vietnam’s orientation in digital transformation and green development to move up the value chain. The Comprehensive Strategic Partnership covers areas with new opportunities such as renewable energy, carbon credits, submarine cable connectivity and the digital economy, while addressing emerging challenges such as fraud and cybercrime. Both sides are committed to implementing this relationship quickly and effectively to respond to the complexities of an increasingly uncertain global environment.

The Vietnam-Singapore Industrial Parks (VSIPs) have been the cornerstone of bilateral cooperation for nearly three decades. From the outset, VSIPs have set the standard for industrial park development in Vietnam by providing international-standard infrastructure to investors, helping them to operate smoothly.

Vietnam - Singapore cooperation is growing. In the photo: Wind and solar power projects in Vietnam by Sembcorp Group (Singapore) (Photo: Le Toan)

Over the years, VSIPs have continued to grow strongly. There are currently 20 VSIPs located in 14 provinces and cities across the country, and many more will be developed in the near future. In total, VSIPs have attracted more than 23 billion USD in investment capital from more than 1,000 enterprises, creating jobs for about 320,000 people.

The growth of VSIPs reflects the upward trend of bilateral relations. Singapore continues to be the largest foreign investor in Vietnam. Bilateral trade increased by 10% last year and continues to grow rapidly. Singapore is now Vietnam’s eighth largest export market. As bilateral relations continue to expand, VSIPs are moving towards the goal of a comprehensive strategic relationship to develop into the next stage.

With the current 20 VSIPs, forming a useful industrial park network in Vietnam, can support each other and create a resonance effect. The VSIPs of the future will be smarter and greener, when General Secretary To Lam visited Singapore, we witnessed the signing of a Memorandum of Understanding on developing high-tech industrial parks, using more renewable energy.

The LEGO Group’s carbon-neutral factory in VSIP Ho Chi Minh City is leading the way, and more projects like it are on the horizon as companies globally strive to decarbonize their supply chains and attract investment in high-tech industries and advanced manufacturing.

Beyond VSIP, we are advancing the agenda of collaboration for sustainable growth and resilience. We are making progress on a joint venture between PetroVietnam Technical Services Corporation (PTSC) and Sembcorp Utilities to export low-carbon energy to Singapore, through renewable energy projects and submarine cable installations.

We are also finalizing an agreement to implement carbon credit cooperation under Article 6 of the Paris Agreement, to promote climate change mitigation activities and help both countries achieve their Nationally Determined Contributions (NDCs).

Through these mutually beneficial collaborations, Singapore and Vietnam can pave the way for larger initiatives such as the ASEAN Power Grid (APG), which aims to enhance energy self-reliance across the region. We are also promoting agricultural trade between our two countries, particularly poultry and rice, to contribute to food security.

People-to-people ties between the two countries continue to be a fundamental pillar in promoting bilateral relations. The flow of people between the two countries remains stable, for tourism, business and study purposes. Singapore is currently the 6th largest source of tourists to Vietnam.

We have new initiatives to enhance connectivity, such as the Innovation Talent Exchange Programme, which gives young Vietnamese professionals the opportunity to work in innovation-related fields in Singapore and vice versa.

Singapore continues to play an active role in supporting Vietnam’s human resource development, with training programmes increasingly adapted to Vietnam’s new priorities, such as digital transformation.

Vietnam is the most active participant in the Singapore Cooperation Programme, with over 22,000 officials having attended our courses, many of which are held in Hanoi, at the Vietnam-Singapore Cooperation Centre. We are planning to expand similar programmes in Ho Chi Minh City and Hai Phong.

Source: https://baodautu.vn/viet-nam---singapore-nam-2025-va-tuong-lai-doi-tac-cho-ky-nguyen-moi-d352734.html