Singapore and Vietnam Strengthen Economic and Strategic Ties During PM Visit

26 Mar, 2025

Singaporean Prime Minister Lawrence Wong will make his first official visit to Vietnam from March 25 to 26, following an invitation from Prime Minister Pham Minh Chinh. This visit comes shortly after General Secretary To Lam’s historic trip to Singapore, during which both nations elevated their ties to a Comprehensive Strategic Partnership—the first of its kind between Singapore and an ASEAN country.

Vietnam-Singapore relations have flourished over the past 50 years, marked by deep political trust and robust economic collaboration. Singapore is one of Vietnam’s largest investors, ranking second globally in investment capital. A key symbol of this partnership is the Vietnam-Singapore Industrial Parks (VSIP), which now span 18 locations across 13 provinces, attracting $18.7 billion in investment and generating over 300,000 jobs. Meanwhile, Vietnam has invested in 153 projects in Singapore, with total registered capital exceeding $690 million. In 2024, bilateral trade is expected to reach $10.3 billion, reflecting strong and sustained economic ties.

Beyond trade and investment, the Green Economy - Digital Economy Partnership is unlocking new opportunities in sustainable development, digital transformation, and technology exchange. Security cooperation is also strengthening, with both countries working closely on cybersecurity and transnational crime prevention.

Vietnam and Singapore share aligned perspectives on regional and global issues, advocating for an international order based on law and global standards. As both nations continue to deepen their strategic and economic ties, Prime Minister Wong’s visit represents a significant step toward fostering long-term growth and cooperation in Southeast Asia.

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