Vietnam, Singapore upgrade ties to Comprehensive Strategic Partnership

By The Investor/Vietnam News Agency
Wed, March 12, 2025 | 3:06 pm GMT+7

Party chief To Lam and Prime Minister Lawrence Wong on Wednesday agreed to upgrade the Vietnam-Singapore relationship to a Comprehensive Strategic Partnership during their talks in the city state.

Singapore is now the 12th Comprehensive Strategic Partner of Vietnam. The others are China, Russia, India, South Korea, the United States, Japan, Australia, France, Malaysia, New Zealand, and Indonesia.

This is the first Comprehensive Strategic Partnership that Singapore has established with an ASEAN country.

Vietnam's Party General Secretary To Lam (left) and Singaporean Prime Minister Lawrence Wong hold a private meeting in Singapore, March 12, 2024. Photo courtesy of Vietnam News Agency.

Vietnam's Party General Secretary To Lam (left) and Singaporean Prime Minister Lawrence Wong hold a private meeting in Singapore, March 12, 2024. Photo courtesy of Vietnam News Agency.

PM Wong warmly welcomed General Secretary To Lam and his spouse, along with a high-ranking delegation of the Vietnamese Party and State, on their official visit to Singapore. He affirmed that the visit is an important milestone in the bilateral relationship.

The Singaporean PM asserted that the two countries have close political, economic and people-to-people relations, and share many common and strategic interests on regional and international issues.

To Lam expressed his pleasure at visiting Singapore again in his new position, which coincided with many important events between the two countries, including the 80th anniversary of Vietnam's National Day and the 60th anniversary of Singapore's National Day.

He thanked the Government and people of Singapore and PM Wong personally, for their warm welcome and close affection for the General Secretary, his spouse and the high-ranking delegation of Vietnam.

The Vietnamese leader emphasized that the visit contributed significantly to strengthening the friendly relations and mutual understanding, opening up great opportunities for cooperation, deepening and raising the bilateral cooperation to a new level, for the benefit of the two countries' peoples and for peace, stability and development in the region and the world.

Affirming that Vietnam always attaches importance to and wants to promote the friendship and multifaceted cooperation with Singapore, the Party chief shared Vietnam's achievements in the renewal process.

He emphasized Vietnam’s efforts to promote economic restructuring associated with growth model innovation, digital transformation and sustainable development; streamline the administrative apparatus; and reform administrative procedures towards a state system that operates effectively, efficiently and effectively.

The two leaders reviewed the outstanding achievements in cooperation between the two countries, especially in economy, trade and investment, with bilateral trade turnover reaching over $9 billion in 2024.

Singapore is currently the second largest investment partner in Vietnam with a total accumulated investment capital of over $80 billion, of which the Vietnam-Singapore Industrial Parks (VSIPs) are considered symbols of successful cooperation.

The two sides also acknowledged positive progress in the fields of defence-security cooperation, education-training, science-technology, tourism, labour and people-to-people exchanges.

Building on the great achievements over the past five decades since the establishment of diplomatic relations in 1973, the two leaders agreed to upgrade the bilateral relationship to a Comprehensive Strategic Partnership. This is a historic milestone in the bilateral relationship, opening a new chapter with a more comprehensive and long-term vision.

PM Wong noted that this is the first Comprehensive Strategic Partnership that Singapore has established with an ASEAN country.

The two sides agreed to set out major directions and assign relevant agencies, ministries and sectors to develop an action program to implement the Comprehensive Strategic Partnership and develop the relationship substantially and effectively.

The focus is on enhancing political trust through delegation exchanges at all levels, especially high-level ones; expanding and deepening economic, trade and investment cooperation; promoting cooperation in digital transformation, innovation, green economy, clean energy; strengthening cooperation in the fields of defence-security, culture, education, tourism and people-to-people exchanges.

The Vietnamese leader suggested Singapore expand the VSIP 2.0 network towards innovation and low carbon emissions, and enhance cooperation in the fields of digital transformation and emerging technologies.

PM Wong expressed his wish to promote cooperation with Vietnam in developing seaports and maritime infrastructure through digital transformation. He affirmed that Singapore would continue to support Vietnam in improving the quality of human resources, especially strategic-level officials, and effectively implement the MoU on the Vietnam-Singapore Innovation Talent Exchange Program.

Singapore wants to send Singaporean students to Vietnam to study and research, promote cultural and sports exchanges, and exchanges between young generations to enhance understanding and friendship between the two nations’ peoples, he added.

Regarding regional issues, the two leaders agreed to strengthen ASEAN solidarity and pay due attention to the sustainable development of sub-regions, including the Mekong Sub-region, thereby actively contributing to ASEAN's self-reliance, prosperity and sustainable development as well as promoting its central role in the region.

The two leaders also affirmed their determination to build the East Sea (internationally known as the South China Sea) into a sea of peace, cooperation and development, and together with ASEAN countries to promote negotiations on a practical, effective Code of Conduct in the East Sea (COC) in accordance with international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Party General Secretary To Lam and Singaporean Prime Minister Lawrence Wong witness the handover of the Joint Report on Offshore Wind Power Trade Cooperation between Vietnam and Singapore. Photo courtesy of Vietnam News Agency.

Party General Secretary To Lam and Singaporean Prime Minister Lawrence Wong witness the handover of the Joint Report on Offshore Wind Power Trade Cooperation between Vietnam and Singapore. Photo courtesy of Vietnam News Agency.

At the end of the talks, the two leaders witnessed the signing of cooperation documents in the fields of wind power trade, digital transformation, prevention and combat of transnational crimes, financial innovation, creating an important foundation to promote the Vietnam-Singapore Comprehensive Strategic Partnership in the coming time.

Comments ( 0)
  • Read More
Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing

Masan High-Tech Materials partners with S Korea’s GBI on tungsten processing

Masan High-Tech Materials (UPCoM: MSR), the mining unit of Vietnamese conglomerate Masan Group (HoSE: MSN), has entered into a strategic partnership with South Korea’s GB Innovation (GBI) to process Korean tungsten concentrate into higher-value products in Vietnam, strengthening a non-Chinese tungsten supply chain.

Companies - Thu, July 9, 2026 | 3:51 pm GMT+7

Idemitsu Kosan expands energy ecosystem in Vietnam

Idemitsu Kosan expands energy ecosystem in Vietnam

After more than three decades of operations in Vietnam, Japan’s Idemitsu Kosan is further expanding its energy ecosystem with a biomass pellet plant project in the central province of Gia Lai.

Industries - Thu, July 9, 2026 | 1:43 pm GMT+7

Two banks to list on Ho Chi Minh City bourse, expand charter capital

Two banks to list on Ho Chi Minh City bourse, expand charter capital

Vietnam's private banks Vietbank and BVBank are finalizing the last steps to transfer their trading from the unlisted public company market UPCoM to the Ho Chi Minh Stock Exchange (HoSE), while simultaneously implementing plans to increase their charter capital.

Banking - Thu, July 9, 2026 | 11:51 am GMT+7

Strong Q2 earnings, lower interest rates to bolster Vietnam stocks

Strong Q2 earnings, lower interest rates to bolster Vietnam stocks

Strong second-quarter corporate earnings and declining interest rates are expected to support Vietnam's stock market in the coming months, brokerage firms said, as the market moves beyond a period of limited news flow and enters a more favorable phase driven by improving fundamentals.

Finance - Thu, July 9, 2026 | 8:00 am GMT+7

Wistron raises construction, equipment investment in northern Vietnam province to $178 mln

Wistron raises construction, equipment investment in northern Vietnam province to $178 mln

Taiwanese technology firm Wistron has increased its investment in factory construction and equipment in Ninh Binh province to $178.27 million, adding $24.5 million to expand its facilities at Kim Bang Industrial Park.

Industries - Wed, July 8, 2026 | 7:56 pm GMT+7

Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year

Sun Group targets groundbreaking for $624 mln urban projects in central Vietnam this year

Vietnam's leading developer Sun Group aims to begin construction of two urban projects worth a combined VND16.4 trillion ($623.78 million) in the central province of Quang Ngai by the end of 2026, while also advancing plans for a new expressway linking the province with the Central Highlands.

Real Estate - Wed, July 8, 2026 | 4:54 pm GMT+7

Vietnam raises airport number target to 36 by 2030 as aviation demand surges

Vietnam raises airport number target to 36 by 2030 as aviation demand surges

Vietnam plans to expand its airport network to 36 airports by 2030, up from the previous target of 30, under a revised national aviation infrastructure plan aimed at catering for rising passenger demand and boosting regional connectivity.

Infrastructure - Wed, July 8, 2026 | 4:45 pm GMT+7

Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam

Germany's VFT Bio Fuels UG eyes $3.1 bln green steel complex in southern Vietnam

Vietnamese industrial park developer IMG Phuoc Dong and Germany’s VFT Bio Fuels UG have signed a memorandum of understanding to study the development of a $3.1 billion green steel complex in the southern province of Tay Ninh.

Industries - Wed, July 8, 2026 | 4:25 pm GMT+7

Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport

Vietnam police minister urges Yamato Holdings to study investment in Gia Binh airport

Vietnam’s Minister of Public Security Luong Tam Quang has called on Japan’s Yamato Holdings to assess investment opportunities in warehousing and cargo transport systems at Gia Binh International Airport, while exploring potential cooperation and operational models with Vietnamese partners once the facility becomes operational.

Infrastructure - Wed, July 8, 2026 | 3:09 pm GMT+7

Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve

Vietnam real estate M&A favors quality, clear legal status assets as FDI priorities evolve

Vietnam's real estate M&A market continued to attract foreign capital in the first half of 2026 despite persistent global economic uncertainties, but foreign investors are increasingly targeting assets with clear legal status, stable cash flow, and strong operational performance, with data centers emerging as a key growth segment.

Real Estate - Wed, July 8, 2026 | 1:38 pm GMT+7

Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital

Central Vietnam hub Danang plans to tokenize nearly $4 bln in infrastructure projects to attract global capital

The Vietnam International Financial Center, located in the central city of Danang (VIFC Danang), plans to tokenize nearly $4 billion worth of infrastructure projects as part of a strategy to attract more global capital.

Economy - Wed, July 8, 2026 | 12:17 pm GMT+7

Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms

Computers, smartphones edge higher in price as AI memory boom tests Vietnam's ICT firms

Rising memory chip prices driven by artificial intelligence are spreading from semiconductor manufacturers to consumer electronics brands such as Apple, Dell and ASUS, pushing up the prices of computers and smartphones.

Companies - Wed, July 8, 2026 | 8:00 am GMT+7

LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam

LG Innotek to build $1 bln semiconductor substrate plant in northern Vietnam

South Korea's LG Innotek will spend $1 billion to build a semiconductor package substrate manufacturing plant in Hai Phong city, with mass production scheduled to begin in the third quarter of 2028, according to local authorities.

Industries - Tue, July 7, 2026 | 11:13 pm GMT+7

Malaysia’s JLand eyes up to $6 bln high-tech hub in Hanoi

Malaysia’s JLand eyes up to $6 bln high-tech hub in Hanoi

Malaysia’s JLand Group has proposed developing a high-tech, innovation and data center complex in Hanoi with an estimated investment of $4-6 billion, as Vietnam’s capital seeks to attract technology projects and strengthen its digital infrastructure.

Infrastructure - Tue, July 7, 2026 | 4:26 pm GMT+7

PVOIL approves $600 mln crude supply plan for Nghi Son refinery

PVOIL approves $600 mln crude supply plan for Nghi Son refinery

PVOIL, a subsidiary of state-owned Petrovietnam, has approved transactions worth an estimated $600 million to supply crude oil to the Nghi Son Refinery and Petrochemical complex during the second half of 2026, as the country’s largest refinery broadens its feedstock sources beyond its traditional Kuwaiti supply.

Companies - Tue, July 7, 2026 | 1:33 pm GMT+7

F88 wins two international awards for customer-centric growth strategy

F88 wins two international awards for customer-centric growth strategy

F88, a major Vietnamese financial services company, has received two international awards from the Asian Banking & Finance (ABF), a Singapore-based publication, recognizing its initiatives in customer experience and service innovation.

Companies - Tue, July 7, 2026 | 12:42 pm GMT+7