Singapore-Vietnam ties to expand into emerging areas: Vivian

Singapore-Vietnam ties have grown from strength to strength since the two countries first established diplomatic relations in 1973, said Foreign Minister Vivian Balakrishnan.

This is mainly due to the high level of trust at the political level, longstanding win-win partnerships, and strong people-to-people ties, he said ahead of a state visit by Vietnamese President Nguyen Xuan Phuc to Singapore from today till Saturday.

This will be the first state visit that Singapore is hosting since the onset of the Covid-19 pandemic.

In an interview with the Vietnam News Agency published yesterday, Dr Balakrishnan said that as Asean member states, Singapore and Vietnam are firmly committed to regional peace and stability as well as Asean centrality.

"In this regard, Singapore appreciates the constructive role that Vietnam has played since joining Asean in 1995. This was evident during Vietnam's Asean chairmanship in 2020, which established important mechanisms to help our region cope with the Covid-19 crisis collectively," he said.

Both countries are also firm supporters of a rules-based international order and international law, and of free trade.

Dr Balakrishnan also highlighted the economic links and longstanding cooperation in human resource development between both countries, which will mark 50 years of diplomatic relations next year.

Singapore is one of Vietnam's largest trading partners, and has been the leading source of foreign direct investment into Vietnam for two years running.

With cumulative investment of US$62.6 billion (S$84.2 billion) in over 2,600 projects in 45 out of 63 provinces in Vietnam, Singapore is also the top Asean investor in Vietnam, and third overall, after Japan and South Korea.

Dr Balakrishnan said leaders from both countries have built a high level of political trust and understanding over generations.

Both countries supported each other with critical medical supplies and equipment during the pandemic, and are looking into resuming safe travel, noted Dr Balakrishnan, who in June last year was the first Singapore minister to visit Vietnam since the Covid-19 pandemic began.

He said Singapore looks forward to keeping the partnership forward-looking by expanding into emerging areas.

This includes accelerating cooperation in the digital economy in areas such as cyber security, smart cities and digital payments.

Singapore is also keen to work with Vietnam in sustainable development as Vietnam increases investments in sustainable infrastructure and renewable energy, with the goal of achieving net zero carbon emissions by 2050.

People of both countries have also forged lasting links through educational exchanges and tourism, the minister noted.

Singapore hosts many Vietnamese students, while its educational institutions are also keen to have study visits and exchange programmes with their Vietnamese counterparts.

President Phuc will call on President Halimah Yacob at the Istana tomorrow, and attend a state banquet in his honour in the evening.

He and Prime Minister Lee Hsien Loong will witness the signing of bilateral agreements to further strengthen cooperation between Singapore and Vietnam that day.

He will also deliver the keynote address at the Singapore-Vietnam Business Dialogue.