Strengthening Bilateral Ties: Vietnam and Singapore Forge New Pathways for Cooperation
At the 19th Vietnam–Singapore Connectivity Ministerial Meeting held on October 10 at the Ministry of Finance (MoF) headquarters in Hanoi, key discussions were held to reinforce collaboration between the two nations. The meeting was co-chaired by Vietnam’s Minister of Finance, Nguyen Van Thang, and Singapore’s Minister for Manpower and Minister-in-charge of Energy and Science and Technology, Tan See Leng. The event aimed to deepen cooperation in critical areas such as trade, finance, innovation, and green development.
The conference brought together representatives from various ministries, diplomatic agencies, businesses, and economic organizations from both countries. Additionally, Jaya Ratnam, Singapore’s Ambassador to Vietnam, was present to support the dialogue and facilitate further engagement between the two nations.
A Milestone in Bilateral Relations
In his opening remarks, Minister Thang highlighted the significance of the meeting, which follows the recent upgrade of bilateral ties to a comprehensive strategic partnership during Party General Secretary To Lam’s visit to Singapore in March 2025. He described this as a breakthrough development that reflects deep political trust and paves the way for more substantial cooperation between the two countries.
Thang emphasized that the Vietnam-Singapore Connectivity Ministerial Meeting is a crucial mechanism for implementing the framework of the comprehensive strategic partnership. It serves as a high-level platform to promote collaboration across various sectors, including trade, investment, energy, digital transformation, green development, and human resource training. This dialogue also aims to strengthen strategic connectivity amid a volatile regional and global landscape.
Economic Growth and Investment Trends
Vietnam’s economy has shown strong growth despite global challenges. In the first nine months of 2025, GDP growth reached 7.84 per cent, with the third quarter alone growing by approximately 8.22 per cent. The total import-export turnover exceeded $680 billion, marking a 17.3 per cent increase year-on-year, with an estimated trade surplus of $16.82 billion.
Institutional reforms and territorial restructuring are being actively implemented to create new growth drivers, aiming for a growth rate above 10 per cent in the coming years. According to the finance minister, registered foreign investment in the first nine months exceeded $28.5 billion, up 8.5 per cent year-on-year. Singapore is currently the second-largest foreign investor in Vietnam, with 4,226 active projects and a total registered capital of $87.6 billion. Conversely, Vietnam has 190 ventures in Singapore with a total capital of $685 million, reflecting a deepening trend of two-way cooperation.
Key Areas of Collaboration
Both sides identified priority areas for collaboration, including investment, agricultural trade and sustainable development, tourism, infrastructure, IT, education and human resource training, innovation, digital transformation, and finance. These areas will be central to shaping future cooperation between Vietnam and Singapore.
During the meeting, Minister Leng extended heartfelt sympathy and solidarity to the Vietnamese government and people over the damage caused by three consecutive storms. He expressed hope that Vietnam will recover and emerge stronger than ever.
Leng noted that 2025 is a significant year for Vietnam, as it celebrates 80 years of independence and 50 years since full reunification. He praised the remarkable progress in Vietnam-Singapore cooperation, especially the elevation of bilateral relations to a higher level. Singapore is currently one of the largest investors in Vietnam, with total investment capital of approximately $12.4 billion, reflecting strong confidence in Vietnam’s investment environment and growth prospects.
Future Initiatives and Commitment
Tan also stressed the importance of the Vietnam-Singapore Ministerial Conference, a cooperation mechanism sustained for 18 years, which has promoted collaboration across five main pillars and 11 priority areas. Following the upgrade of the cooperation framework in 2023, Singapore established a dedicated unit to support Singaporean businesses investing in Vietnam. This unit helps firms identify cooperation opportunities and expand their operations more effectively.
Both countries are promoting joint initiatives in talent exchange, research, and innovation, particularly in green energy, digital transformation, and high-tech sectors. Leng expressed hope that agencies from both sides will jointly propose more initiatives and concretise them to bring real value to businesses and citizens of both countries.
A Platform for Sustainable Development
The Vietnam-Singapore Connectivity Ministerial Meeting is not only an opportunity to strengthen political trust and economic cooperation but also a platform for shaping new directions in investment collaboration, green transformation, and innovation. It aligns with both countries’ sustainable development goals and deepens global integration in the next phase of their partnership.