(VOVWORLD) - Singapore Prime Minister Lee Hsien Loong and his wife are on an official visit to Vietnam at the invitation of Prime Minister Pham Minh Chinh. This is Prime Minister Lee’s fifth visit to Vietnam, reflecting the close attachment between Singapore and the Prime Minister himself with Vietnam.
 Prime Minister Pham Minh Chinh and Prime Minister Lee Hsien Loong (Photo: VOV) |
As soon as the Paris Agreement on restoring peace in Vietnam was signed in January, 1973, Singapore was among the first countries to establish diplomatic ties with the Democratic Republic of Vietnam, now the Socialist Republic of Vietnam, on August 1, 1973. More particularly, Singapore was among the first ASEAN countries with which Vietnam established a Strategic Partnership, in September 2013.
Important partners in various fields
The Vietnam-Singapore Strategic Partnership has been fostered by the two countries’ leaders and peoples. The visits by high-ranking leaders have strengthened mutual political trust and expanded and deepened bilateral cooperation in various fields. The two countries are each other’s leading partners in trade, investment, diplomacy, national security and defense. Notably, economics, trade and investments are among important pillars in bilateral ties.
With two-way trade tripling in the last 25 years, from 3 billion USD in 1997 to more than 9 billion USD last year, Singapore is Vietnam’s 4th largest trade partner in ASEAN.
In the past 3 years, Singapore has been Vietnam’s largest investor, participating in most economic sectors in the country. Since the first Vietnam-Singapore Industrial Park (VSIP) was established in Binh Duong province in 1996, there have been 14 VSIPs in 10 cities and provinces with 900 projects worth 17 billion USD, generating nearly 300,000 jobs.
Vu Viet Ngoan, Chairman of the Vietnam-Singapore Friendship Association, said: "Vietnam and Singapore have established an investment framework - the VSIP - which is a symbol of the economic relationship between the two countries. There have been 14 VSIPs and the number will continue to rise. This is a very effective and successful investment method."
Close bond between Vietnam and Singapore
This is the fifth time that Mr. Lee Hsien Loong has visited Vietnam as Prime Minister. His previous trips to Vietnam were in 2004, 2010, 2013, and 2017. This shows the close attachment between Singapore and Prime Minister Lee himself and Vietnam, the country that his father, the late Prime Minister Lee Kuan Yew, in his strategic vision, considered Singapore’s very special partner in ASEAN.
The ongoing three-day visit is part of a series of events to mark 59 years of diplomatic relations and 10 years of the strategic partnership between the two countries. It is expected to open up several avenues for bilateral cooperation, especially in tourism, green economy, and digital economy.
The visit will contribute to enhancing the strategic trust between the leaders of the two countries, while motivating the effective implementation of existing agreements and the signing of new ones in economic cooperation, digital transformation, digital economy, clean energy and renewable energy.
Singapore Ambassador to Vietnam Jaya Ratnam said: "This year is a very significant year for the Vietnam-Singapore relationship with the 50 years of our diplomatic relations and 10 years of our strategic partnership. So Prime Minister Lee Hsien Loong's visit to Vietnam takes place at a momentous time in our relationship to celebrate this very important occasion. We have decided to exchange visits of our Prime Ministers. Your Prime Minister visited Singapore this year. So this is an important occasion for the leaders to reflect on not just where we our relationship has come and what we expect for future but also what the leaders are looking for and setting for the relationship as we look forward to dealing with many common challenges like digital transformation or climate change where we can work with each other, support each other to find common solutions."
Prime Minister Lee Hsien Loong once said Singapore and Vietnam have the same strategic vision, have high political trust and have strong economic cooperation as well as many cooperative opportunities in new fields. His current visit to Vietnam will contribute to further realizing this statement and further promoting the Vietnam-Singapore strategic partnership.