During a phone call this afternoon with Singaporean Prime Minister Lawrence Wong, Prime Minister Pham Minh Chinh outlined several cooperation proposals. He emphasized expanding and upgrading the Vietnam - Singapore Industrial Park (VSIP) network to a second generation model. These new VSIPs would integrate services, high technology, and ecological urban areas, moving beyond traditional industrial parks. The goal is to establish 30 VSIPs by 2026, marking 30 years since this successful model was introduced in Vietnam, according to the Ministry of Foreign Affairs.

Prime Minister Chinh also informed the Singaporean leader about Vietnam's decision to establish international financial centers in Ho Chi Minh City (TP HCM) and Da Nang. He proposed that the two countries enhance cooperation in developing these centers, fostering substantive and mutually beneficial collaboration. This would involve leveraging each other's strengths, creating linkages, and complementing efforts to attract resources and drive overall development in the ASEAN region.

He also requested Singapore's support in sharing experience and providing consultation to the Vietnamese government. The two countries should strengthen cooperation in developing financial and banking infrastructure, particularly digital infrastructure, payment systems, cross-border payments, digital identity, and cybersecurity. This includes fostering connectivity within the financial ecosystem and encouraging Singaporean banks, investment funds, and financial technology enterprises to expand their long-term investments and operations in Vietnam.

The prime minister noted the positive growth in bilateral trade, with a 12% increase in 2025 compared to 2024. He called on Singapore to further increase imports of agricultural products and effectively implement the memorandum of understanding on rice trade cooperation to ensure food security.

Prime Minister Pham Minh Chinh held a phone call with Prime Minister Lawrence Wong on 10/2. Photo: VGP

Acknowledging the two countries' active cooperation in clean energy, Prime Minister Chinh urged both sides to promptly conduct surveys for Vietnam's offshore wind power project, aimed at exporting electricity to Singapore. He proposed incorporating this project into an inter-governmental cooperation program to establish a legal framework, contributing to the realization of the ASEAN Power Grid (APG). Additionally, both leaders agreed to intensify cooperation in carbon credit exchange, further deepening the Vietnam - Singapore Green - Digital Economy Partnership.

The prime minister also proposed that the two countries enhance defense and security cooperation, particularly in preventing transnational crimes such as drug trafficking, fraud, financial crime, and cybercrime. He requested Singapore continue supporting Vietnam in human resource development, especially for strategic-level leaders, and increase scholarships at all levels for Vietnamese students. Furthermore, he called for strengthening people-to-people exchanges and exploring additional direct flights from Singapore to major Vietnamese cities to boost tourism.

According to Prime Minister Pham Minh Chinh, it is essential to continue strengthening cooperation, consolidating ASEAN's solidarity and central role, particularly in addressing regional issues.

Prime Minister Lawrence Wong emphasized Singapore's confidence in Vietnam's robust growth potential and affirmed his country's commitment to expanding investments in Vietnam, including increasing the number of Vietnam - Singapore Industrial Parks. He also highlighted several other areas where the two countries should continue to foster cooperation.

According to the Singaporean prime minister, the development of international financial centers requires not only infrastructure but also comprehensive institutional and legal frameworks. He affirmed Singapore's role as a trusted partner, supporting Vietnam in effectively developing its international financial centers. He also noted that beyond trade, the two countries are expanding cooperation into other important areas, including defense and security.

Prime Minister Wong affirmed continued support for Vietnam's human resource development, encouraging Singaporean universities to increase scholarships and further promoting people-to-people exchanges between the two nations. He strongly agreed on the need to coordinate efforts to strengthen ASEAN's solidarity and central role, aiming to build a more robust and cohesive ASEAN and advance regional connectivity initiatives.

Both sides reaffirmed their commitment to close and effective coordination in 2027, when Vietnam will host APEC Year and Singapore will assume the ASEAN Chairmanship.

Prime Minister Wong affirmed that Singapore will continue to work towards making the Vietnam - Singapore Comprehensive Strategic Partnership increasingly substantive and effective.

Huyen Le