THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Prime Minister extends congratulations to Singapore’s new PM
VGP - Prime Minister Pham Minh Chinh sent a message of congratulations to Mr. Lawrence Wong upon his election as new Prime Minister of Singapore.
Lawrence Wong takes his oath of office as Singapore's fourth Prime Minister
Lawrence Wong on May 15 evening took his oath of office as Singapore's fourth Prime Minister at the Istana, the country's presidential palace, in the presence of guests from all walks of life in Singapore.
Viet Nam and Singapore officially established diplomatic relations in 1973 and elevated ties to a Strategic Partnership in 2013.
Both nations stand at a high point in the bilateral cooperation. In 2023, Singapore was Viet Nam's largest source of foreign direct investment with over US$6.8 billion invested or almost 19 per cent of the year's total foreign investment inflows.
Cumulatively, over the years, Singaporean businesses have invested US$74.51 billion in Viet Nam, becoming the second largest foreign investor in the country.
In the first quarter, the two-way trade surpassed SGD7.71 billion, up 4.21 percent from the same period last year.
Viet Nam recorded over SGD1.83 billion in exports to and nearly SGD5.89 billion in imports from Singapore, respectively up 15.22 percent and 1.2 percent. With this result, Viet Nam remains the 10th largest trading partner of Singapore./.