Singaporean Prime Minister embarks on fifth official visit to Viet Nam

After landing at Noi Bai International Airport, Prime Minister Lee was welcomed by Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung, Deputy Minister of Foreign Affairs Do Hung Viet, Vietnamese Ambassador to Singapore Mai Phuoc Dung and Singaporean Ambassador to Viet Nam Jaya Ratnam.

Lee is accompanied by his wife Ho Ching, Minister of Foreign Affairs Vivian Balakrishnan, Minister for Education Chan Chun Sing, and  others.

The official visit is part of activities in celebration of the 50th founding anniversary of bilateral diplomatic ties and 10 years of the strategic partnership between the two countries. On this occasion, Lee is expected to attend many important activities and events.

The visit offers an occasion for leaders of the two countries to set forth a future agenda for the bilateral relationship, as both look towards dealing with many common challenges, said Singaporean Ambassador to Viet Nam Jaya Ratnam.

The visit is taking place at a "very momentous time” as Singapore and Viet Nam are celebrating the 50th anniversary of their bilateral diplomat ties and 10 years of their strategic partnership.

The focus of the Singaporean PM’s visit will be the green and digital economic partnership launched by the two PMs in February, he said, noting that this is the way both countries would work together and support each other in dealing with common challenges.

The diplomat held that Singapore and Viet Nam can work together not just to develop renewable energy in Viet Nam but also to connect this to the larger ASEAN region through the ASEAN power grid.

Ratnam also spoke of sustainability as the third field in the partnership, also a key area the two countries need to work together, especially carbon credits.

Viet Nam and Singapore established diplomatic relations in 1973 and elevated the relationship to strategic partnership in 2013.

Singapore is Viet Nam’s leading economic partner in the region while Viet Nam is Singapore's 12th largest trade partner.

Singapore ranks first in ASEAN and second globally when it comes to investments in Viet Nam, with 3,273 projects capitalized at US$73.4 billion.

The two-way trade reached US$9.15 billion in 2022, an 11.57 percent increase from 2021.

Viet Nam-Singapore industrial parks (VSIPs) have become a symbol of economic cooperation between the two countries, with 14 such parks in ten Vietnamese localities, garnering US$18.7 billion in investments for 866 projects, creating 300,000 jobs, and covering a total area of around 11,000 hectares./.