Vietnam and Singapore aim for green economic agreements

Tuesday, 07/02/2023 15:45
The Prime Ministers of Singapore and Vietnam will witness the signing ceremony of bilateral agreements to further strengthen bilateral cooperation, especially in the field of green economy and digital economy.
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Prime Minister Pham Minh Chinh and Singapore Prime Minister Lee Hsien Loong (Photo: VNA)

On February 7, the Straits Times reported that Vietnamese Prime Minister Pham Minh Chinh will pay a three-day official visit to Singapore starting from February 8, as the two sides work towards further cooperation in green and digital economies.

Singapore's Ministry of Foreign Affairs on the same day said the visit comes as the two countries celebrate the 50th anniversary of diplomatic relations this year.

The visit also marks the 10th anniversary of the two countries upgrading their relationship to a strategic partnership, signed in 2013, helping to open up new areas of cooperation.

This is Prime Minister Pham Minh Chinh's first official visit to Singapore since he took office in 2021.

The Prime Minister will receive a solemn reception at Istana Presidential Palace on February 9, meet with President Halimah Yacob and hold talks with Prime Minister Lee Hsien Loong, who will host a luncheon reception.

Prime Minister Pham Minh Chinh and his wife will be honored with the naming of a new species of orchid in Singapore.

Singaporean Ministry of Foreign Affairs said that the two Prime Ministers will witness the signing ceremony of bilateral agreements to further strengthen multifaceted cooperation between Singapore and Vietnam, especially in the field of green economy and digital economy.

During the visit, Prime Minister Pham Minh Chinh will also visit the exhibition “Smart Nation CityScape” at Singapore City Gallery on Maxwell Road.

The visit follows high-level meetings between the two sides in 2022, such as President Halimah's visit to Vietnam in October 2022 and the visit of Singapore's Deputy Prime Minister Heng Swee Keat in September 2022.

Singapore and Vietnam have a strong economic relationship, with bilateral trade growing steadily over the past decade, reaching SGD31.3 billion (USD2.3 billion) in 2022.

As of May 2022, Singapore is the second largest cumulative investor in Vietnam, with a total investment of SGD94.5 billion (USD71.5 billion).

A key element of economic cooperation between the two countries is the Vietnam-Singapore Industrial Parks (VSIP). There are now 12 VSIPs, attracting USD17 billion in investment and creating 300,000 jobs.

Technical cooperation through the Singapore Cooperation Program is another important area of commitment.

To date, more than 20,900 Vietnamese officials have attended courses within the framework of the program on various development topics./.

Compiled by BTA

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