Vietnam-Singapore ties grow

(VOVWORLD) - Since Vietnam and Singapore established diplomatic ties 45 years ago, their relationship has been taken up a notch or two. VOV reviews the development of Vietnam-Singapore relations.
Vietnam-Singapore ties grow - ảnh 1Prime Ministers of Vietnam and Singapore witness the signing of cooperative agreements between the two countries' agencies 

Vietnam and Singapore have strengthened cooperation in all areas and worked together to build a prosperous and unified ASEAN Community. Political trust has been solidified and a strategic partnership has been established

Foundation for friendship

Singapore’s former Prime Minister Lee Kuan Yew and former Vietnamese Prime Minister Vo Van Kiet contributed enormously to growing bilateral ties.

Prime Minister Lee visited Vietnam several times during the initial stage of the renewal process to forge closer cooperation. So far, 7 Vietnam-Singapore Industrial Parks have been set up in Vietnam since the first one debuted in 1996 in Binh Duong province. These IPs have attracted nearly 11 billion USD and generated hundreds of thousands of jobs for Vietnamese workers.

Many Singaporean real estate companies like Keppel Land, Capitaland, Mapletree, and Ascendas-Singbridge have implemented long-term projects in Vietnam. Singaporean food companies like Jumbo, Yakun, Hill Street, and Pastamania opened branches in Ho Chi Minh City.

Bilateral cooperation enhanced

Economics is one of the main pillars in Vietnam-Singapore cooperation. Since the signing of the Framework on Vietnam-Singapore Economic Connectivity in 2006, two-way trade has doubled, reaching 22 billion USD last year. Singapore is Vietnam’s third largest foreign investor and biggest ASEAN investor with 1,800 projects worth 43 billion USD.

Singapore’s investment in Vietnam is focused on industrial parks, real estate, and consumer goods and is now being expanded to other areas as Vietnam joins toward the 4th industrial revolution.

The two countries have boosted collaboration in human resource training and tourism. Since 1992, more than 18,000 Vietnamese officials have attended courses in Singapore under the ASEAN Integration Initiative. In 2016, Vietnam received nearly 260,000 Singaporean tourists, up 8.7% from the previous year.

Future-oriented cooperation

The two countries have worked closely at multilateral forums like ASEAN, APEC, ASEM, and the UN. They both support ASEAN’s stance on the East Sea, uphold a rule-based approach to building an open and comprehensive regional architecture, believe in ASEAN’s central role, and are determined to create a united ASEAN.

Vietnam and Singapore will celebrate the 45th anniversary of their diplomatic ties on August 1st and the 5th anniversary of their strategic partnership this September.