The diplomat highlighted that Singapore has been the leading source of foreign direct investment (FDI) into Vietnam for two consecutive years, with money injected into a wide range of areas such as financial and insurance services, manufacturing, real estate, and whole sale and retail trade.
The Vietnam – Singapore Industrial Parks (VSIP) are the cornerstone of Singapore’s economic engagement with Vietnam. They have attracted some 14 billion USD, and generated over 270,000 jobs in Vietnam over the past 25 years.
Developing digital economy will be a key priority for both nations in the coming decades, according to the diplomat.
The Singaporean Ambassador also stressed the importance of the resumption of commercial flights between the two countries, describing it a vital step to recover safe travel, supporting economic growth and people-to-people ties.
On the bilateral ties, the diplomat said they are built on a strong foundation of mutual trust and support, have been further cemented over the past two years despite numerous difficulties caused by the raging COVID-19.
High-level bilateral engagements have been sustained, including an in-person meeting between Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong in Jakarta in April in 2021, and an official trip to Vietnam by Singaporean Foreign Minister Dr Vivian Balakrishnan in June last year.
In Hanoi and Ho Chi Minh City, the Singapore community rallied to collect funds to purchase and distribute essentials for the needy, mindful of Vietnam's timely support to Singapore when the situation was difficult back in their country./.
