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Vietnam and Singapore: Turning Partnership into Real Action
Just two weeks after upgrading their relationship to a Comprehensive Strategic Partnership, Vietnam and Singapore are already putting words into action.
During Prime Minister Lawrence Wong’s visit to Vietnam, a crucial MOU was signed to kick off four new Vietnam-Singapore Industrial Parks (VSIP) in Hai Phong, Hai Duong, Hung Yen, and Binh Duong. Since its first investment in Vietnam in 1996, VSIP has grown to become one of the largest players in the country’s industrial landscape, managing a portfolio of 20 industrial parks. The addition of these new projects will not only expand VSIP’s footprint but also capitalize on Vietnam’s robust FDI inflow, even amid global uncertainties.
In return, Singapore is stepping up to support Vietnam’s ambitions in renewable energy and high-quality human resource development. Development of capital market is another critical area where Singapore’s expertise comes into play. Recently, the State Securities Commission (SSC) and the Monetary Authority of Singapore have signed a Letter of Intent (LOI), committing to collaborate on capital market regulation and digital asset regulatory framework. This partnership marks an important milestone in Vietnam’s journey to modernize its capital market, paving the way to become a more attractive destination for international investors.
Amid global uncertainty, Vietnam is choosing a different path—proving that by building strong, collaborative relationships with international partners, it can secure its place as a resilient and dependable force on the world stage.
These projects are not just symbolic—they are real, on-the-ground investments that will create modern, sustainable economic hubs, reinforcing Singapore’s trust in Vietnam’s industrial potential.
But it’s not just about investments. Singapore is also stepping up to support Vietnam’s goals in renewable energy and the digital economy, recognizing the country’s ambition to strengthen its role in the global supply chain.
