Singapore and Vietnam upgrade ties; deepen cooperation in digital economy, renewables

SINGAPORE: Singapore and Vietnam announced on Wednesday (Mar 12) an upgrade of bilateral relations to a Comprehensive Strategic Partnership (CSP), underscoring their commitment to deepening cooperation in emerging sectors, including the digital economy, renewable energy and carbon credits.

The move came during the official visit of the Vietnamese leader To Lam. The General Secretary of the Communist Party of Vietnam is in Singapore from Tuesday to Thursday. This is his first visit to Singapore since he was named the party chief in August last year.

On Wednesday, Mr Lam received a ceremonial welcome at Parliament House and met Prime Minister Lawrence Wong, who also hosted an official lunch in his honour.

"Both leaders reaffirmed the excellent bilateral relations, underpinned by regular high-level exchanges and strong economic linkages," said Singapore's Ministry of Foreign Affairs (MFA) on Wednesday.

Both leaders agreed on the importance of the bilateral efforts and how they could contribute to regional initiatives, such as the ASEAN Digital Economy Framework Agreement and the ASEAN Power Grid, said MFA. 

In a Facebook post, Mr Wong said Mr Lam's visit was "especially meaningful" as Singapore marks 60 years of independence while Vietnam commemorates its 80th anniversary.

The CSP is Singapore's first such partnership with an ASEAN member state.

"It reflects the close links and trust between our nations and the immense potential for even greater collaboration," Mr Wong wrote.

He added that the comprehensive strategic partnership reaffirms both countries' shared commitment to working together in the aforementioned areas.

Mr Wong said in his toast speech during the official lunch that the "robust economic collaborations" between Singapore and Vietnam are the "cornerstone of our relationship".

"Last year, Singapore was Vietnam’s top foreign investor, and that reflects the high level of confidence that our businesses have in Vietnam’s potential."

Vietnam's exports to Singapore have also increased significantly over the same period, Mr Wong added, noting the growing links between both economies.

During Mr Lam's visit, both leaders also witnessed the exchange of Memoranda of Understanding and agreements related to combatting transnational crime, digital transformation, offshore wind power trade cooperation, and the development of Vietnam–Singapore Industrial Parks, said MFA.

Mr Lam also met Senior Minister Lee Hsien Loong and exchanged views on global and regional issues of mutual concern, as well as welcomed opportunities to further strengthen bilateral cooperation in areas such as science and technology, and renewable energy.

Mr Lam and Speaker of Parliament Seah Kian Peng also reaffirmed the strong bilateral relations and looked forward to strengthening inter-parliamentary exchanges between Singapore and Vietnam.

At the National University of Singapore's (NUS) Lee Kuan Yew School of Public Policy, Mr Lam delivered a lecture titled Vietnam’s Policy for Scientific and Technological Development, Innovation, and National Digital Transformation in a New Era: Opportunities for Vietnam–Singapore Cooperation, which was chaired by Senior Minister and Coordinating Minister for National Security Teo Chee Hean.

A new orchid hybrid, Papilionanda To Lam Linh Ly, was named in honour of Mr Lam, his wife Madam Ngo Phuong Ly, and their daughter.

Mr Wong said in his Facebook post that he looks forward to visiting Vietnam in late March to strengthen ties between both countries and explore new opportunities for cooperation.