At the 19^th Vietnam–Singapore Connectivity Ministerial Meeting held on October 10 at the Ministry of Finance (MoF) headquarters in Hanoi, Minister of Finance Nguyen Van Thang and Singapore’s Minister for Manpower and Minister-in-charge of Energy and Science and Technology Tan See Leng co-chaired discussions aimed at strengthening collaboration in trade, finance, innovation, and green development.

Also attending the conference were Jaya Ratnam, Singapore's Ambassador to Vietnam, along with representatives from ministries, diplomatic agencies, businesses, and economic organisations of both countries.

In his opening remarks, Minister Thang spoke of the significance of the meeting, which follows the official upgrade of bilateral ties to a comprehensive strategic partnership during Party General Secretary To Lam's visit to Singapore in March 2025.

"This is a breakthrough development, reflecting deep political trust and paving the way for a comprehensive and substantive phase of cooperation between the two countries," Minister Thang stated.

Minister Thang noted that the Vietnam-Singapore Connectivity Ministerial Meeting is a key activity in implementing the comprehensive strategic partnership framework. It serves as a high-level dialogue mechanism to promote cooperation in areas such as trade, investment, energy, digital transformation, green development, and human resource training, while also strengthening strategic connectivity amid a volatile regional and global landscape.

In 2025, Vietnam's economy continues to show strong growth despite global challenges. GDP growth for the first nine months reached 7.84 per cent, with the third quarter's growth alone at approximately 8.22 per cent. The total import-export turnover exceeds $680 billion, a 17.3 per cent increase on-year, with an estimated trade surplus of $16.82 billion.

Institutional reform and territorial restructuring are being actively implemented to create new growth drivers, aiming for a growth rate above 10 per cent in the coming years.

The finance minister stated that registered foreign investment in the first nine months exceeded $28.5 billion, up 8.5 per cent on-year. Singapore is currently the second-largest foreign investor in Vietnam, with 4,226 active projects and the total registered capital of $87.6 billion. Conversely, Vietnam has 190 ventures in Singapore with a total capital of $685 million, reflecting a deepening trend of two-way cooperation.

"Today's conference is an opportunity for both sides to review the progress of cooperation and discuss specific measures to elevate the Vietnam-Singapore relationship to new heights, aiming for sustainable growth and proactive responses to global shifts," said Thang.

Priority areas for collaboration identified by both sides include investment, agricultural trade and sustainable development, tourism, infrastructure, IT, education and human resource training, innovation, digital transformation, and finance.

Source: VIR