February 29, 2024

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Singapore and Vietnam Forge Green and Digital Partnership

Singapore and Vietnam have taken significant steps to enhance their bilateral cooperation through the conclusion of government-to-government agreements and initiatives. This demonstrates the strong commitment of both countries to strengthen their partnership in emerging areas such as the green economy, digital economy, and innovation.

Singapore’s Second Minister for Trade and Industry, Dr Tan See Leng, accompanied Prime Minister Lee Hsien Loong during his official visit to Hanoi, Vietnam. During this visit, Prime Minister Lee and Vietnam’s Prime Minister Pham Minh Chinh witnessed the signing of several partnerships that will further strengthen bilateral cooperation.

Minister Tan emphasised the significance of these agreements, stating that they reflect the commitment of both countries to build a stronger partnership in emerging sectors which aim to create new opportunities for businesses and individuals in both Singapore and Vietnam.

He added that the two nations can establish themselves as global leaders by working together to address comprehensive issues like climate change and the digital transformation of economies. Their collaborative efforts can act as role models for other countries, promoting international collaboration in the face of urgent problems.

Additionally, one of the key developments during the visit was the Upgrade of the Framework Agreement on Singapore-Vietnam Connectivity. Minister Tan and Vietnam’s Minister of Planning and Investment, Nguyen Chi Dzung, exchanged Side Letters to affect this upgrade. This marks the first expansion of the Connectivity Framework Agreement (CFA) since its initial signing in 2005.

The upgraded CFA now covers five pillars of cooperation in 11 areas, including energy connectivity, sustainability, infrastructure, digital innovation, and connectivity in various sectors. This expansion reflects the growing business opportunities in both established and emerging areas of growth.

Recognising the potential for collaboration between the innovation ecosystems of both countries, Minister Tan signed a Memorandum of Understanding (MoU) on the Innovation Talent Exchange (ITX) Programme. This programme will facilitate talent exchange between Singapore and Vietnam, allowing professionals to work in eligible innovation-related roles in each other’s countries.

It aims to equip talent from both nations with the skills and experiences needed to seize opportunities in the field of innovation. A joint task force will support the implementation of the MoU, with further details about the ITX Programme to be released in due course.

Further, the potential for economic progress in both Singapore and Vietnam can be fueled by their enhanced engagement in the green and digital economies. By combining their resources and knowledge, Singapore and Vietnam can take advantage of new markets that will open new opportunities for companies to grow and prosper. Their citizens may see greater affluence and the creation of jobs because of this economic growth.

Likewise, this collaboration highlights the significance of innovation. Cooperating in fields such as technology, R&D, and other sectors allows both countries to foster innovation, which is essential for maintaining competitiveness in the international market. Knowledge and idea sharing between Singapore and Vietnam has the potential to lead to ground-breaking discoveries that will benefit not just their own economies but also the global community at large.

Also, this collaboration goes beyond the fields of technology and the economy. It shows how dedicated both nations are to common ideals like free markets, entrepreneurship, and environmental stewardship. These common values provide a strong basis for cooperation and can be used as an example of how states with disparate histories and cultures can successfully cooperate for their own interests.


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