Vietnam-Singapore economic ties enter new phase of cooperation
Politburo member and Standing Member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee Tran Cam Tu’s official visit to Singapore and his co-chairing of the first Vietnam-Singapore Strategic Dialogue on August 24-25 are expected to inject fresh momentum into investment areas of cooperation.
A model of cooperation
As complementary economies, Vietnam and Singapore have promoted the implementation of trade agreements to strengthen bilateral economic ties. Both members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), the two countries have effectively tapped the benefits offered by these free trade agreements.
Singapore is among Vietnam’s leading economic partners in investment, trade and human resource training. It is currently Vietnam’s second-largest foreign investor, with more than 4,500 valid projects and total registered capital of nearly 97 billion USD. Its projects span processing and manufacturing, infrastructure, logistics, real estate, finance, high technology and modern services, contributing to economic growth, job creation and economic restructuring.
A prominent symbol of bilateral cooperation is the network of Vietnam-Singapore Industrial Parks (VSIPs). Since the first VSIP was launched in 1996, the network has grown to 22 parks in localities nationwide, becoming not only an effective economic cooperation model but also a symbol of trust, long-term vision and strategic connectivity between the two countries.
Cao Xuan Thang, Trade Counsellor at the Vietnamese Trade Office in Singapore, said Vietnam-Singapore economic and trade ties have made strong progress over the past half century, becoming a successful model of cooperation in Southeast Asia.
According to Singapore’s Enterprise Singapore (ESG), in the first seven months of 2026, Vietnam remained Singapore’s 10th-largest trading partner, with two-way trade reaching nearly SGD33 billion, up 43.1% year-on-year. Singapore’s exports to Vietnam stood at SGD17.8 billion, up 9%, while imports from Vietnam surged 126.8% to SGD15.1 billion, highlighting the significant role of transit and re-export activities.
New room for cooperation
The two economies are highly complementary, with Singapore serving as a leading regional hub for finance, logistics and innovation, while Vietnam offers a dynamic market, a young workforce and growing integration into global supply chains.
Their economic ties are also shifting from traditional cooperation towards technology, innovation and green development. Recent initiatives include a memorandum of understanding between the Quang Trung Software City Development Co. Ltd. and the Singapore Semiconductor Industry Association (SSIA) to connect the two countries’ semiconductor ecosystems and promote investment, R&D, technology transfer and human resource training.
Da Nang leaders discuss cooperation with Singapore group in digital infrastructure
VOV.VN - Leaders of the central city of Da Nang had a working session with representatives from Singapore's Sembcorp Industries on July 23 to discuss investment in industrial infrastructure, digital infrastructure, and a free trade zone.
