Despite suffering the impact of the CoVID-19 pandemic, bilateral cooperation in both trade and investment has grown steadily, with Singapore maintaining the leading investment position in Vietnam.

Prime Minister Nguyen Xuan Phuc (R) hosts outgoing Singaporean Ambassador
to Vietnam Catherine Wong (Photo: VGP)

Outgoing Singaporean Ambassador to Vietnam Catherine Wong made the remarks during a meeting with Prime Minister Nguyen Xuan Phuc in Hanoi on January 13, during which she said her nation has become the leading investor in Vietnam and this is considered an important achievement in the relationship between the two nations.

Vietnam is an important market for Singapore, and Singaporean investors are seeking more opportunities to invest in the Southeast Asian nation, especially in prioritized areas such as innovation, development of smart cities, and startups.

Vietnam and Singapore are not only partners within ASEAN but also in international and regional forums, Catherine Wong stated

The diplomat congratulated Vietnam on its success as ASEAN 2020 Chair despite difficulties caused by the COVID-19 pandemic, saying that Vietnam's initiatives have contributed to further stepping up intra-bloc connection and cooperation.

Concerning multilateral trade liberalisation, Ambassador Wong greatly valued Vietnam’s role in accelerating the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2017 and the Regional Comprehensive Economic Partnership (RCEP) Agreement in 2020.

She also hailed Vietnam’s COVID-19 response and economic recovery efforts, voicing her hope that the two countries will work to soon re-open doors to each other as the pandemic is put under control.

PM Phuc, in turn, told his guest that although the relationship has recorded fruitful developments, it is still below the potential, adding that both nations need more cooperation models to contribute to promoting economic cooperation and GDP growth, and generating more jobs for labourers.

He said he hopes that more and more Singaporean technology corporations will explore and invest in the Vietnamese market as a means of securing Singapore's leading investment position in Vietnam.

He also wished that more and more Vietnamese students will pursue their study in the island-city state, which boasts good education, thus improving Vietnam's human resources quality.

The Vietnamese cabinet leader congratulated Singapore on its achievements in COVID-19 control, and thanked the country for its recent assistance for flood victims in central Vietnam.

PM Phuc wished that the Singaporean Ambassador would continue to contribute to fostering the Vietnam- Singapore strategic partnership no matter what position she holds in the future.