The Vietnam – Singapore relations have grown strongly based on the high level of trust at the political level, win-win partnerships, and enhanced people-to-people exchange, according to Singaporean Ambassador to Vietnam Jaya Ratnam.
He made the affirmation during an interview with the Vietnam News Agency
on the occasion of the 50th anniversary of the Singapore – Vietnam
diplomatic relations, and 10th anniversary of their Strategic
Partnership.
Reporter: Vietnam and Singapore are going to
celebrate the 50th anniversary of their diplomatic relations, and 10th
anniversary of Strategic Partnership. What are the highlights of the
bilateral ties and prospects for the coming years?
Ambassador Jaya Ratnam: 2023 marks several important
milestones for our relations. It has been 50 years since Singapore and
Vietnam established diplomatic relations, and 10 years since we
established our Strategic Partnership. Our bilateral relations have
grown tremendously over these years.
Let me highlight three areas where we have made tremendous strides.
First, our leaders built strong trust with one another. In 1991, the
late Prime Minister Vo Van Kiet asked Mr Lee Kuan Yew to advise Vietnam
on opening up its economy. This marked the beginning of a close personal
relationship between successive generations of our leaders. Even today,
we continue to reap the benefits of that foundation.
Second, we prioritised economic development. One of the most important
projects is the Vietnam-Singapore Industrial Park (VSIP). In 1994,
then-Prime Minister Goh Chok Tong proposed the idea to Prime Minister
Kiet. Vietnam had been experiencing rapid growth since the Doi Moi
Reforms in 1986, and the VSIP leveraged the complementarity of our
countries to drive economic growth.
Third, we worked together to build a prosperous and peaceful Southeast
Asia under ASEAN. ASEAN welcomed Vietnam’s accession in 1995, and
Vietnam has made critical and important contributions to our regional
peace and stability. Regionally, Singapore and Vietnam share similar
outlooks on many issues and a commitment to the importance of
multilateralism and international law. We are committed to upholding
ASEAN Centrality and unity to preserve the international rules-based
order. ASEAN is our common pillar of regional partnership and it gives
us credibility when we engage external partners as well.
Fast-forward to today, and you can see how our relationship has grown
and continues to grow very rapidly. Our leaders meet regularly and
enjoy excellent rapport. Prime Minister Pham Minh Chinh made a
successful Official Visit to Singapore in February this year, and we
look forward to reciprocating with a visit by Prime Minister Lee Hsien
Loong to Vietnam very soon. We exchanged State Visits in 2022, and
President Halimah Yacob also had a very good introductory meeting with
President Vo Van Thuong recently in London.
More broadly, we have developed various longstanding, and unique
institutionalised frameworks for cooperation. The Singapore-Vietnam
Connectivity Framework Agreement (CFA) which was launched in 2006
provides a platform where our economic ministries, and their associated
agencies, coordinate positions, give direction and monitor progress on
strengthening our cooperation further. In keeping with our broadening
bilateral agenda, the CFA has expanded to include discussions on
innovation, energy, and digitalisation.
Similarly, we have also close ties with the Communist Party of Vietnam
(CPV), with regular interactions at all levels as we seek to learn from
each other’s experiences and identify fresh areas where we can work with
each other for mutual benefit.
Reporter: Despite global downturns, Singapore
continued to be the leading source of FDI in Vietnam by pouring US$3
billion into the country during January – June. How would you assess the
country’s business climate, what would you suggest the Vietnamese
Government do to elevate the country’s competitive edge?
Ambassador Jaya Ratnam: Economic cooperation has been
the cornerstone of our bilateral relationship. Vietnam has consistently
been one of Asia’s top performers. Singaporean businesses are confident
in Vietnam’s long-term economic prospects. Hence since 2020, Singapore
has been one of Vietnam’s top sources of foreign investment. This is a
vote of confidence in Vietnam’s future. As of December 2022, Singapore
was Vietnam’s second-largest foreign investor with a cumulative
investment of US$70.8 billion. Top Singapore investment sectors in
Vietnam are transportation & storage, manufacturing, real estate
activities, accommodation, food services, financial & insurance
services and wholesale & retail trade. In 2022, our bilateral trade
grew by just over 16% year-on-year to reach US$23.5 billion. Overall, I
am confident that our economic ties will grow from strength to strength,
especially as we identify new priorities for growth under our Green and
Digital Economic Partnership.
Reporter: How do you evaluate the potentials for both nations to boost trade ties to the next level?
Ambassador Jaya Ratnam: Looking ahead, there are many
opportunities to work together in new growth areas. These include the
digital economy, renewable energy, carbon credits, cybersecurity, and
sustainable infrastructure.
Hence, when Prime Minister Pham Minh Chinh visited Singapore in February
2023, both countries agreed to embark on the Green-Digital Economic
Partnership (GDEP). This Partnership is an umbrella framework, which
upgrades our bilateral relationship by focusing on energy,
sustainability, infrastructure, digital economy and innovation, as well
as connectivity. This will not only support the green and digital
aspirations of both our countries, but also allow our cooperation to
serve as a pathfinder in ASEAN as well.
In this regard, there are three areas
where Singapore and Vietnam are looking to work hand-in-hand to seize
the opportunities of the next decade and deepen our cooperation.
First, innovation. Singapore and Vietnam are among the top three
start-up eco-systems in Southeast Asia. With our common goal of driving
economic growth through technology and innovation, there is scope for
Singapore and Vietnam to tap on each other’s innovation eco-systems for
partnerships, funding and talent.
Second, energy connectivity. Singapore and Vietnam share a common vision
of achieving net zero by 2050. The scaling up of renewable energy and
development of regional power grids will not only support our individual
decarbonisation efforts, but also promote greater infrastructural
connectivity to help advance the region’s sustainable energy goals.
Third, sustainability. We urgently need to accelerate climate action to
meet the goals of the Paris Agreement. Carbon markets can play a
critical role in supporting countries’ decarbonisation, particularly in
hard-to-abate sectors. In October 2022, Singapore and Vietnam signed an
MOU to collaborate on carbon credits, aligned with Article 6 of the
Paris Agreement. This puts both Singapore and Vietnam in excellent
positions to capture the opportunities generated by carbon markets. We
look forward to jointly implementing carbon credit generating projects
in the coming years ahead. Our projects can help spur a more vibrant
carbon market in the region.
Reporter: While economic cooperation is a pillar in
the Vietnam – Singapore relationship, cultural collaboration between
the two sides has not been tapped to the fullest extent. What are your
recommendations for both nations to promote cultural exchange?
Ambassador Jaya Ratnam: Our partnership goes well
beyond the dollars and cents of trade and investment. The most important
pillar is our people-to-people relationship.
Post-COVID, Singaporeans and Vietnamese have resumed tourism, education,
and cultural interactions. Vietnam has always been, and continues to
be, a popular destination among our students for exchange programmes and
study visits. Similarly, Singapore has always welcomed Vietnamese
students into our country and educational institutions, where they have
contributed much energy, passion, and talent.
Vietnam is also our top partner for the Singapore Cooperation Programme
(SCP). More than 21,000 Vietnamese officials have attended SCP courses,
and Singapore will continue to share our experiences with Vietnamese
officials, provinces, and municipalities to support Vietnam’s
development.
One area where we are pressing ahead is to increase opportunities for
our youth to engage each other. Our latest initiative will be the
inaugural Singapore-Vietnam Youth Leaders Exchange Programme (SVYLEP)
2023 scheduled to take place in August 2023.
As we look forward, the future for Singapore-Vietnam relations is bright
and full of promise. It is for this reason that we have chosen to
conclude our 50/10 celebrations with an event called Spotlight Singapore
in Vietnam (SSV), which will bring more than 200 youths, artists, and
young entrepreneurs from Singapore to Hanoi and Ho Chi Minh City to
participate in a series of cultural, sports and business events from
October 19 to 25 this year. It is through such networks of friendship
that we will continue to sustain and grow our relations in the coming
decades.
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