More new-generation Vietnam-Singapore Industrial Parks (VSIPs), designed to be greener and better aligned with Vietnam’s development trends and priorities, will be established in Vietnam, according to Singaporean Prime Minister Lawrence Wong.

The Singaporean PM was speaking on a phone call with his Vietnamese counterpart Pham Minh Chinh on Wednesday, during which the two leaders discussed the fruitful cooperation between the two countries, particularly in terms of economic development.

VSIPs are considered a symbol of the successful economic partnership between the two countries, and Wong shared intentions to promote the development of new-generation VSIPs in Vietnam that are greener and better suited to Vietnam’s development priorities.

PM Wong also said Singapore desires to work with Vietnam to effectively implement the Framework Agreement on Connecting the Two Economies and Vietnam-Singapore Green Economy - Digital Economy Relations, especially in clean energy and carbon credits, in order to bring bilateral cooperation to a new level.

He pledged to continue encouraging Singaporean businesses to expand their investments in Vietnam in a manner that helps improve the FDI quality and prioritizes the high technology, digital economy, circular economy, clean energy, semiconductor, and artificial intelligence spheres.

PM Chinh affirmed that Vietnam is interested in leveraging the VSIP model and will create favorable conditions for more new-generation VSIPs to operate in the country.

Since the first VSIP was established in Binh Duong Province in 1996, there have been 14 additional VSIPs developed in 10 provinces and cities in Vietnam, attracting a total investment of nearly US$20 billion and creating jobs for more than 300,000 people, according to local media. 

PM Chinh stressed that Singapore is an important regional and global partner to Vietnam. 

The Vietnamese government plans to coordinate closely with Singapore to continue developing the countries’ strategic partnership in order to promote dynamic relations in ASEAN and serve as a model for intra-bloc cooperation mechanisms, Chinh stated.

PM Chinh thanked the Singaporean government for its efforts in training Vietnamese government officials at all levels.

He proposed that the two sides strengthen defense and security cooperation, build a national data center, promote cooperation in such areas as finance, education, training, tourism, and people-to-people exchanges

The Singaporean leader affirmed Singapore would continue to support mutual visits and meetings at all levels, especially annual meetings between the two PMs, so as to strengthen friendship and political trust.

Regarding regional issues, the two countries agreed to strengthen ASEAN solidarity and support Laos to successfully assume the ASEAN chairmanship role in 2024.

The two leaders also emphasized the importance of focusing on the sustainable development of ASEAN sub-regions, including the Mekong sub-region, to contribute actively to ASEAN's self-reliance, prosperity, and growth.

The Vietnamese premier extended a cordial invitation to PM Wong and his spouse for an official visit to Vietnam in the near future, which Wong graciously accepted.

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