Prime Minister Pham Minh Chinh and Prime Minister Lawrence Wong at their second annual meeting. Photo: Nhat Bac

On 28 October 2025 in Kuala Lumpur, Malaysia, the Prime Ministers of Vietnam and Singapore convened the Second Annual Meeting under their Comprehensive Strategic Partnership. The discussion highlighted cooperation to boost Vietnam’s strategic industries, focusing on semiconductors, renewable energy, innovation, and the digital economy.

Key Cooperation Framework

The meeting also witnessed the signing of the Vietnam-Singapore Action Programme 2025–2030, a roadmap that implements six major cooperation pillars agreed under the upgraded partnership between the two nations. These pillars encompass economic-trade connectivity, energy-sustainability, science-technology-innovation, human resource development, infrastructure-industry and cultural­-people-to-people links. The action programme aims to translate broad commitments into concrete projects and measurable outcomes.

Focus on Developing Vietnam’s Strategic Industries

Prime Minister Pham Minh Chinh urged Singapore to support Vietnam’s strategic industries. Photo: Nhat Bac

Prime Minister Pham Minh Chinh urged Singapore to support Vietnam’s strategic industries, emphasizing their role in driving high-tech transformation and green growth. Vietnam considers these industries a key driver to ascend the global value chain and strengthen resilience in supply networks.

Vietnam considers strategic industries as a core driver to ascend the value chain and integrate into global supply networks. In this context:

• The semiconductor sector is identified as a priority, with growth expectations of annual value-added between 10–15 % in the 2024-2030 period and revenue exceeding US$25 billion. 
• Renewable energy and the digital economy are highlighted as twin engines for Vietnam’s green and smart industrial transition, where Singapore’s expertise in technology, innovation and infrastructure can play a critical role. 
• The two countries will also collaborate on advancing the Vietnam-Singapore Industrial Parks (VSIP) network. The next-generation VSIP 2.0 is envisaged as greener, smarter and better integrated into innovation and supply chains. 

Singapore’s Support Vietnam’s Strategic Industries

Singapore has committed to a multi-layered support strategy:

• Training and upskilling high-level human resources and strategic talent for Vietnam’s industrial ecosystem.
• Facilitating connectivity of data systems, including economic, commercial and population datasets, and developing data-centres, especially within the VSIP framework.
• Expanding bilateral trade in agriculture and food security items (such as rice, poultry, seafood) and supporting Vietnam’s export diversification.
• Deploying Singaporean investment and expertise in infrastructure, clean energy, digital platforms and industrial innovation to help operationalise Vietnam’s strategic industry ambitions.

Strategic Implications and Benefits

The partnership carries significant implications:

• For Vietnam: Access to Singapore’s advanced industrial and innovation ecosystem can accelerate its climb up the manufacturing value chain, boost foreign investment, and enhance sectoral competitiveness in strategic industries. The VSIP network already spans 18 parks across 13 provinces and has attracted over US$18 billion in investment to date. 
• For Singapore: Reinforces its role as a regional innovation and industrial hub, deepens ties with a fast-growing Southeast Asian economy, and expands opportunities in sectors from high tech to green energy.
• For both countries together: The collaboration advances shared goals of digital economy transition, sustainable industrial growth, supply chain resilience and regional connectivity. It also aligns with broader ASEAN objectives and global trends in industrial technology and green development.

Roadmap Ahead

In the coming period, both sides have agreed to:

• Accelerate implementation of specific projects under the 2025-2030 action programme, with annual milestones linked to each of the six pillars.
• Build on Singapore’s existing investments in Vietnam – notably in manufacturing, real-estate, energy and high tech – where as of early 2025 Singapore had nearly 3,951 active projects in Vietnam worth about US$84.14 billion. 
• Expand institutional mechanisms, including establishing a strategic dialogue between the ruling parties of both countries, and leveraging new frameworks for science-technology and innovation cooperation.
• Focus on transforming the VSIP model into VSIP 2.0 – smart, green and digitally connected – thus setting a template for industrial parks of the future and attracting next-generation investment.

The two Prime Ministers witnessed the 2025–2030 Action Programme handover. Photo: Nhat Bac

Vietnam’s call for Singapore’s support in developing Vietnam’s strategic industries marks an important milestone in bilateral relations and underlines Singapore’s role as a trusted partner in advancing these sectors.

Source: VGP News

1/11/2025