Singapore and Vietnam announced that they have upgraded their bilateral relationship to a Comprehensive Strategic Partnership (CSP). This highlights a commitment to deepen cooperation in new sectors such as the digital economy, renewable energy and carbon credits. This comes during the official visit of General Secretary of the Communist Party of Vietnam Tô Lâm.
“Both leaders affirmed the excellent bilateral relations, supported by regular high-level contacts and strong economic ties,” Singapore’s Ministry of Foreign Affairs (MFA) said in a statement. “Both leaders recognized the importance of bilateral efforts and how these can contribute to regional initiatives such as the ASEAN Digital Economy Framework Agreement and the ASEAN Energy Grid,” the MFA said. The CSP is Singapore’s first such partnership with an ASEAN member country. “This reflects the close ties and trust between our countries, as well as the potential for even greater cooperation,” Prime Minister Wong said. Speaking at the official luncheon, Wong said the “strong economic cooperation” between Singapore and Vietnam is the “cornerstone” of their relationship. “Last year, Singapore became Vietnam’s largest foreign investor, which is an indication of our business community’s confidence in Vietnam’s potential,” Wong said. Vietnam’s exports to Singapore also increased significantly during the same period, Wong said, emphasizing that ties between the two economies are gradually strengthening.
