Momentum for Vietnam-Singapore green-digital economic partnership
In fact, Vietnam and Singapore are actively strengthening cooperation in various fields to promote the Green-Digital Economic Partnership.
Maxport Limited Company (Vietnam) invests over 42 billion VND in rooftop solar power systems at two Maxport 8 factories in Vu Thu district, Thai Binh province. (Photo: VNA)
Singapore (VNA) – 🍰Efforts made by Vietnam and Singapore to elevate their bilateral relationship are expected to contribute to further promoting the Green-Digital Economic Partnership initiated two years ago, according to Prof. Bilveer Singh from the National University of Singapore (NUS).
In an interview granted to Singapore-based Vietnam News Agency correspondents on the threshold of General Secretary of the Communist Party of Vietnam To Lam’s official visit to the city-state, Singh said that Singapore seeks to foster cooperation in developing digital economy within the Association of Southeast Asian Nations (ASEAN), particularly with Vietnam.
Representatives from The Petrovietnam Technical Services Corporation (PTSC) and its Singaporean partner Sembcorp Utilities Pte Ltd at ceremony of the hand-over of contract packages on wind and hydrological measurements and geological surveys under the project on exporting offshore renewable energy from Vietnam to Singapore, in 2024. (Photo: VNA)
Singh highlighted Vietnam’s rapid development, expressing his hope that the two nations will strengthen digital economic cooperation at this time, in line with commitments made by their top leaders, given the model’s great potential and promising future.
For this sector to thrive, Vietnam needs to continue improving its legal framework in areas such as e-commerce and digital services, and developing high-quality human resources, he stressed.
Sharing Singh’s opinion, Prof. Vu Minh Khuong, from the Lee Kuan Yew School of Public Policy under the NUS, said the digital economy is characterised by rapid growth driven by science and technology, noting that with Vietnam’s large IT workforce, further cooperation with Singapore will provide significant development momentum for both countries.
In fact, Vietnam and Singapore are actively strengthening cooperation in various fields to promote the Green-Digital Economic Partnership.
Speaking at an online seminar on March 4 about the Vietnam-Singapore relationship, organised by the Yusof Ishak Institute (ISEAS) of Singapore, Singaporean Ambassador to Vietnam Jaya Ratnam stated that the two countries have expanded their bilateral cooperation to new areas, particularly renewable energy, food, infrastructure, digital economy, and innovation.
These areas of cooperation are being implemented under the Green-Digital Economic Partnership, which enables the two sides to support each other in addressing common challenges and playing a key role in ASEAN, he stated.
Regarding green economy, Ratnam emphasised that Singapore sees Vietnam as a key destination in ASEAN’s energy network due to its huge renewable energy potential.
Both nations have pledged to achieve net-zero emissions by 2050, with Vietnam’s energy products playing a crucial role in this goal, he said, adding that in addition to energy exports, Vietnam has the potential to develop energy production and service facilities.
Meanwhile, Vietnamese Ambassador to Singapore Tran Phuoc Anh underlined the need to further encourage Singaporean investment in high-tech industries, renewable energy, and digital transformation in Vietnam, while facilitating Vietnamese businesses’s investment expansion in Singapore.
Established in February 2023 during Vietnamese Prime Minister Pham Minh Chinh's official visit to Singapore, the Green-Digital Economic Partnership particularly focuses on clean energy and innovation cooperation./.
With economic collaboration on the rise, Vietnam-Singapore trade is projected to grow by around 10% annually over the next three years, while increased investment from Singaporean enterprises is anticipated, particularly in manufacturing, technology, energy, and services.
Reflecting on a working session between the HCMA’s leaders and the Singaporean Ambassador last year, Thang noted that a delegation of high-ranking officials from Vietnamese ministries, agencies and localities attended the Potential Leaders Programme in Singapore.
Newly-appointed Vietnamese Ambassador to Singapore Tran Phuoc Anh on January 7 presented his credentials to Singaporean President Tharman Shanmugaratnam.
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Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
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Lao Minister of Foreign Affairs Thongsavanh Phomvihane affirmed that the presence of Vietnamese press offices in Laos vividly demonstrates the great friendship, special solidarity, and comprehensive cooperation between the two nations, as the press is not only a means of communication but also an important bridge for spreading consciousness about the history, values, and strategic depth of the Laos – Vietnam relationship to the people of both countries and the international community.
The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
The Chairman stressed the need for stricter fiscal discipline, faster digital transformation, and more efficient management of State budget revenues and expenditures.
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