Vietnamese Prime Minister Pham Minh Chinh (L) meets his Singaporean counterpart on the sidelines of 40th and 41st ASEAN Summits (Photo: VNA) In its article posted on February 8, The Business Times quoted SingaporeanForeign Minister Vivian Balakrishnan as saying that even as Singapore andVietnam strengthen cooperation in traditional areas like trade and investment,there are many opportunities to work closer together in new growth areas.
These include the digital economy, renewable energy, carboncredits, green financing, cybersecurity and sustainable infrastructure, he saidin an interview granted to the Vietnam News Agency.
The FM encouraged interested parties to explorecollaboration in these areas and to establish mutually beneficial partnershipsthat advance the interests of both countries. He also stressed the need to givea priority to accelerating cooperation in the digital economy, which encompassesmany new areas such as cybersecurity, cross-border data flows, smart cities,innovation, artificial intelligence and digital payments, the article wrote.
Balakrishnan also noted that Singapore and Vietnam have todo more together on sustainable development, adding that Singapore is keen towork with Vietnam in renewable energy, carbon credits and sustainableinfrastructure with the ambitious goal of achieving net-zero carbon emissionsby 2050.
He described the two ASEAN member states as “long-standingfriends and close partners”, with Chinh’s three-day visit to Singaporecoinciding with the 50th anniversary of diplomatic relations and the 10thanniversary of the bilateral strategic partnership.
Bilateral trade has grown steadily over the past decade,reaching 31.3 billion SGD (23.6 billion USD) last year, up from 26.9 billionSGD in 2021. Singapore was the second-largest cumulative investor in Vietnamafter the Republic of Korea, with about 70 billion USD invested in 3,600projects as of June 2022, added The Business Times.
Meanwhile, in its article posted on February 5, Asia Timessaid that PM Chinh’s Singapore visit will celebrate the 50th anniversary of theestablishment of bilateral relations and promote bilateral cooperation.
Closer relations between these two member countries of theAssociation of Southeast Asian Nations (ASEAN) will contribute to thedevelopment momentum for the ASEAN community in the face of great challengesahead, as both are dynamic economies, and fervent supporters ofmultilateralism.
PM Chinh once said that the more difficulties and challengesASEAN faces, the more it needs to promote the spirit of community thinking,community action, standing shoulder to shoulder, self-reliant and proactive, tomeet any challenge, it wrote. Therefore, intra-regional solidarity isconsidered the most necessary key for ASEAN to stand firm in the face of thechanging world situation.
In addition, both Vietnam and Singapore recognise thatdevelopment is the key to many problems, thus the two countries will contributethe growth engine so that ASEAN can effectively address challenges.
The Vietnamese Government leader’s visit, as well aseffective bilateral cooperation, will be a driving force for ASEAN solidarity,and resilience against pressure from big countries in a changing world, thearticle wrote./.
VNA
