Singapore, Vietnam to share formulas for success in the new era

On the occasion of the official visit of Chairman of the National Assembly Tran Thanh Man to Singapore, Vietnamese Ambassador to Singapore Mai Phuoc Dung talks to The World & Vietnam Report about the significance of the visit and the highlights of bilateral relations between the two countries.

Vietnamese Ambassador to Singapore Mai Phuoc Dung. Photo: baoquocte.vn

Could you tell us about the significance and the main focus of the official visit of Chairman Tran Thanh Man to Singapore?

This visit by Chairman Tran Thanh Man is the only visit by a Vietnamese leader to Singapore in 2024. Following high-level visits in 2022 and 2023, this trip underscores the comprehensive and flourishing relationship between Vietnam and Singapore.

This is in return for the visit of the then Speaker of the Singapore Parliament, Tan Chuan-Jin, to Vietnam in May 2022. It illustrates the multifaceted nature of Vietnam-Singapore relations, encompassing party diplomacy, state diplomacy and parliamentary diplomacy.

During Tan's visit, the two countries' parliaments signed a Memorandum of Understanding (MOU) on cooperation. Chairman Man's current visit is aimed at reviewing the agreements signed on that momentous occasion and identifying new areas and methods to further strengthen ties.

This visit also contributes to strengthening parliamentary relations not only between Vietnam and Singapore, but also solidarity within the ASEAN parliamentary framework. In particular, it has special significance as both nations prepare to establish a Comprehensive Strategic Partnership in the near future.

Could you elaborate on this " imminent" milestone of a comprehensive strategic partnership and what reassures you most about Vietnam-Singapore relations?

What reassures me most is the foundation of political trust between the two nations. This is the most important factor in bilateral relations, as the leaders of both countries trust each other, share common views on international issues, and work together for stability and peace to promote development and export-oriented economies.

Second, Vietnam and Singapore have very strong trade and investment ties. Singapore has been Vietnam's largest investor for many years, and Singaporean investors are eager to invest in Vietnam and expand cooperation in new areas, especially digital transformation and green transition.

Hon. Wan Rizal, Member of Parliament, Ambassador Mai Phuoc Dung and staff of the Vietnamese Embassy in Singapore welcome National Assembly Speaker Tran Thanh Man and his wife at Changi Airport. Photo: VNA

The establishment of a Comprehensive Strategic Partnership will elevate bilateral relations to new heights, strengthen mutual trust, and create opportunities for companies from both countries to access each other's markets.

This will be the highest designation for Vietnam's relations with other countries. With this milestone, Singapore will have greater confidence in its relationship with Vietnam and will be more willing to share valuable development experiences.

In areas such as the digital economy and the green economy, how do you see Vietnam and Singapore working together?

During the exchange of visits between the leaders of the two countries in 2022 and 2023, a series of agreements were signed in new areas of cooperation.

First, the digital partnership, followed by the green partnership, which includes cooperation on renewable energy and carbon credit initiatives.

Through this visit, parliamentary leaders from both countries aim to remove legal barriers and make these cooperative efforts more substantive and effective. This will help Singaporean and Vietnamese businesses increase investment in both countries.

In the past, Singaporean companies have shown a keen interest in sectors such as industrial property, logistics and infrastructure. And now they are increasingly interested in investing heavily in renewable energy. Singapore hopes to sign a carbon credit cooperation agreement with Vietnam soon, an area where Vietnam has significant potential and Singapore has extensive experience.

Singapore is also helping Vietnam develop high-quality human resources, notably through the Talent Exchange Program, which will send 200 Vietnamese students to Singapore and 200 Singaporean students to Vietnam in 2025. In 2024, Singapore will double its scholarships for Vietnamese students.

How is Vietnam's position and potential to seize new opportunities for breakthrough growth perceived by Singapore's leaders and media?

Singapore expects Vietnam to maintain political stability. Within ASEAN, there is a shared belief that both Singapore and Vietnam have considerable potential for robust development in the near future.

Singapore hopes that Vietnam will embrace its "new era" through concrete measures such as removing barriers to foreign investment and creating a transparent regulatory framework. Singapore is optimistic about Vietnam's future policies.

In recent years, Singaporean leaders and media have praised Vietnam for successfully balancing relations with major powers such as the United States, Russia and China - a feat few countries can achieve.

NA Chairman Tran Thanh Man meets with the Vietnamese community in Singapore. Photo: Vietnam News Agency

Vietnam's hosting of Russian President Vladimir Putin this year was also well received. Like Vietnam, Singapore follows a policy of non-alignment, maintaining balanced relations with major powers while safeguarding its national interests. Singapore believes that other countries can learn from Vietnam's strategic approaches.

What lessons can Vietnam take from Singapore to move forward?

Singapore's greatest lesson is to stick to its established policies, maintain strong, transparent and people-centered leadership, and effectively leverage its strengths, especially its human resources, in the midst of limited natural resources.

Singapore also prioritizes harmony and unity among its diverse ethnic groups, instilling a sense of national pride in its citizens. These factors are the foundation of Singapore's success.

Vietnam has sent many officials to Singapore for training, where they have gained valuable insights. Vietnam has much to learn from Singapore, including its approaches to human resource development and education.

In Singapore, students start learning English in first grade. In addition, Singapore is willing to share experience with Vietnam in areas such as streamlining government structures, urban planning, institutional reform, and sustainable development. Vietnamese officials who have studied in Singapore value the lessons learned. Singapore is also keen to share knowledge at higher levels if Vietnam so desires.

Thank you for your time!