PM Pham Minh Chinh welcomes Singapore PM for official visit

By Giang Huy August 27, 2023 | 07:21 pm PT

Prime Minister Pham Minh Chinh (L) and his Singaporean counterpart at a welcoming ceremony at the Presidential palace in Hanoi, Aug. 28, 2023. Photo by VnExpress/Giang Huy

Prime Minister Pham Minh Chinh helmed the welcoming ceremony of his Singaporean counterpart Lee Hsien Loong at the Presidential Palace on Monday.

Following the ceremonies, the two Prime Ministers would have a dialogue and witness the signing of agreements. Lee is also expected to meet with General Party Secretary Nguyen Phu Trong, President Vo Van Thuong and National Assembly chairman Vuong Dinh Hue, besides other activities in Hanoi.

Lee's official visit to Vietnam from Sunday to Tuesday is considered to be the highlight of Vietnam and Singapore commemorating their 50th anniversary of establishing diplomatic relations, and the 10th anniversary of establishing a strategic partnership.

Singapore is Vietnam's leading economic partner in the region. The two countries are always in the group of each other's 15 largest trading partners, with Vietnam now being Singapore's 12th largest trade partner and Singapore being Vietnam's 15th.

Singapore ranks first in ASEAN and second globally when it comes to investments in Vietnam, with 3,273 projects and a total capital of $73.4 billion.

Bilateral trade turnover between the two countries reached $9.15 billion in 2022, an 11.57% increase from 2021.

Vietnam-Singapore industrial parks have become a symbol of economic cooperation between the two countries, with 14 such parks in 10 Vietnam localities, garnering $18.7 billion in investments for 866 projects, creating 300,000 jobs.