Singapore PM Lee Hsien Loong to visit Vietnam

By Ngoc Anh   August 23, 2023 | 10:44 pm PT
Singapore PM Lee Hsien Loong to visit Vietnam
Singapore's Prime Minister Lee Hsien Loong speaks during a press conference at the Istana in Singapore, July 17, 2023. Photo by Singapore Press Holding Media Trust/Lianhe Zaobao/Ray Chua via Reuters
Singaporean Prime Minister Lee Hsien Loong and his wife Ho Ching will officially visit Vietnam from Aug. 27 to 29.

The visit, per an invitation by Prime Minister Pham Minh Chinh, will be a highlight of the 50th anniversary of Vietnam and Singapore establishing diplomatic relations, and the 10th anniversary of the two countries establishing strategic partnership, according to the Ministry of Foreign Affairs.

Singapore is among the top economic partners for Vietnam in the region, and the two countries have always been among each other's top 15 trade 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 into Vietnam, with 3,273 projects and a total capital at $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.

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