A Vietnam Forum to be held by the Institute of Southeast Asian Studies (ISEAS) in Singapore on October 30 will provide some insight about the policy making process as well as business and trade opportunities in Vietnam , said a forum presenter.

Talking with Vietnam News Agency’s Singapore-based reporter ahead of the forum, Dr. Aekapol Chongvilaivan, fellow of ISEAS’s Regional Economic Studies Programme, said the Vietnam Forum is especially marked the 40th anniversary of the Vietnam-Singapore diplomatic relations.

Since its inception in 1973, the friendship between the two countries has grown hand in hand in terms of trade and investment. Singapore is the second largest trading partner to Vietnam.

Vietnam served as an investment destination for Singapore companies. At the same time, the country also sees Singapore as a catalyst for economic development and urbanisation, including industrialisation.

“Over the past 40 years we have seen an increase in bilateral relations not only in political relations but also in economic and social collaborations,” he said. “So many reforms had been implemented in Vietnam . These have drawn significant interest among the public.”

“We have seen development in Vietnam recently in terms of economy, education reforms and financial reforms. Nevertheless, the reforms will not be trouble free. There are many obstacles to development and therefore the Vietnam Forum is being organised to look at challenges.”

Aekapol, one of presenters at the forum, the event will also provide some insight into the policy making process as well as business opportunities that emerge in the country.

About the impact of the Vietnam - Singapore Strategic Partnership agreement, he said that under the initiative, Singapore and Vietnam governments will sit down together to set out future plans for mutual agreements as well as mutual plans to strengthen economic and political relationships.

“It’s very important to the business sector that will build confidence as well as optimism about investment and business opportunities in Vietnam . And definitely that will be mutual benefits between the two countries.”


On Vietnam ’s external economic policies, Aekapol said that the more significant milestone for Vietnam ’s international economic relationship with global economy is perhaps its access to the World Trade Organisation (WTO).

Vietnam has emerged in the ASEAN as an investment destination after Asia financial crisis in 1997. After that, there have been tremendous potentials in Vietnam and it has substantial impacts on foreign investment and international trade volume in Vietnam .

So with the access to the WTO, Vietnam is very serious to be part of global economic community and it wants to liberalise in terms of trade, investment and be serious about sustainable development in the country.

“To that extend, I think it is perhaps something that is very important to ASEAN because it will strengthen the ASEAN enthusiasm,” he noted.

He described Vietnam ’s entering into Trans-Pacific Partnership (TPP) negotiations as beneficial for Vietnam and Singapore who are members of the TPP.

“By being the membership of the TPP, Vietnam will have to negotiate in something like WTO plus negotiations with broader and deeper than ASEAN negotiations,” said Aekapol.

He expected that Vietnam will push forward in many ambitious areas like intellectual property rights, investment protection, service sector, saying that it will be beneficial for Singapore and Vietnam and also good for ASEAN as a whole.-VNA