Hanoi (VNA) – The Vietnamese Ministry of Finance and the Singaporean Ministry of Trade and Industry co-hosted the 19th Connectivity Ministerial Meeting (CMM) between the two countries in Hanoi on October 10, the first bilateral conference since the launch of the Comprehensive Strategic Partnership in March.
In his speech, Vietnamese Finance Minister Nguyen Van Thang described the CMM as a substantive high-level dialogue mechanism aligned with both countries’ long-term and comprehensive vision. He stressed its role in deepening collaboration in trade, investment, energy, science-technology, digital transformation, infrastructure and human resources while fostering strategic connectivity amid growing global and regional uncertainties.
Thang reported that foreign direct investment (FDI) in Vietnam reached over 28.5 billion USD in the first nine months, up 8.5% annually. Singapore remains Vietnam’s second largest foreign investor with 4,226 projects worth 87.6 billion USD as of August 31. Meanwhile, Vietnamese investment in Singapore has grown to 190 projects valued at 685 million USD.
Vietnam’s priority areas for cooperation include investment; agricultural trade; sustainable development; tourism; infrastructure, particularly construction, transport, and energy; information technology; education, especially quality workforce training; innovation; digital transformation; and finance, he said.
Singapore’s Second Minister for Trade and Industry and Minister for Manpower Tan See Leng highlighted the establishment of the Singapore Investment Unit (SIU) in Vietnam as a one-stop hub for Singaporean firms seeking opportunities here. He also announced the launch of the Innovation and Talent Exchange Programme (ITES).
He described the meeting as evidence of both nations’ commitment to openness and connectivity, which serves as a stepping stone for stronger collaboration in economy, industry, energy, and innovation. Tan also called for further bolstering cooperation in key areas.
The ministers explored new cooperation proposals in investment, agricultural trade, transport, construction, infrastructure, and energy. They welcomed Singapore’s continued role as Vietnam’s second largest investor, citing projects like the third phase of Keppel’s Saigon Centre and Shopee’s fourth automated sorting centre in Hung Yen province as major contributors to economic ties.
On agricultural trade and sustainable development, the meeting hailed Singapore’s approval of Vietnam’s heat-treated poultry exports starting in March 2025 and the signing of an agreement on implementing Article 6 of the Paris Agreement on September 16, signaling a strong commitment to sustainable development and green transition. The two sides also applauded the establishment of a joint agri-food task force between the Vietnamese Ministry of Agriculture and Environment and the Singapore Food Agency to boost agricultural trade.
In energy and transport, both sides finalised a joint report on offshore wind power cooperation and reaffirmed the importance of a direct Vietnam – Singapore undersea cable, a “backbone” of Singapore’s low-carbon energy import strategy. Vietnam proposed expanding the bilateral Air Services Agreement to include fifth-freedom cargo rights, aiming to establish itself as a regional air logistics hub and attractive tourism destination.
In digitalisation and innovation, progress in the Innovation Talent Exchange (ITX) programme and labour cooperation was praised, with new programme criteria opening avenues for talent and knowledge transfer.
The meeting reviewed initial results and future plans in tourism, information and communications technology, education and manpower training, and financial markets, helping reinforce the Vietnam – Singapore Comprehensive Strategic Partnership in an increasingly substantive and effective manner.
The 20th CMM will be hosted by Singapore under the rotating mechanism.
At the meeting, three cooperation agreements were handed over, including an amended investment certificate for Saigon Centre Phase 3 between Ho Chi Minh City authorities and Keppel, and a digital transformation action plan between Grab and Da Nang city. Separately, Vietnam’s T&T Group, Singapore’s YCH, and Phu Tho province launched an off-airport cargo terminal, a key component of a multimodal logistics hub offering customs clearance, security screening, storage, unit load devices (ULD) handling, and airside transport services./.
VNA
