Hanoi (VNA) - The upcoming official visit to Singapore by Member of the Political Bureau and Standing Member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee Tran Cam Tu is expected to create fresh momentum to turn the two countries’ major orientations into concrete, breakthrough cooperation programmes and projects that generate long-term value, with small- and medium-sized enterprises (SMEs) playing an important role in implementation.
From the Digital Economy-Green Economy Partnership to connectivity programmes between Enterprise Singapore and Vietnam’s Ministry of Science and Technology, policy mechanisms are no longer merely on paper but have become practical resources, creating a secure and favourable legal framework for businesses.
At a recent event on data, Singaporean Minister for Digital Development and Information Josephine Teo highlighted the importance of partnership in building a trusted data and artificial intelligence (AI) ecosystem.
She said that whether in Singapore or elsewhere, there is always a need for a strong community of businesses, technology providers, researchers, practitioners, standards organisations and regulators. When these stakeholders work together, they can learn from one another, test ideas and raise standards together
In an interview with Vietnam News Agency correspondents in Singapore about the role of Vietnamese Government in promoting business development, Ernie Koh, Vice Chairman of the Singapore Business Federation’s Southeast Asia Business Group, said the Vietnamese Government had been very proactive in supporting the private sector and thereby promoting the development of the entire economy.
Having worked in Vietnam for 33 years, he said he has witnessed significant progress, particularly in the SME sector, citing policies on industrial park development, green lanes and expedited customs clearance procedures, among others.
The alignment in the two countries’ leaders’ macro-level vision has given businesses greater confidence to enter the global marketplace. Vietnamese SMEs are showing an unprecedented determination to transform, proactively seeking and adopting core technologies such as AI, big data and cloud computing from Singapore to optimise production processes.
Meanwhile, Singaporean startups and SMEs see Vietnam as a “promising land” with a dynamic domestic market and a young workforce that is highly responsive to technology.
At a recent ASEAN forum in Singapore, the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade and Meta Platforms Inc. signed a memorandum of understanding (MoU) to implement specific cooperation programmes.
Vietrade Director Vu Ba Phu said the two sides would focus on training Vietnamese SMEs, cooperatives and household businesses to use smart tools on Facebook and other Meta platforms to develop their businesses, promote trade and access markets.
He stressed that as AI becomes a growth driver, a development tool and an indispensable element of the future, Vietnamese SMEs’ ability to effectively use AI tools would bring significant benefits to their business operations and trade promotion activities.
Shanti Alexander, Meta’s Director of Policy Programmes and Campaigns for the Asia-Pacific region, said the partnership with Vietrade formalised their shared commitment to supporting businesses.
She said the focus was on enhancing digital capabilities for trade promotion agencies, businesses, cooperatives, household businesses and industry associations, while providing practical everyday skills that businesses could apply, from creating effective content to better engage customers to optimising AI in business and reaching new markets.
Clearly, government support, together with policies promoting science and technology, innovation and digital transformation, is turning cross-border partnerships among Vietnamese and Singaporean SMEs into a powerful driver of breakthrough growth, opening a new chapter of shared prosperity for the two countries and the region./.
