Prime Minister Pham Minh Chinh suggested to increase the number of the Vietnam–Singapore Industrial Parks (VSIPs) to 30 in 2026 to mark 30 years since the first VSIP was launched in Vietnam, during phone talks with his Singaporean counterpart Lawrence Wong on February 10.
He proposed to upgrade the VSIPs to a second-generation model integrating industry with services, high technology and eco-urban development.
PM Chinh welcomed the continued positive growth in bilateral trade in 2025, which increased by 12% compared to 2024. He suggested that Singapore further increase imports of Vietnam's agricultural products and effectively implement the memorandum of understanding on rice trade to help ensure food security.
He called on the two sides to strengthen cooperation in developing financial and banking infrastructure, particularly digital infrastructure, payment systems, cross-border payments, digital identification and cybersecurity. He encouraged Singaporean banks, investment funds and fintech companies to expand long-term investment in Vietnam.
For his part, the Singaporean Prime Minister expressed confidence in Vietnam's strong growth potential and reaffirmed Singapore's commitment to expanding investment in the country, including increasing the number of VSIPs.
Google translate