Minister of Industry and Trade Nguyen Hong Dien holds talks with Singapore’s Minister for Manpower, Second Minister for Trade and Industry, and Second Minister for Science and Technology Tan See Leng

During the meeting, the two ministers assessed that economic and trade cooperation between Vietnam and Singapore continues to grow substantively and comprehensively, remaining one of the key pillars of the bilateral relationship. Both sides affirmed that following the official visit of General Secretary To Lam to Singapore in March 2025, during which the two countries elevated their ties to a Comprehensive Strategic Partnership, bilateral cooperation has entered a new phase of deeper and more effective collaboration. In that spirit, the two ministers agreed to continue close coordination in implementing priority areas of cooperation, particularly in energy, industry, trade, and science and technology.

Attending the meeting on the Vietnamese side were representatives from relevant units under the Ministry of Industry and Trade (MOIT), including the Department of Foreign Market Development, the Department of Multilateral Trade Policy, the Department of Oil, Gas and Coal, the Electricity Regulatory Authority, the Agency of Foreign Trade, the E-commerce and Digital Economy Agency, the Agency for Industry, the Trade Promotion Agency, the Agency for Innovation, Green Transition and Industrial Promotion, the Ministry’s Office, and the Institute of Strategy and Policy on Industry and Trade.

The Singaporean delegation was led by Minister Tan See Leng and included Singapore’s Ambassador to Vietnam Jaya Ratnam and representatives from key departments of the Ministry of Trade and Industry (MTI), such as the Southeast Asia and Oceania Directorate, the Energy Division, Enterprise Singapore, the Infrastructure Asia Office, and the Singapore Economic Development Board (EDB).

The two ministers held in-depth discussions on the project for exporting renewable energy from Vietnam to Singapore, including both direct transmission (Vietnam–Singapore) and indirect connection options through a third country. Minister Nguyen Hong Dien emphasized that this is a project of strategic significance, not only for bilateral cooperation but also for the development of an integrated ASEAN power grid.

The Vietnamese side noted that under the updated National Power Development Plan (PDP VIII), Vietnam aims to export between 5 and 10 GW of electricity to Singapore, Malaysia, and other partners by 2035, ensuring economic efficiency and energy security. Both sides agreed to work closely at the technical level to study the legal, financial, and technical frameworks for the project, while exploring the possibility of establishing specific interconnection agreements between Vietnam, Malaysia, and Singapore in the near future.

In addition, the two ministers welcomed progress in the negotiation of a Memorandum of Understanding (MoU) on rice trade cooperation between the Governments of Vietnam and Singapore. Minister Nguyen Hong Dien emphasized that the signing of the MoU would contribute to strengthening Singapore’s food security while expanding sustainable market opportunities for Vietnamese rice. Both sides agreed to complete the necessary procedures to finalize and sign the MoU soon. The Vietnamese Minister also proposed that Singapore further expand imports of other Vietnamese agricultural products such as seafood, coffee, tea, and fresh fruits, while enhancing information exchange on standards, quality control, food safety, and expert missions to support bilateral agricultural trade.

The two ministers also agreed to strengthen cooperation in electronics, semiconductors, smart energy, LNG, and to share experiences in e-commerce, SME development, digital economy, and innovation. The Vietnamese side proposed that Singapore consider supporting the development of a Halal industrial park in Vietnam, as well as facilitating deeper access for Vietnamese goods, particularly products under the Vietnam Value national brand program, into Singapore’s distribution systems and supply chains.

Both sides also agreed to promote cooperation in research and policy planning for industrial development through collaboration between the Institute of Strategy and Policy on Industry and Trade (Vietnam MOIT) and the Lee Kuan Yew School of Public Policy (Singapore). The cooperation will focus on renewable energy, green transition, supporting industries, and sustainable trade.

Minister Tan See Leng expressed strong support for the views and proposals put forward by Minister Nguyen Hong Dien and affirmed that Singapore’s relevant agencies will continue to work closely with the Ministry of Industry and Trade of Vietnam to implement these initiatives.

The meeting concluded successfully, contributing significantly to deepening the partnership between the two ministries, facilitating the expansion of bilateral economic and trade cooperation, addressing emerging issues in trade relations, and further advancing the Vietnam-Singapore Comprehensive Strategic Partnership.

At present, Singapore remains one of Vietnam’s most important economic partners, it is Vietnam’s fourth-largest trading partner within ASEAN and the second-largest foreign investor in the country. Bilateral trade between the two nations has maintained stable growth in recent years.
In 2024, total two-way trade reached USD 10.5 billion, with Vietnam’s exports to Singapore valued at USD 5.2 billion and imports from Singapore at USD 5.3 billion. In the first nine months of 2025, bilateral trade between Vietnam and Singapore reached USD 8.8 billion, up 14.1% year-on-year. Of this, Vietnam’s exports to Singapore were USD 4.34 billion (up 9.7%), while imports from Singapore totaled USD 4.46 billion (up 18.7% compared to the same period in 2024).