Strengthening Singapore-Vietnam economic ties

The Year of the Fire Horse symbolises energy and decisive action.

- By Rajpal Singh Ambassador of Singapore to Vietnam

These qualities mirror the economic relationship between Singapore and Vietnam.Our two countries have been steadfast partners in areas such as manufacturing, industrial development, retail and trade. With the upgrade of bilateral relations to a comprehensive strategic partnership during Party General Secretary To Lam's visit to Singapore in March 2025, Singapore and Vietnam are now charting a path towards economic cooperation in new and emerging areas such as green energy, digital cooperation, and human capital development.

Singapore's commitment to Vietnam's economic journey has remained strong throughout the years. The historic rapport we share was reflected in the close relationship between Singapore's founding Prime Minister Lee Kuan Yew and Vietnam's former Prime Minister Vo Van Kiet. In the 1990s, Prime Minister Kiet's invitation to PM Lee Kuan Yew to share his perspectives on economic modernisation laid the bedrock of the strategic trust enjoyed by our two nations today.

Over the years, the economic relationship has flourished and grown from strength to strength. Singapore was the top source of foreign investments into Vietnam in 2025, with total investment of more than $9 billion. Vietnam is Singapore's 10th largest trading partner globally, and fourth-largest among ASEAN countries.

Singapore companies have been very positive on Vietnam's economic potential. A number of them have laid down deep roots in Vietnam. Singapore companies like Sembcorp, CapitaLand, SEA Group, Grab, Keppel, and UOB reflect the diverse sectors that Singapore investment has reached in Vietnam. Many of them have become household names.