Since Vietnam and Singapore established diplomatic relations in 1973, the two
Asean countries have leveraged complementary strengths for synergistic growth, creating significant opportunities for collaboration.
Singapore’s Competitive Edge:
- Top FDI Source: Vietnam’s largest foreign investor in 2024
- Global Expertise: Proven leadership in governance, urban planning, finance, and innovation
- World-Class Institutions: Strong capabilities in education, healthcare, logistics, and the digital economy
Vietnam’s Strategic Advantages:
- Young and Dynamic Workforce: Over 100 million people, with a growing STEM talent pool
- Rapid Economic Modernisation: Increasing demand for urban solutions, digital transformation, and leadership development
- Agricultural and Energy Potential: Abundant resources that can enhance Singapore’s food and energy security
Indeed, harnessing the synergy between Vietnam and Singapore by leveraging their distinctive strengths could unlock immense benefits, creating a virtuous cycle of value creation — where opportunities lead to new opportunities, and successes fuel further successes.
The following are key areas where the two countries have shaped their strategic cooperation.
Strengthening Vietnam’s Leadership Pipeline
Since launching its
economic reforms in 1986, the Communist Party of Vietnam (CPV) has actively integrated global best practices into its governance and economic strategies. A key initiative in this effort is a workshop-style training programme designed to prepare high-ranking party officials for Central Committee membership at the National Party Congress (NPC), which is held every five years.
This initiative, officially known as the
Program for Updating and Enhancing Knowledge for Strategically Planned Personnel, aims to equip participants with up-to-date knowledge and critical insights into the global political landscape, Vietnam’s economic development strategy, institutional reforms, and international best practices from successful nations.
Participants, typically holding Vice-Ministerial equivalent positions at the central or provincial level, undergo rigorous selection based on age, performance, and leadership potential, as they are considered strategic successor personnel. Election to the Central Committee, comprising approximately 180 members, represents a major political elevation, as it holds ministerial rank within Vietnam’s political system.
The programme is conducted in 4–6 batches over 12 months, beginning 18 months before the NPC. Each batch, enrolling 50–60 participants, is organised by the Ho Chi Minh Academy of Politics (HCMA) and spans six weeks. The first five weeks take place at HCMA, where participants reside on campus full-time. The final week is dedicated to an overseas study tour in carefully selected countries. In previous NPC cycles, these destinations have included Japan, South Korea, France, and Israel.
The inclusion of Singapore as a key destination for the upcoming 14th NPC (scheduled for the first quarter of 2026) marks a significant milestone in the deepening ties between Vietnam and Singapore. It also signals an increasing strategic alignment between the two nations. The training programme in Singapore, known as the Potential Leaders Program (PLP), is hosted by the Institute of Governance and Leadership (IGL) at the Lee Kuan Yew School of Public Policy (LKYSPP). It is supported by Temasek Foundation as well as the Advance Asia Leadership Fund.
The first two PLP cohorts, held at LKYSPP from 26–31 August and 26 November–1 December 2024, received outstanding evaluations. Participants particularly valued insights from distinguished Singaporean leaders, including ESM Goh Chok Tong, Minister of Education Chan Chun Sing, former Minister Yacob Ibrahim, and former Head of Civil Service Lim Siong Guan.
The programme’s success has reinforced Singapore’s role as a key partner in Vietnam’s leadership development. With the third cohort scheduled for June 2025, these programmes play a pivotal role in cultivating a new generation of Vietnamese leaders equipped with expertise in economic policy, governance, and institutional reform.
The recent political turbulence in Vietnam — marked by the appointment of its fourth president within 18 months — once unimaginable, has paradoxically reinforced the country’s political stability. This resilience stems from the leadership’s deepened commitment to ushering in a new era of national ascent, driven by bold and unprecedented institutional and economic reforms.
With overwhelming support for his vision and reform agenda, the General Secretary of the CPV has laid out clear strategies to transform Vietnam into an upper-middle-income country by 2030 and a developed nation by 2045. As part of this vision, an unprecedented restructuring of the political system is underway, with a sharp focus on streamlining governance to enhance efficiency and effectiveness.
Unlocking Economic Opportunities Through Strategic Collaboration
Singapore’s economic footprint in Vietnam is extensive, with cumulative investments exceeding US$81 billion across 3,800 projects as of 2024. Notably, Singapore was Vietnam’s largest foreign investor in 2024, injecting over US$10 billion in foreign direct investment (FDI). Singapore also stood out as a steadfast economic partner during the COVID-19 pandemic (2020–2022), maintaining high investment levels when global FDI flows declined.
A cornerstone of this economic relationship is the Vietnam-Singapore Industrial Parks (VSIPs), which have attracted US$15 billion in investment and generated 250,000 jobs. As Vietnam’s economy continues its rapid expansion, Singapore’s expertise in urban planning, the digital economy, and financial services positions it as an indispensable partner.
Another prime example of potential value from Vietnam-Singapore collaboration lies in the agriculture sector. Vietnam’s agricultural exports surged to US$62.5 billion in 2024, an 18% increase from 2023. As a trusted gateway to high-standard global markets, Singapore can help Vietnamese exporters enhance quality control, branding, and market access. Even a modest 5% increase in the export value of just 10% of Vietnam’s agricultural products could generate an additional US$312 million in revenue.
The upcoming visit of General Secretary Tô Lâm to Singapore scheduled on 11–12 March 2025, will mark a defining moment in bilateral relations, formalising the transition to a comprehensive strategic partnership. This milestone, coinciding with Singapore’s 60th anniversary and Vietnam’s 80th year of independence, presents an opportune moment to launch the
60-80 Partnership Initiative. This initiative is expected to drive collaboration in semiconductors, renewable energy, urban solutions, and digital transformation.
Conclusion
The elevation of Vietnam-Singapore relations to a comprehensive strategic partnership in 2025 marks a new era in bilateral cooperation. From the
Potential Leaders Program to strategic economic initiatives and the
60-80 Partnership, the collaboration between these two nations is unlocking unprecedented opportunities.
Beyond trade, S
ingapore’s remarkable transformation from a developing nation to a first-world economy offers valuable insights for Vietnam’s long-term development. By deepening cooperation in economic reform, infrastructure development, and digital transformation, the Vietnam-Singapore partnership can serve as a regional model for sustainable prosperity.
By leveraging each other’s strengths, Vietnam and Singapore can forge a mutually beneficial alliance, driving sustainable growth, fostering innovation, and shaping regional leadership in the 21st century.