Singapore to expand VSIP presence in Vietnam to 30 parks

According to baochinhphu.vn, during the call on April 16, Prime Minister Le Minh Hung said Vietnam is preparing new policies to attract more foreign investment, including from Singapore.

He also called for Singapore's support in developing international financial centres and expanding next-generation Vietnam-Singapore Industrial Parks (VSIPs) linked to high‑technology transfer.

PM Wong expressed strong agreement with these assessments and proposals, reaffirming Singapore’s commitment to strengthening ties with Vietnam and its readiness to implement agreed areas of cooperation.

He also highlighted the importance of enhancing high-level exchanges and expanding collaboration in economic, defence-security, and other fields, contributing to regional peace, stability, and development.

PM Wong also announced that Singapore plans to increase the total number of VSIPs in Vietnam to 30 by the end of 2026, marking the 30^th anniversary of the project’s successful presence in the country.

He reaffirmed Singapore’s commitment to supporting Vietnam in human resource development, particularly for strategic-level officials, through new training agreements and the expansion of the Singapore Cooperation Programme to localities across Vietnam.

He also expressed confidence in the continued strong development of bilateral ties and highlighted the ambition to create innovations in areas such as carbon credit exchange and cooperation on food security.

Both prime ministers agreed to further strengthen political trust, enhance high-level exchanges and engagements at all levels, and maintain the effectiveness of existing cooperation mechanisms, including the annual meeting mechanism between the two leaders. They also agreed to soon implement a Strategic Dialogue mechanism between the two countries in 2026 and to deepen cooperation in ensuring energy security.

Both sides reaffirmed their commitment to prioritising resources for the effective implementation of the Action Programme for the Comprehensive Strategic Partnership for 2025–2030.

The two leaders also agreed on the potential signing of an intergovernmental agreement on cross-border trade of low-carbon electricity, aimed at facilitating the export of offshore wind power from Vietnam to Singapore.

Currently, VSIP operates more than 22 IPs across 15 cities and provinces, attracting around $15 billion in investment from over 880 tenant companies from 30 countries. The model is now shifting towards attracting green and high-tech foreign investment, with a strategic focus on developing smart and sustainable IPs.

VSIP in former Binh Duong province. Photo: Le Toan

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