Economic Diplomacy: Solid Foundation for Elevating Vietnam-Singapore Relations
	Argentine Media Speak Highly of Vietnam's Efforts in Economic Diplomacy

Ambassador Nguyen Duc Hung, Vice President and Secretary General of the Viet Nam-Singapore Friendship Association speaks at the scientific seminar “People-to-people diplomacy in the new phase of national development,” on March 3, 2025. (Photo: Dinh Hoa)

Connecting and promoting economic and trade cooperation

In recent years, VSFA’s economic diplomacy activities have focused on three major objectives: promoting investment and business opportunities in Viet Nam amid its emergence as a regional hub for production and innovation; supporting Vietnamese enterprises in expanding into international markets through economic and trade exchanges; and actively contributing to attracting high-quality, high-tech foreign investment to serve the development of a green and digital economy.

The Association emphasizes its role as a bridge, helping connect the two economies by strengthening ties between business communities on both sides and vigorously promoting trade and investment exchanges, thereby practically supporting the socio-economic development programs of each country. Particularly for localities and small- and medium-sized Vietnamese enterprises, this represents a necessary and appropriate channel for cooperation.

Trade, investment, and business promotion forums organized by the Association in coordination with partners in Viet Nam and Singapore consistently attract hundreds of Vietnamese and Singaporean enterprises, becoming a trusted platform for connecting and promoting economic and trade relations. Through these activities, the Association creates opportunities for government agencies, scientists, experts, and professional associations to accompany businesses and investors, receive their needs, and continuously improve the favorable environment for investment and business activities.

Building a broad partnership network

Aligning its activities with the country’s priority socio-economic development programs, VSFA has successfully built an extensive network of partners in both Viet Nam and Singapore, effectively mobilizing this network’s strength to implement numerous meaningful programs.

Key partners include: the Embassy of Singapore in Viet Nam, the Consulate General of Singapore in Ho Chi Minh City, the Embassy of Viet Nam in Singapore, the Singapore International Foundation (SIF), the Singapore Manufacturing Federation (SMF), the Enterprise Singapore agency under the Ministry of Trade and Industry, the Sing-Viet Impact Ventures (SVIV); the Viet Nam Union of Friendship Organizations and local branches of the Viet Nam-Singapore Friendship Association in Hanoi, Ho Chi Minh City, Hai Phong, Vinh Phuc, Can Tho, Binh Duong, Dong Nai; professional associations and business clubs; as well as Vietnamese and Singaporean enterprises.

Through this network, the Association has leveraged its role as an organization to mobilize and engage widely agencies, organizations, businesses, experts, and citizens from both countries in activities promoting friendship and development cooperation.

Launch ceremony of the Social Enterprise Innovation Supporting Program initiated by the Viet Nam-Singapore Friendship Association, October 22, 2024. (Photo: Dinh Hoa)

Supporting social enterprises for innovation

Recognizing that supporting start-ups and innovation is a key policy of the Party and State, VSFA proactively launched the Social Enterprise Innovation Supporting Program (SEIP) in October 2024 in Hanoi, with continued implementation through 2025.

SEIP aims to strengthen innovation capacity, develop branding, and expand markets for Vietnamese social and ecological enterprises, through a model combining Training - Coaching - Certification - Networking - Showcase at Techfest Vietnam at the end of 2025 in Hanoi. The long-term goal of the program is to create a network of sustainable Vietnamese social enterprises capable of innovation and competitiveness in the market.

All training, coaching, and Innovation Fellow activities are conducted 100% online via Zoom, Google Drive, Zalo, and email, allowing enterprises from all regions to access learning, networking, and development opportunities. SEIP is an initiative pioneered by VSFA, supported by the Ministry of Science and Technology, in collaboration with the Institute for Innovation and Development (IID) and domestic and international partners.

SEIP 2025 is not only a program but also a community for collective learning and growth, where the spirit of innovation is closely linked with humanitarian values and cooperation, promoting Vietnamese social and ecological enterprise models to both domestic and international markets.

Expanding people-to-people exchanges

Alongside economic activities, VSFA has always emphasized expanding people-to-people exchanges across culture, education, tourism, and sports. In 2017, the Association signed a Cooperation Agreement with the Singapore International Foundation under the witness of the two countries’ Prime Ministers, establishing a legal framework facilitating rich and diverse people-to-people exchange activities.

Prime Minister Pham Minh Chinh and Prime Minister Lawrence Wong witness the signing of the Memorandum of Understanding between the Viet Nam-Singapore Friendship Association and the Singapore International Foundation, March 26, 2025. (Photo: Government Newspaper)

Notably, on the occasion of Singaporean Prime Minister Lawrence Wong’s visit to Viet Nam in early 2025, the Association and the Singapore International Foundation signed a five-year extension of the Cooperation Agreement, strengthening a sustainable legal foundation and encouraging all mutually beneficial cooperative efforts between the two sides.

Towards a “Partners for a new era”

Entering 2025, VSFA, in coordination with the Embassy of Singapore in Viet Nam, officially launched the Viet Nam-Singapore Logo “Partners for a New Era.” The logo symbolizes the comprehensive strategic partnership between Viet Nam and Singapore, marking a meaningful beginning to a year featuring multiple high-level visits and new cooperative initiatives.

The slogan “Partners for a new era” conveys a message of a brighter future and more sustainable cooperation between the two nations, with people-to-people relations continuing to serve as a solid foundation for achieving greater goals.

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