HCMC – Prime Minister Le Minh Hung has proposed Singapore help Vietnam to develop its international financial center with dual hubs in HCMC and Danang City.
The proposal was made during a phone conversation on April 16 between Prime Minister Le Minh Hung and his Singaporean counterpart Lawrence Wong.
Hung proposed Singapore assist in building the Vietnam International Financial Center (VIFC) and upgrading the next-generation Vietnam-Singapore Industrial Parks (VSIP) network, reported the Vietnam News Agency.
He also shared plans to introduce new policies to attract more foreign investment, targeting investors from Singapore among others.
Wong welcomed the proposals, saying Singapore will work toward strengthening bilateral cooperation. He noted that the number of VSIP projects in Vietnam is expected to rise to 30 this year, marking 30 years since the VSIP initiative began in the country.
Singapore will continue supporting Vietnam in human resource development, including training senior officials, Wong added.
Both government leaders agreed to deepen cooperation in new areas such as carbon credit trading and food security.
They pledged to maintain high-level exchanges, strengthen political trust, and effectively implement existing cooperation mechanisms.
The two sides also discussed a potential intergovernmental agreement on cross-border trade of low-carbon electricity, creating a legal framework for Vietnam’s offshore wind power exports to Singapore.
Hung called for closer coordination within ASEAN as Singapore is set to chair ASEAN in 2027 and Vietnam will host APEC in the same year. He also proposed stronger cooperation in defense, security, and transnational crime control, alongside support for developing national data, high-performance computing, and artificial intelligence centers.
