Vietnam and Singapore agreed to expand cooperation in science, technology, innovation, and manufacturing during a state visit by Vietnamese President To Lam.
This agreement signals a shift toward technological self-reliance for Vietnam as it seeks to integrate higher-value industries into its economy. By establishing science and technology as a core pillar of their Comprehensive Strategic Partnership, both nations aim to modernize industrial output and strengthen regional economic ties.
During the visit on May 30, 2024, President To Lam visited several key facilities, including the Singapore Rail Test Center and the A*STAR Model Factory [1, 3]. These visits highlighted the specific areas of interest for the Vietnamese leadership, particularly in automated manufacturing and transportation infrastructure [3].
A central component of the expanded cooperation is the deepening of the Vietnam-Singapore Industrial Park (VSIP) network. The two countries are expanding this network with new projects, including five new VSIP projects that have received investment certificates [2].
The partnership aims to move beyond traditional manufacturing toward next-generation economic cooperation [2]. This transition focuses on promoting innovation and scientific research to ensure that the industrial parks remain competitive in a global market [4].
President To Lam, who serves as both the Party General Secretary and State President, said science-technology is a pillar of the bilateral relationship [4]. The strategic alignment is intended to foster an environment where technological exchange can accelerate industrial growth in Vietnam while providing Singaporean firms with expanded operational footprints [1, 4].
“Vietnam and Singapore agreed to expand cooperation in science, technology, innovation, and manufacturing.”
The expansion of the VSIP network and the focus on the A*STAR Model Factory suggest that Vietnam is transitioning from a low-cost labor hub to a high-tech manufacturing center. By leveraging Singapore's technical expertise and investment certificates, Vietnam aims to reduce its dependence on basic assembly and move up the value chain in electronics and rail infrastructure.
