Vietnam and Singapore have agreed to enhance cooperation in subsea cables, finance, and energy, upgrading their relations to a "comprehensive strategic relationship." They aim to expand digital connectivity and meet the growing demand for data services, with Singapore investing heavily in Vietnam.
Vietnam and Singapore have agreed to bolster their cooperation in several key areas, including subsea cables, finance, and energy. The partnership, which marks the highest level of relations between the two nations, was solidified during a visit by Vietnam's Communist Party Chief, To Lam, to Singapore on Wednesday.
The two countries have established a "comprehensive strategic relationship," joining Malaysia and Indonesia as Southeast Asian nations with which Vietnam shares this upgraded bond. The leaders of both countries witnessed the exchange of six agreements, including those focused on undersea cable development, digital connectivity, and cross-border data flows.
As Southeast Asia serves as a vital junction for cables connecting Asia to Europe, Vietnam is planning to launch 10 new submarine cables by 2030 to meet the growing demand for AI services and data centres. In December, Singapore’s Keppel and Vietnam’s Sovico Group began discussions to enhance the region’s data infrastructure.
Additionally, the leaders addressed green development, industrial park expansion, and regional peace. Singapore also pledged to support Vietnam’s financial sector growth, underscoring its role as a major investor in Vietnam, contributing $10.21 billion in foreign investments last year.
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