Singapore Prime Minister Lee Hsien Loong arrived in Hanoi on Sunday afternoon, starting his three-day visit to Vietnam at the invitation of his Vietnamese counterpart Pham Minh Chinh.
The plane carrying the Singaporean PM landed at Noi Bai airport on Sunday afternoon.
His official visit to Vietnam is a highlight of the 50th anniversary of Vietnam and Singapore diplomatic relations, and the 10th anniversary of the two countries’ strategic partnership.
Singapore Prime Minister Lee Hsien Loong (2nd, L)) at Noi Bai Airport in Hanoi on August 27, 2023.
Lee is expected to hold meetings with Vietnamese leaders and witness the signing of documents between the two countries.
Vietnam and Singapore established diplomatic relations in 1973 and elevated the relationship to a Strategic Partnership in 2013.
Singapore is Vietnam’s leading economic partner in the region. The two countries are always in the group of each other's 15 largest trading partners, with Vietnam now being Singapore's 12th largest trade partner and Singapore being Vietnam's 15th.
Singapore ranks first in ASEAN and second globally when it comes to investments in Vietnam, with 3,273 projects and a total capital of $73.4 billion.
Bilateral trade turnover between the two countries reached $9.15 billion in 2022, an 11.57% increase from 2021.
Vietnam-Singapore industrial parks have become a symbol of economic cooperation between the two countries, with 14 such parks in 10 Vietnam localities, garnering $18.7 billion in investments for 866 projects, creating 300,000 jobs.