Sep 30, 2011

Singapore - Singapore and Vietnam's shared future


It will never be known how the communist in Ho Chi Minh, the founding father of modern Vietnam, would have felt had he known that his statue would be unveiled officially in Singapore one day. Such a sight would have been quite unimaginable during the Cold War, particularly after the Vietnamese invasion and occupation of Cambodia. Singapore played a key role in framing, driving and articulating Asean's fierce and ultimately successful diplomatic resistance to the crisis.

However, the nationalist in Uncle Ho - as he was fondly known and remains entrenched in Asian hearts to this day - would no doubt have been happy to countenance Singapore's recognition in bronze of his life and work. Both Vietnam and Singapore are creations of anti-colonial nationalism which have come together in an Asean whose contours today attest to the integrative energy of the globalised post-Cold War world. Vietnamese President Truong Tan Sang's just-concluded visit to Singapore reaffirmed those ties and provided a glimpse of the way forward.

Economic relations are flourishing. President Tony Tan Keng Yam noted in his speech welcoming President Sang that bilateral trade had increased four-fold in the past decade and had reached US$10.1 billion (S$13 billion) last year. Singapore is among the top three foreign investors in Vietnam with over 930 projects worth nearly US$23 billion. But bilateral relations go well beyond trade statistics. The Connectivity Framework Agreement, which is in its seventh year, provides the main framework in which to increase cooperation in the key areas of education and training, finance, information technology and telecommunications, investment, trade and services, as well as transportation. The momentum gained in these areas has spilled over into other areas.

As for the future of economic relations, of particular interest are the prospects of Singapore-linked industrial parks in Vietnam. Like their counterparts in China and India, these ventures are both an external wing of the Singapore economy and embody its confidence in the economic potential of the host country. Singapore and Vietnam will now study the feasibility of building an industrial park in the province of Quang Ngai. If it materialises, it will be the fifth such park to be run by the Vietnam-Singapore Industrial Park joint venture. As Vietnam's growth spreads into areas beyond the traditional core, Singapore should be present there and spur the success of one of Asia's sunrise economies.

News Desk
The Straits Times



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