Top legislator’s Singapore trip comes at the right time: expert

Granting an interview to the Vietnam News Agency’s correspondents in Singapore, Khuong said that the two countries and their parliaments in particular see extremely special potential for collaboration. Firstly, the nations share significant similarities in their political systems, allowing the implementation of long-term cooperation strategies.

Secondly, he stressed that the potential for synergy between the two countries is immense. Singapore is a successful example of rapidly transitioning from a third-world to a first-world nation in a very short period, while Vietnam currently has great potential and momentum to reach the status of a first-world country within the next two decades. Therefore, enhancing bilateral cooperation will accelerate Vietnam’s progress into a new era, helping it soon become a developed nation. At the same time, Singapore will also benefit greatly from Vietnam's development, further strengthening its position as a leading power in Asia and the world. Last but not least, the growing strategic trust between the two countries, as well as the possibility of upgrading their relationship to a Comprehensive Strategic Partnership will open up vast collaboration opportunities for both nations, the scholar emphasised.

Regarding the top legislator’s visit, Khuong stated that this is a practical channel for both sides to exchange experience in building a legal and policy system that is more scientific, concise, simple, and easy to understand.

According to him, Vietnam's upcoming streamlining of its apparatus must begin with the legal framework. Therefore, the trip will undoubtedly provide valuable legal experience to lay the foundation for building an efficient public administration system, helping develop human resources, from senior officials to younger generations, with the goal of fostering generations of elite leaders who will drive the changes of the era. Additionally, the legal framework will help promote the economy, especially as Singapore needs Vietnam in two areas: green energy and food security, while Vietnam greatly values opportunities in Singapore, particularly for attracting foreign investment.

Therefore, Man’s visit to Singapore comes at a very opportune time, just before Vietnam prepares for significant reforms in the coming time, the expert stressed.

Commenting on the potential for bilateral investment cooperation, Khuong highlighted that if the two countries connect with each other, they will form a unified economic entity for attracting foreign investment, particularly in high-tech industries such as new energy, semiconductors, and biotechnology./.