Singapore, Vietnam eye closer digital ties to boost business opportunities

Minister Chan said firms need room to test and adopt emerging technologies.

Singapore and Vietnam are eyeing closer cooperation on artificial intelligence (AI), cross-border data flows, and digital economy integration to expand business opportunities.

Greater interoperability and common approaches are necessary to support such developments, according to Minister Chan Chun Sing.

“This will create opportunities for our businesses, particularly small and medium enterprises,” Chan said at the inaugural Singapore-Vietnam Strategic Dialogue on 25 August.

He pointed out that governments have a role in creating conditions for companies to test and adopt emerging technologies, adding that regulatory frameworks should manage risks without constraining innovation.

Chan also cited cybersecurity, scams, misinformation, and data protection as issues governments need to address alongside digital adoption.

The discussions come as geopolitical competition increasingly affects business decisions.

“Supply chains and investment decisions are being shaped by strategic and security considerations, beyond commercial ones,” Chan said.

AI and other emerging technologies, meanwhile, offer opportunities for productivity and growth but are also creating new risks, he added.

Chan said Singapore is amongst Vietnam’s top foreign investors, whilst the two countries already cooperate in areas including supply-chain resilience and food security.

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