PM Lee Hsien Loong at the Official Dinner Hosted in Honour of the General Secretary of the Communist Party of Vietnam Nguyen Phu Trong

Your Excellency General Secretary Nguyen Phu Trong
Excellencies
Distinguished Guests
Ladies and Gentlemen

It gives me great pleasure to welcome Your Excellency and your distinguished delegation to Singapore.

Vietnam and Singapore share a long and close friendship. Almost 20 years ago in 1993, we welcomed General Secretary Do Muoi to Singapore. His visit was the first by a CPV General Secretary after our two countries established diplomatic relations in 1973. Much has happened since then. Southeast Asia has prospered, and Vietnam has taken off. I have visited Vietnam often, most recently in 2010. Each time I am impressed by the changes since my previous visit. Credit must go to the efforts of your government, and the determination and drive of the Vietnamese people.

Our bilateral relations have also improved significantly. The past twelve months have been particularly fruitful. Apart from your Excellency’s current visit, we hosted President Truong Tan Sang last September, and President Tony Tan visited Vietnam this April. Both our Presidents chose to visit each other for their inaugural State Visits, reflecting our close friendship.

We cooperate closely at all levels. Economic and business links continue to deepen. Bilateral trade in the first seven months of 2012 rose 13% year-on-year to almost S$10 billion. Singapore is also Vietnam’s fourth largest foreign investor, with investments in electronics, housing, healthcare, ports and other areas. Our Connectivity Framework Agreement is now in its seventh year. It is an excellent platform to further our economic cooperation, including between our private sectors.

Our G-to-G projects have also done well. We launched our first VSIP in 1996 in Binh Duong province. 16 years on, I am pleased that we are now planning for the 5th VSIP. These industrial parks are tangible symbols of our close and growing economic ties. They have enabled us to share some of Singapore’s developmental experience with Vietnam. I am glad that the Vietnamese government has found the parks useful and replicated them throughout your country.

We are deepening existing forms of cooperation and venturing into new partnerships. During Deputy Prime Minister Teo Chee Hean’s recent visit to Vietnam, we renewed the Cooperation Arrangement in Preventing and Combating Transnational Crimes. Our defence ties are also growing. We signed the Defence Cooperation Agreement in 2009, and cooperate closely at multilateral forums such as the ASEAN Defence Ministers Meeting (ADMM) and ADMM-Plus.

This evening we signed a Memorandum of Understanding on financial cooperation, and an Agreement on the training of CPV officials. These agreements reflect the comprehensive and broad-based nature of our friendship.

Our people-to-people exchanges are also expanding. Singapore hosts a lively and growing Vietnamese community. We are proud to welcome many students to our public schools and universities. Many excel academically and contribute much to our society. I highlighted one such Vietnamese student during my National Day Rally this year. There are many more Vietnamese like her.

As we celebrate the 40th anniversary of bilateral relations next year, I look forward to elevating our relationship to that of a Strategic Partnership. This will cement the existing links between Vietnam and Singapore and renew our commitment to closer cooperation.

Vietnam and Singapore also enjoy a constructive partnership within ASEAN and other international fora. We agree on the importance of peace and stability to Southeast Asia’s continued progress. Our two countries are committed to an integrated ASEAN community by 2015, in order to achieve our common goal of a peaceful, prosperous and more integrated Southeast Asia.

Distinguished guests, friends, ladies and gentlemen

May I now invite you to rise and join me in a toast:

• To the good health and continued success of His Excellency General Secretary Nguyen Phu Trong,

• To the peace, progress and prosperity of the people of Vietnam, and

• To the enduring friendship between Singapore and Vietnam.