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Despite of the current economic slowdown, Viet Nam is still an attractive investment destination for Singapore companies, visiting Singapore Minister Mentor Lee Kuan Yew said in Hanoi on April 15.

He said this during a meeting with Vietnamese Prime Minister Nguyen Tan Dung.

Mr. Lee added he would continue to call on Singapore companies to boost economic, trade and investment cooperation with Vietnam.

PM Dung urged Singapore to encourage its businesses to increase investments in Vietnam and facilitate the flow of Vietnamese exports to the island country.

The Vietnamese government leader applauded Singapore’s retaining of its position as one of the leading trade and investment partners of Vietnam.

He spoke highly of valuable contributions and special sentiments Mr. Lee has extended towards Vietnam as well as the development of the friendship and comprehensive cooperation between the two nations.

The PM briefed his guest about Vietnam’s socio-economic development and a number of major solutions the Vietnamese government has taken to weather economic challenges and maintain growth.

Mr. Lee, who is on a five-day visit to Vietnam beginning April 13, praised the country’s recent socio-economic achievements, expressing his belief that, with its efforts and resolve, Vietnam will successfully overcome adverse impacts of the global financial crisis to maintain stability and growth.

The minister shared his government’s experiences and measures to tackle the ongoing economic slowdown and prepare for post-crisis development.

Both host and guest noted with pleasure the rapid progress in friendly and cooperative ties between Vietnam and Singapore, particularly in the fields of politics, economy, trade, investment, education and training, tourism, finance and transport.

The two leaders said they were delighted at the deployment of the agreement regarding Vietnam-Singapore linkages, and highly appreciated the efficient operation of the two Vietnam-Singapore Industrial Parks in the southern province of Binh Duong, as well as the application of this model in Bac Ninh Province and the port city of Hai Phong, both in the north.

Mr. Dung and Mr. Lee agreed to maintain close cooperation between Vietnam and Singapore at regional and international forums, including the Association of Southeast Asian Nations (ASEAN), the Asia-Pacific Economic Cooperation (APEC) Forum and the United Nations. (Sai Gon GP)