Speech and Toast by President S R Nathan at the State Banquet hosted by President of The Socialist Republic Of Vietnam

Your Excellency President Nguyen Minh Triet and Madam Tran Thi Kim Chi
Excellencies
Distinguished Guests
Ladies and Gentlemen

        It gives me great pleasure to convey the best wishes of the people of Singapore to Your Excellency, and through you to the people of Vietnam, in this Lunar New Year of the Rat.  My wife and I are deeply touched by the very warm reception and gracious hospitality that has been extended to us and members of my delegation since our arrival.  It reminded us of the affection with which we were received and hosted in 2001 in this Capital and in Ho Chih Minh city and friendships shown towards Singapore.

Your Excellency

        Looking back at the Vietnam I visited in 2001, I must congratulate you and the people of Vietnam on the amazing transformation that has since taken place.  Vietnam is now the fastest growing economy in ASEAN.  Your 8.5% growth last year was the highest in a decade.  Vietnam has also done very well in attracting foreign investments, chalking up a record US$20.3 billion last year.  This is more than six times the amount recorded in 2001.  Vietnam’s economic success has translated into a higher standard of living for its people, with your per capita GDP more than doubled over the same period.  This is very impressive progress.  Looking ahead, I have no doubt that Vietnam will do even better, with your strong resolute leadership and focus on boosting the confidence of foreign investors.

Your Excellency

        2008 marks a special year for our two countries.  We will celebrate the 35th anniversary of the establishment of diplomatic relations on 1 August.  Our relations have grown by leaps and bounds over these years.  Last year, bilateral trade was over S$13 billion, an increase of 15.4% year-on-year, with Singapore being Vietnam’s 4th largest trading partner.  At the end of last year, Singapore was the second largest foreign investor in Vietnam with a registered cumulative investment of almost US$11 billion.  During this visit, I will be briefed on several major projects that Singapore companies are undertaking in Vietnam.  These undertakings are testament to the confidence that Singapore companies have in Vietnam’s growth potential.

        Relations between Vietnam and Singapore have been enhanced since the signing of the Connectivity Framework Agreement.  This has brought our two countries even closer together.  There are now diverse areas of cooperation – in education and training, finance, investment, information technology and telecommunications, trade and services, transportation, urban infrastructure, and port and logistics.  This cooperative framework between our two countries augurs well for the expansion of our cooperation.  We can leverage on each other’s competencies, and help each other attain even higher levels of growth and development.  We can now expand our cooperation into areas that will enable us to share our public sector experience for instance in urban development through customised training programmes for Vietnamese officials besides sharing our experience in other areas, such as ports and logistics.  Such developments, especially in the area of human resources should also enhance Vietnam's attractiveness as an investment location.  I am happy to note that through the Singapore Cooperation Programme, Singapore has been a strong partner in Vietnam's development especially in the technical training of industrious Vietnamese workers.

Your Excellency

        Besides political and economic collaboration, Singapore looks forward to broadening our relations to other fields which will help to enhance mutual understanding and people-to-people relations.  To celebrate 35 years of our bilateral relations, Singapore’s National Heritage Board will be organising the “Vietnam Festival 2008” from April to July this year.  The festival will feature the first-ever major exhibition of Vietnamese contemporary art in Singapore.  It will feature about 100 historically important works in various media, from paintings to installation and performance art.  The exhibition will be complemented by a series of public programmes throughout the four months of the exhibition.  I am confident that this festival will create greater awareness and promote better understanding of Vietnam’s history and culture among Singaporeans.  This will certainly enrich relations and understanding between our two peoples.

        During this state visit, I will be visiting Central Vietnam for the first time.  I have heard a great deal about the unique historical sites in Central Vietnam, and I certainly look forward to visiting the UNESCO World Heritage Sites in My Son and Hoi An.  I believe that there is tremendous potential for Vietnam’s tourism industry.  Vietnam is in a good position to become a key destination in the region for both leisure and business travellers.  Singapore would be happy to explore with Vietnam how we can be partners in promoting tourism.

        Beyond our close bilateral relations, we continue to work closely in ASEAN as well as other fora such as ASEM, APEC and FEALAC.  Our two countries must continue to work together within ASEAN to implement the recently signed ASEAN Charter and ASEAN Economic Community Blueprint.  In order to ensure ASEAN's continued relevance to the region, we should endeavour to complete the ratification of the Charter by the next ASEAN Summit in Bangkok so as to bring it into effect, as well as begin work on the various transitional arrangements.

        I welcome Vietnam's proposal to convene the first EAS Environment Ministers' Meeting next year.  This will be alongside the ASEAN and ASEAN+3 Environment Ministers meetings that Vietnam is hosting.  Through these meetings, ASEAN can play a leading role within the EAS to galvanise action on environmental issues.

Your Excellency

        I would like to assure you that Singapore looks forward to working closely with Vietnam to strengthen cooperation between our two countries as well as in regional cooperation.  I have every hope that our strong and dynamic partnership will continue to grow.  Let us keep up the positive momentum and further develop our relationship in multiple sectors for mutual benefit.

        Distinguished guests, 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 President Nguyen Minh Triet and Madam Tran Thi Kim Chi
       •     to the peace and prosperity of Vietnam, and 
       •     to the friendship between Singapore and Vietnam.