News: The Business Times -  15 January 2010


Cultivating a long-term friend

DESPITE the grey year that Singapore has experienced, it is determined to cultivate ties with its many neighbours and friends.

Making this point yesterday was Prime Minister Lee Hsien Loong, adding that the Republic would 'have difficulties' succeeding unless the surrounding nations do well themselves.

'We can do well, we would like to do even better than other countries, but really, we do best when our neighbours are prospering and we prosper together with them,' he said at a reception for overseas Singaporeans living and working in Vietnam.

The function was organised by the Singapore Embassy in Vietnam and the Overseas Singapore Unit. Latest figures show that there are about 300 Singaporeans currently in Vietnam.

'We've just come through quite a difficult year in Singapore . . . 2009 has been a very unsettled time for the global economy,' said Mr Lee to his audience of about 100 guests at the Sofitel Plaza hotel in the heart of the Vietnamese capital. 'We have had minus 2.1 per cent growth and we are coming out from a trough.'

Mr Lee - who is in Hanoi as part of a four-day official visit at the invitation of Vietnamese Prime Minister Nguyen Tan Dung - described the bustling country, a fellow member of the 10-member Asean bloc, as one of Singapore's 'significant economic partners'.

'We would like to cultivate a long-term friend. We are not just here as a hit-and-run, but here for long-term projects and investments and establish a reputation for Singapore,' he said.

This point was driven home by Patrick Choy, adviser to the Singapore Business Association Vietnam, a body that is officially recognised by the Vietnamese government as one that represents the Singapore business community in Vietnam. 'We would like to demonstrate to Vietnam that we are long-term, sincere and responsible investors.'

Mr Lee also spoke highly of the Vietnamese people, describing them as having a 'certain drive and determination' to get ahead and do well. 'Whether they are riding their little motor scooters, or selling baguettes by the roadside, they are never missing an opportunity to improve themselves and their lives for a better future,' he said.

As the guests prepared to tuck into a dinner of Singapore delicacies, Mr Lee had this message for the Singaporeans in Vietnam: 'I am glad you and your families are here. We hope you will maintain your links back home and fly back and forth regularly. Through your presence overseas, you will help us to prosper and to become a strong and robust economy. We cannot be strong and robust by ourselves. It depends on our neighbours, links, outreach and capabilities.'

- end of BT article