He said Viet Nam and Singapore are members of the Association of Southeast Asian Nations (ASEAN), sharing many similarities and having potentials and advantages, which could supplement each other. He said that the two sides shared a wish to boost friendship and cooperation for fast and sustainable development. After more than 30 years establishing diplomatic ties, the cooperation between the two countries has constantly been developed and Singapore now is Viet Nam's leading trade partner and investor. In 2004, bilateral trade turnover reached nearly 5 billion USD, 28 percent up over 2003, and is expected to exceed 6 billion USD this year. By the end of November, Singapore had 380 valid investment projects in Viet Nam with a combined capital of over 7.5 billion USD.

Dung said the Vietnamese Government always attaches importance to attracting foreign investment and accelerating international trade. The Government is guiding the implementation of the newly-approved Investment Law and Enterprise Law and continuing to create more favourable and fair conditions for foreign and domestic investors and businesses.

Meanwhile, Singaporean Trade and Industry Minister Lim Heng Kiang and General Director of the Singapore Business Federation (SBF) Stephen Lee affirmed that with the fastest growth rate in Southeast Asia, an abundant labour force and achievements in market reform and national renewal, Viet Nam has become an important partner of Singapore. Moreover, Viet Nam has many unexploited resources, especially oil and gas and minerals. They said Singaporean businesses have substantial opportunities in education and training, information technology, telecommunication, tourism and finance.

Stephen Lee further said that SBF will continue supporting Singaporean businesses to invest in Viet Nam.

On this occasion, the two sides signed a 70 million-USD project to build a trade and service complex in the Viet Nam-Singapore industrial zone in Binh Duong, a 49 million-USD contract to develop the Viet Nam-Singapore industrial zone in the second phase, a 20 million-USD garment contract, and a cooperation contract between the Bank for Investment and Development of Viet Nam and the United Overseas Bank of Singapore.

The forum was held in the framework of "Vietnamese Days in Singapore", from Dec. 6-8.

The same day, a photo exhibition entitled "Viet Nam: Land and People" also opened./.