WARM WELCOME: President Nathan (left) meeting his Vietnamese counterpart Nguyen Minh Triet at the presidential palace in Hanoi yesterday.
From the Straits Time Feb 26, 2008
Visiting President Nathan praises Vietnam's rapid economic growth
By Roger Mitton
At the dinner, Mr Nathan praised Vietnam's rapid economic growth in recent years, noting that its 8.5 per cent growth last year was the highest in a decade. He added that Singapore has successfully secured a large and growing part of that action.
Mr Nathan also told President Triet that Singapore wants to work with Vietnam to develop new areas of cooperation in tourism, urban development, port and logistics and airport development, as well as non-economic areas such as arts and culture.
Visiting President Nathan praises Vietnam's rapid economic growth
By Roger Mitton
HANOI - AT THE start of a five-day state visit here yesterday, President SR Nathan congratulated Vietnam on its rapid economic growth and said Singapore hopes to extend closer ties between the two countries beyond the political and economic.
President Nathan and his wife were personally greeted by President Nguyen Minh Triet and his wife Tran Thi Kim Chi at Hanoi's ornate presidential palace yesterday afternoon, where a full military guard of honour played the national anthems of the two countries.
He recalled that when he last visited Vietnam in 2001, there were hardly any major factories or huge company billboards along the airport highway. 'Now, there are so many all the way along the road, and also many factories along the route,' he said, adding that he was especially pleased to see a billboard announcing the plans for a new Vietnam-Singapore Industrial Park near Hanoi.
President Triet, who visited Singapore 18 months ago, said he was pleased to welcome Mr Nathan to Vietnam this year, which marks 35 years of diplomatic ties between the two countries.
President and Mrs Nathan also attended a state banquet yesterday evening hosted by President Triet and his wife.
President and Mrs Nathan also attended a state banquet yesterday evening hosted by President Triet and his wife.
At the dinner, Mr Nathan praised Vietnam's rapid economic growth in recent years, noting that its 8.5 per cent growth last year was the highest in a decade. He added that Singapore has successfully secured a large and growing part of that action.
'Last year, bilateral trade was over S$13 billion, an increase of 15.4 per cent year on year, with Singapore being Vietnam's fourth-largest trading partner,' he said. Singapore is also the second-largest investor in Vietnam, after South Korea, with a registered cumulative investment of around US$11 billion (S$15 billion).
Mr Nathan also told President Triet that Singapore wants to work with Vietnam to develop new areas of cooperation in tourism, urban development, port and logistics and airport development, as well as non-economic areas such as arts and culture.
On the upcoming Vietnam Festival 2008, a four-month-long programme to begin in Singapore in April, Mr Nathan said: 'I am confident that this festival will create greater awareness and promote better understanding of Vietnam's history and culture among Singaporeans.'
Today, after paying homage at the mausoleum of Vietnam's founding father Ho Chi Minh, President Nathan will meet Prime Minister Nguyen Tan Dung and the head of the ruling Communist Party, general secretary Nong Duc Manh.
Later this week, Mr Nathan will visit some of central Vietnam's major heritage sites, notably the Champa ruins at My Son and the historic port village of Hoi An.
Accompanying Mr and Mrs Nathan on the state visit are Community Development, Youth and Sports Minister Vivian Balakrishnan and his wife, Minister of State for Trade and Industry Lee Yi Shyan, Members of Parliament Lam Pin Min and Wee Siew Kim, as well as senior business leaders from companies such as CapitaLand, Keppel Corp, Ascott, UOL, Pico Art and Changi Airports International.
rogermitton@hotmail.com
rogermitton@hotmail.com
Reflection Questions:
Answer anyone of the following questions.
- How does Singapore contribute to the development of Vietnam?
- How will Singapore benefit from helping Vietnam to develop?
- Globalisation has both positive and economic impact. What do you think are the economic and social impact of globalisation on Vietnam?
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8 comments:
Name: Amanda Ong (18)
Class: 4Endeavour
Q1.
As Singapore already has 35 years of diplomatic ties with Vietnam, they can work at ease with each other , and Vietnam had a billboard announcing new plans for a new Vietnam-Singapore Industrial Park near Hanoi.
President Nathan has told President Triet that Singapore wants to work with Vietnam to develop new areas of cooperation in tourism, urban development, port and logistics and airport development, as well as non-economic areas such as arts and culture.
The Industrial Park can greatly help in boosting Vietnam's tourism, because when the Park is set up, people will want to see what is going on, and they will go to Vietnam to have a look, and in this way, Vietnam can have an increase in tourism. An increase in tourism can bring about economic development, and Vietnam will then have a better standard of living and quality of life. The Vietnam government, & a portion of the wealth of the country can then be used to develop the urban areas in Vietnam.
Therefore in time to come, Vietnam will be better and more developed in terms of national development, economic development and also in non-economic areas.
Name :Lee Geng Tao(10)
Class:4Diligent
Q2.
I think that by helping Vietnam to develop, Sinagapore can have another trading partner and can create a even stronger bond between the two countries.
Having the Vietnam Festival 2008 to begin in Singapore, this can let Singaporeans learn more about Vietnam's culture. Transportation of their arts and culture will therefore be presented in front of the very eyes of the Singaporeans. As they have the festival, the Vietnamese can communicate to the Singaporeans and tell them more about Vietnam's history. Globalisation is therefore set up.
Other than that, Singapore is Vietnam's fourth-largest trading partner and also the second-largest investor in Vietnam. With this, Singapore has successfully secured a large and growing part of that action.
Dear Amanda,
Good answer but do remember that the Industrial Park in Vietnam is not a theme park for the tourist like Disnay Land. It is an estate that have infrastructure like roads, water, telecommunication so that factories can be set up there. A good example is the Jurong Industrial Estate.
Well done Geng Tao.
MamaFess
Name: Shabnam (15)
Class: 4Adventurous
Q1.
Globalisation would definitely have an impact on Vietnam and the rest of the world. When Vietnam becomes more globalised, allowing trade, and making more new bilateral ties, it helps Vietnam become more interconnected and more integrated with the rest of the world.
This would be impactful to the economic status of Vietnam. Allowing international trade, Vietnam is already exposing herself in the global market. So now, Vietnam will face a rise in the income levels due to foreign investments and trade. With higher income levels, the people of Vietnam would have higher purchasing power. They can buy more goods, afford better quality products and receive good services and hospitality. This would then lead to a higher standard of living and better quality of life.
The Vietnamese government can also make use of this profits and revenue collected to build more modern infrastructure such as schools and hospitals, or even upgrade their housing facilities and transportation.
As globalisation would mean being more connected with the rest of the world, Vietnam would be affected socially too. This is because, globalisation allows many people will get to travel around the world, or surf the net easily to find information. So Vietnam's culture and relations will be known to others. So, globalisation would give an increase in awarenes based on its culture. This would result in international cultural exchange. Some other examples are Hollywood and Bollywood movies and Westernization in Asian countries.
However, there are some negatives impacts introduced by globalisation on the economy. One prominent impact is the widening of income gaps. This rapid income growth will only benefit those who can keep up with the progress. For those who can't change for the future, will be left out and will be stuck in poverty. This is because globalisation changes the world.
Yes Shabnam, I agree with your observation about the impact on globalisation. Question? Are Singapore encountering similar impact?
Mamafess
Name: Tommy Gunawan (40)
Class: 4A
Q2 How will Singapore benefit from helping Vietnam develop?
Singapore has been in a continuous journey of improvement and development. She'll sieze any opportunity which comes and will make full use of it. Vietnam, is one example.
As mentioned in the article, Singapore is Vietnam's 4th largest trading partner and second largest investor. This fact alone can tell us that Singapore does contribute a significant amount to Vietnam's rapid development. If Singapore were to perhaps, "bail out" out on Vietnam, Vietnam's trading and economy will have a significant impact, and will cripple Vietnam's development. Singapore manipulate this fact and use it to her own disadvantage.
Of course, Singapore will never use such dispicable means openly, but it is highly possible if she uses it discreetly.
Another possible advantage Singapore can benefit from Vietnam's development is the increase of her reputation as a friendly and helpful country. It encourages other countries to find Singapore as a trading partner, and this will help both Singapore and her parter trading country to develop economically.
Singapore's increase in reputation can also attract tourists, as they will see Singaporeans as helpful citizens. This also help in increasing Singapore's economics.
With such benefits, it is of course good for Singapore to help in Vietnam's development.
Name:Koh Jin Tong
Class:4F
Q2. How will Singapore benefit from helping Vietnam to develop?
I think Singapore will benefit alot from helping Vietnam. There are many reasons some like, to increase ties with Vietnam, when their trade market boom Singapore may be given things like free trade agreement and if Singapore is ever in need of help Vietnam will sure lend a helping hand.
Example the increase in ties with Vietnam, will allow Singapore to ask Vietnam for help more easily, as Singapore has helped Vietnam out. Making Vietnam feel that they owe Singapore a favour and would want to return it back.
Another point is when their trade market was to boom, Singapore may get a chance to have a free trade agreement with Vietnam. This agreement will help both countries
out, Singapore will benefit more as it will get Raw material and others like foods, more easily and at a cheaper price and vice versa.
The third point is "if" Singapore is to have a major disaster like bombs going off in many places. Vietnam will come to Singapores aid quicker and be able to aid Singapore in things like food. After the whole thing, Vietnam will help Singapore rebuild its economy. As it is in debt with Singapore.
I know there are many other reasons, but to me i think these are the more important reasons.
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