Singapore MM Lee: Chance for Vietnam to Restructure Economy
Singaporean Minister Mentor Lee Kuan Yew has advised Vietnam to take full advantage of the global crisis to restructure its economy and retrain manpower as the global economy resumes recovery till 2010.
Minister Lee arrived at HCMC to start his five-day trip to Vietnam at the invitation of Prime Minister Nguyen Tan Dung.
Lee told Secretary of the city's party organization Le Thanh Hai that Vietnam is in a better position than Singapore to tackle the crisis.
Vietnam authorities should send students and young lecturers for overseas training to master technology and experience to help improve quality of manpower, Lee pointed.
The crisis is also an opportunity for the government to build new and creative economic and financial policies to make low-cost consumer goods, he added.
Lee plans to visit the Vietnam-Singapore industrial zone in Binh Duong province before flying to Hanoi.
The two-way trade between Singapore and Vietnam rose 22 per cent on year to US$12 billion last year. Singapore’s investment into the country has increased to over US$16 billion so far. (VNS, New Hanoi)
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