In a ceremony organized at the Government Office in Hanoi on Tuesday graced by the two Government leaders, the two countries signed four agreements, the Vietnam News Agency reported.

These included a joint venture contract between Keppel Land and Tien Phuoc Co. Ltd. to develop an environmentally-friendly residential area in HCMC, another joint venture contract to develop a new residential complex in Hanoi between CapitaLand Commercial and Vietnam’s Hoang Thanh Investment and Infrastructure Decelopment Company, and a contract to supply crude oil storage facilities between EOC Limited and Vietnam’s PetroVietnam Transportation Corp.

In addition, Singapore’s United Overseas Bank also inked a deal with Hanoi National University to provide interest-free loans to the school’s students. The two prime ministers also witnessed the award of a license to Singapore’s bank DBS to start up its operation in Vietnam.

Before the signing ceremony, the two Government leaders held talks, and both sides pledged to bolster multi-faceted cooperation.

PM Dung suggested Singapore join forces with Vietnam in attracting foreign investment from third countries into the two countries to better utilize comparative advantages in Vietnam and Singapore, according to the news agency.

The two prime ministers also appreciated the success of Vietnam-Singapore Industrial Parks (VSIP), considering these parks as a token of successful economic cooperation between the two countries. Both leaders will today join a ceremony for the launch of VSIP Hai Phong in the northern port city.

PM Lee Hsien Loong extended congratulations to Vietnam for taking over the chair of ASEAN in 2010, and pledged to render support to Vietnam to accomplish the role of ASEAN presidency.

While in Hanoi on Tuesday, the Singapore leader also had a meeting with Vietnam’s Party chief Nong Duc Manh.