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China and India, the two rapidly emerging economies, are twin engines for Asia's growth, Singapore Prime Minister Lee Hsien Loong reiterated here on Monday at the opening of the annual event of Global Entrepolis @ Singapore.

Addressing the event, which comprises a record 41 conferences and events for more than 10,000 participants including leaders of multinational corporations, entrepreneurs and investors, Lee said China has taken effective steps to prevent its economy from overheating and to deepen structural reforms.

"As China continues to open up its economy, it will create more opportunities for the rest of Asia and indeed the world," he said.

He said that the Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore, concluded earlier this year, will not only create opportunities for businesses in the two countries, but also help establish economic ties between India and Southeast Asia.

Members of the Association of Southeast Asian Nations (ASEAN) including Singapore need to "tap the growth and prosperity of the region" on the one hand, and on the other, strengthen integration among themselves and enhance cooperation with other economic partners, so as to reinforce ASEAN's role as a hub in Asia, he said.

He pointed out that terrorism and maritime security are two major issues which post threat to Asia's growth and stability in the future.

As for Singapore, Lee said it will be made "a vibrant global city, a hub of talent, enterprise and innovation, and a leading center of Asia".

The event will last for four days at Suntec city in downtown Singapore.