The minister for local government and communities paid tribute to the emergency services following the major flooding events in mid and north Wales.
Carl Sargeant said: "This was the worst flooding event that we've seen in Wales for a number of years."
He added: "The swift action of many undoubtedly saved many lives."
Parts of Ceredigion, Gwynedd and Powys were seriously affected by flooding over the past week with some areas flooded by 5ft of water.
Around 1,000 people were moved to safety on Saturday, with an estimated 150 rescued, many from caravan parks in Aberystwyth.
Around 600 villagers from Pennal, Gwynedd were told to leave their homes after cracks appeared in a nearby reservoir wall.
The Met Office has confirmed that more than a month's worth of rain fell in the Aberystwyth area on Friday.
But despite the huge disruption caused by the severe flooding, the minister also stressed that "Ceredigion is very much open for business".
There is now a real concern that the flood has caused serious pollution to land, animals and crops near Aberystwyth.
Scientists will investigate whether the flooding has contaminated land with harmful metals from abandoned mines.