Yes, singing and saying rhymes is great for speech development. Try nursery rhymes. If he can't join in at all then you sing and let him fill in the last word at first then gradually 'share' the song. Repetitive ones like Old Macdonald Had a Farm are great too.
Some children can sing what they want to say more easily than just saying it. Try a game of sing-song voices, maybe taking turns with question and answer.
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