Singapore's Dy PM hails investor-friendly policies in Gujarat

During his conversation with Patel, Singapores deputy PM said he was impressed with the development of various sectors including the states infrastructure, stated a release issued by the Chief Ministers Office CMO.Wong shared details of the investments made by Singaporean investors-entrepreneurs in Gujarat in the fields of trade, investment and finance.

Singapore's Deputy Prime Minister Lawrence Wong on Sunday met with Gujarat Chief Minister Bhupendra Patel in Gandhinagar and said investors from his country operating in Gujarat are fully satisfied with its policies and encouraging environment.

Wong arrived in India on Saturday on a five-day official visit.

Wong paid a courtesy visit to Patel in the state capital along with a delegation in what was his first visit to Gujarat. During his conversation with Patel, Singapore's deputy PM said he was impressed with the development of various sectors including the state's infrastructure, stated a release issued by the Chief Minister's Office (CMO).

Wong shared details of the investments made by Singaporean investors-entrepreneurs in Gujarat in the fields of trade, investment and finance. He said Gujarat is the second largest investment destination for Singapore.

Besides the sectors like finance, transport, and infrastructure, Gujarat and India also provide a huge potential for investments in the fields of fintech, green energy, and hydrogen energy, the release quoted the visiting Deputy PM of Singapore as saying.

Patel said relations between India, Gujarat, and Singapore remained warm with long-term investments and encouragement to industries. ''Under the guidance of Prime Minister Narendra Modi, Gujarat has created a sound ecosystem to become a permanent choice of destination for investors and businessmen from other countries including Singapore,'' he said.

Patel hoped Singapore will continue to take part in the Vibrant Summits in the future. He suggested Wong visit the world's tallest Statue of Unity during his next visit.

In a related development, Singapore's central bank, the Monetary Authority of Singapore (MAS), and the GIFT City-headquartered International Financial Services Centres Authority (IFSCA) signed a FinTech Co-operation Agreement (CA) to facilitate regulatory collaboration and partnership in FinTech in Wong's presence.

The CA will promote regulatory sandbox collaboration, as well as sharing of information and developments on innovation in financial products and services, facilitate discussions on emerging FinTech issues and participate in joint innovation projects, stated a joint release.

Gujarat finance minister Kanubhai Desai and other delegates were present at the event.

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