Singapore trip was a turning point for Bengal: WB CM. August 23, 2014 West Bengal Chief Minister Ms Mamata Banerjee said that the visit to Singapore was a turning point for the industrial growth of the State. Everybody took lot of interest about investing in West Bengal. We have tried to build and communicate a positive image of the State in there, she said after her return to Kolkata after the 5-day visit to the island country. The West Bengal Chief Minister said, A positive message has already reached the business fraternity of Singapore and they are also showing keen interest in the State. She also praised the delegation of industrialists from Bengal for their role in promoting the State at Singapore business summit and other such meets. 13 MoUs have been signed and we have initiated talks with several organisations. Bengal will again see industrial growth, she added. It is expected that more than Rs 1500 crores will be invested in the State. Three major agreements were signed, including that of Singapore-based GIC-invested PE funds and Kolkata based realtor Hiland Groups agreement for a Kolkata Riverside development project, worth an estimated Rs 200 crore. The Singapore-based PE fund is sponsored by HDFC Property domiciled in Singapore. Two other pacts were signed between Keventer Agro of Kolkata and InfraCo Asia of Singapore, for a food park at Dankuni worth around Rs 1,000 crore, and between Axsys Technologies and Compass Energy of Singapore for a collaboration on solutions in ship building and oil and gas exploration. The Axsys-Compass combine is expected to generate 800 additional employments in West Bengal in next two years, a West Bengal Industrial Development Corporation Statement said. Axsys is a Singapore-based engineering design and project management company operating globally from Singapore, Thailand, Europe and the US. It caters mainly to the oil and gas sector. A report on the Singapore visit is being made to make the people aware of the success the State in Singapore. Ms Banerjee, who had earlier expressed confidence that in near future the State would have a stronger and more dynamic business relationship with Singapore, met Prime Minister of Singapore Lee Hsien Loong and Singapores Minister for Foreign Affairs K Shanmugam during her visit. The West Bengal government, in association with the National University of Singapore, will create a study paper with focus parameters to facilitate entrepreneurs. The Chief Minister was accompanied by State Finance Minister Amit Mitra and a delegation of secretaries from the State secretariat.
Posted on: Sat, 23 Aug 2014 07:18:07 +0000