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High Commissioner of Singapore and Delegation meets CM Shri Vijaybhai Rupani

“Gujarat keen to develop GIFT City as world-class investment destination for financial and technological companies”

“Gujarat is a leading state to attract FDI inflow; Singapore is second largest contributor of FDI in Gujarat”

– Gujarat Chief Minister Vijay Rupani

“Setting up Singapore Stock Exchange at GIFT City to result in many more subsidiary companies opening their offices here”

– Singapore High Commissioner Simon Wong

Gandhinagar, Tuesday: Singapore’s High Commissioner Mr. Simon Wong leading a high-level delegation from his country paid a courtesy call on Gujarat Chief Minister Vijay Rupani here today.

The delegation comprising officials from the Political Affairs and Economic Affairs is in Gujarat in connection with finalizing the establishment of the offshore office of the Singapore Stock Exchange (SGX) at the GIFT City by April-end.

Mr. Wong extended an invitation to the Chief Minister to the inaugural function, which he accepted.

Mr. Rupani said that Gujarat is committed to establish GIFT City as a world-class investment centre for financial and technological companies on the lines of Singapore and Dubai.

He told the delegation that Gujarat is a leading state to attract FDI, while Singapore is the second largest contributor of FDI inflow into Gujarat.

Mr. Wong looked forward to SGX office here encouraging many more subsidiary companies from Singapore establish their offices at GIFT City, and also have business delegation from both the countries interacting with one another. The Minister of Industries and Commerce will lead the Singapore delegation.

He said that FDI inflow from Gujarat was USD one billion last financial year, prominent among them being famous Sembcorp Industries, a global leader in renewable energy having commissioned renewable (wind) energy project in Bhuj. Companies from Singapore keen to invest in Gujarat include that in Food Processing, Housing, Fisheries, Financial Services, etc.

Those present at the meeting included Chief Minister’s Additional Chief Secretary and Additional Chief Secretary for Industry and Mines M.K. Das, Industries Commissioner Rahul Gupta and iNDEXTb Managing Director Neelam Rani.

Source: Information Department, Gujarat