India, Singapore discuss joint SEZ project

Monday, 25 September 2006, 07:00 Hrs
Printer Print Email Email

New Delhi: India and Singapore held discussions over the modalities for implementing the ambitious project of the India-Singapore Special Economic Zone (SEZ) for a better bilateral economic partnership.

Singapore's Permanent Secretary, Ministry of Trade and Industry Peter Ong Boon Kwee and Prime Minister Manmohan Singh's Principle Secretary T.K.A Nair held detailed discussions Saturday on the concept of the SEZ, which had been proposed by Goh Chok Tong, senior minister of Singapore during a meeting with the Indian premier last June.

Goh Chok had proposed the development of a Singapore-India Economic Zone as an integrated eco-system of industry, commerce and residential activities based on world class planning, infrastructure and facilities.

The project is to be developed by Singapore's private companies in joint partnership with Indian companies, with the facilitation and guidance of the two governments.

Manmohan Singh had appointed a steering committee headed by Nair for the speedy implementation of the project.

During Saturday's discussions, both sides had agreed that the steering committee mechanism would be operationalised at the earliest.

Nair was also briefed about the ongoing discussions on the India-Singapore Comprehensive Economic and Cooperation Agreement, which are underway in Indian capital.



Source: IANS
SPOTLIGHT
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..