Rajasthan govt invites Singapore companies to invest in state

Jaipur, Oct 7 (IANS) A Rajasthan government delegation led by Industry and Commerce Minister Rajyavardhan Rathore started the four-day Singapore visit by holding talks with Tan See Leng, Singapore’s Minister for Manpower & Second Minister for Trade and Industry on Monday. 

The delegation sought the cooperation of the Singapore government in facilitating investment in Rajasthan and discussed areas of collaboration between Singapore and Rajasthan in sectors such as solar energy, tourism, setting up of industrial parks among others.

Rathore shared the opportunities available in Rajasthan and highlighted the emergence of the state as an ideal investment destination during the meeting with Minister Leng.

He also highlighted the potential of collaboration on skilling programs, advancements in logistics etc. and invited the Singapore government to participate in the 'Rising Rajasthan' Global Investment Summit 2024, scheduled to be held on 9th-10th-11th December in Jaipur.

The delegation is in Singapore to invite prominent business groups based out of Singapore to make investments in Rajasthan and invite them to the ‘Rising Rajasthan’ Global Investment Summit 2024.

The delegation also held meetings with officials of the CII-India Business Forum, in which Singapore representatives of Indian companies like Air India, Infosys, Axis Bank, Bank of India, EXIM Bank, ICICI, and the State Bank of India were also present.

It also held a meeting with Enterprise Singapore, which is a statutory body under the Ministry of Trade and Industry of the Government of Singapore and champions enterprise development in the country.

Singapore companies like Sembcorp, DP Urban, EnvironSens, Evervolt Green Energy Holding Pte, Integratech Pte, RICE Renewables Pte, and VFlowTech Pte also participated in the meeting. Moreover, a separate meeting was held with investment firm Blackstone Singapore.

Rathore emphasised Rajasthan’s strategic geographic location and its favourable environment for various business sectors, including services, tourism, agro-processing, infrastructure, logistics, renewable energy, electric vehicles, and petrochemicals among others.

“Rajasthan government has introduced several new policies across sectors to facilitate ease of doing business in the state. Rajasthan offers a wide range of sectors conducive to business growth and is a land of boundless opportunities,” the Industry Minister said.

Rajasthan Chief Secretary said that the state government approved the Rajasthan Investment Promotion Policy (RIPS) 2024 last week itself and highlighted the efforts of the state government in creating a conducive environment for doing business in the state.

An official said that the business leaders of Singapore have shown interest in exploring opportunities in the state, particularly in sectors like renewable energy, tourism, developing business parks, and data centres as well as having a country-specific industrial park like the Neemrana Japanese Zone.

In the run-up to the ‘Rising Rajasthan’ Global Investment Summit 2024, the Rajasthan government has planned to organise investor’ meets around the country as well as overseas.

The domestic investors’ meets have already been organised in Mumbai and New Delhi whereas on the global front, the investors’ meets have so far been organised in South Korea, Japan, UAE and Qatar.

The extensive outreach has resulted in the state government securing investment proposals (MoUs) worth over INR 12.55 lakh crore so far.

--IANS

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