West Bengal, Singapore to set up business centre in Kolkata

Singapore: West Bengal and Singapore governments decided to jointly set up a Business Centre in Kolkata as Chief Minister Mamata Banerjee met Prime Minister Lee Hsien Loong to discuss industry, business and trade.

Describing the meeting as positive, constructive and fruitful, Banerjee said West Bengal and Singapore governments will jointly set up a Business Centre in Kolkata in 18 months.

Lee has been invited to inaugurate the centre.

Banerjee, who arrived in India on Monday from her first overseas visit after assuming office in 2011, said she talked with Lee about the land bank, land map and power bank of the state.

"The meeting with Singapore Prime Minister was positive and fruitful. Mr Lee was very cordial," said Banerjee.

"We have invited Mr Lee to visit our state. We told him about the progress made by Changi Airport in the construction of Andal airport," she said.

"We told Mr Lee that we want to create a Chair at Calcutta University in the name of his father and the first Prime Minister of Singapore, Lee Kuan Yew. We want to develop the relation between Bengal and Singapore in a more cordial manner," she said.

According to Banerjee, Lee inquired about the multi-national corporations (MNCs) working in West Bengal, like those from Japan.

"We informed Mr Lee about the total scenario. We have focused on industry, business and trade. We have told the Singapore Prime Minister about our land bank, land map and power bank. Bengal is endowed with hills, forests, rivers and sea coast.

She told Lee to about investment opportunities in her state.

"We have a lot of scope for tourism. We told him (Mr Lee) about the scope of investment in our Financial Hub and informed him about the urban cities that are being developed," said Banerjee, who also told the Singapore Prime Minister that this was her first foreign trip in the last 15 years.

"I told the Prime Minister that since the time difference between Kolkata and Singapore is just two and a half hours, it will be an important advantage in business," she said.

"We also told Mr Lee that the loss of mandays in Bengal have come down from 78 lakhs to zero. We also informed him about our GDP growth and other such statistics."

Banerjee said the Singapore Prime Minister has wished her and the West Bengal well and hoped that state’s business meeting on Wednesday would be a success.

"We chose Singapore for investment destination because of geographical, historical, political and cultural reasons. We have requested the Singapore Prime Minister to make Kolkata a part of the diamond jubilee celebrations of India-Singapore ties," she said.

The India and Singapore 50 years of diplomatic relation celebrations was inaugurated by External Affairs Minister Sushma Swaraj and Singapore Foreign Minister K Shanmugam last Saturday.

Meanwhile, the West Bengal government was planning to set up a Focus Centre for Singapore-based investors to let them know about the laws, facilities and policies of the state.

"It would act as an one-window centre," said Amit Mitra, Minister for Finance & Excise, Commerce & Industries.

"We are planning to set up a Focus Centre for them to let know about the facilities, laws and policies in place in Bengal and continuously monitor its activities and solve problems, if any," he said.

"This might be the first of its kind in our country. This Focus Centre will work in close coordination with 25-30 departments of the State Government. This will be a one-window centre. This will monitor, trade, investment and even technology transfer," he said.

He said businessmen travelling in the Chief Minister Banerjee’s delegation were holding meetings with Singapore-based businessmen.

"It is clear from many of the meetings that there is a positive outlook about Bengal here," he said.

A business seminar will be held on Wednesday on investment opportunities in West Bengal.