Singapore Businessmen Keen On Investing In Haryana

A number of entrepreneurs and businessmen from Singapore have expressed interest in investing in Haryana particularly through the joint venture route.

Ong Keng Yong, high commissioner of Singapore, who called on Chief Minister Bansi Lal on Thursday evening conveyed that though the entrepreneurs are keen to invest in Gurgaon, they are willing to invest in other parts of Haryana too.

While appreciating Singapores interest in investing in Haryana, the Chief Minister asked the high commissioner to submit specific investment proposals in order to accelerate the process of setting up of the joint ventures.

The Chief Minister also urged the high commissioner to explore the possibility of launching a project in Haryana to educate the rural masses about cottage industries.

 

Speaking to Business Standard later, Yong said : Of course, Singapore can provide education and training pertaining to industrial development to the rural people of Haryana.

Answering questions, the Singapore high commissioner disclosed that investments from Singapore in Haryana could easily total upto about $ 100 million.

He said entrepreneurs from Singapore are interested in investing in areas like light manufacturing, consumer durables, computer parts, besides textiles and garments.

He explained that they were keen to invest in Haryana because of its inherent advantages.

Besides proximity to the Indira Gandhi International airport, there is peace in the state and no labour problems, unlike in some other states in the country. Yong said : Besides Haryana, entrepreneurs from Singapore are also keen to set up projects in other states like Tamil Nadu and Karnataka. We are very much interested in operating joint ventures in areas like commercial buildings, corporate offices, and hospitals.

Yong lauded the economic reforms initiated in India since 1991. He observed : India is an open economy now.

But the challenge before India is to convey not only to the world but also to its own people that reforms will be far, fast and deep.

It is imperative to convey that the country is sincere in effectively implementing reforms, particularly in infrastructure development.

If the Indian government succeeds in giving this message across the world and within the country, there is no reason why the pace of private and foreign investment in the country will not pick up ,he said.