Singapore-based companies are set to sign MoUs worth S$5 billion (USD3.7 billion) with the Tamil Nadu Government at the upcoming Global Investors Meet 2024 to be held in Chennai on January 7 and 8. Singapore is one of the partner countries in the event.
“Getting ready to leave for Chennai to represent 🇸🇬 at #TNGIM2024 as the 1st Partner Country. Looking forward to S$5b of new MoUs to be signed,” Singapore’s High Commissioner to India, Simon Wong, tweeted.
In the last two years, four Singapore-based companies entered into agreements with the State government with an investment of ₹4,800 crore, thereby creating employment to 6,200 persons.
Stalin’s Singapore visit
Tamil Nadu Chief Minister MK Stalin in May 2023 visited Singapore to woo investors there to invest in India. During his visit, the Singapore-based Hi-P International Pvt Ltd signed an MoU with the State government to set up an electronics parts manufacturing plant in the state with an investment of ₹312 crore and provide employment to around 700 persons.
The Chief Minister also invited government and company officials to the GIM.
During his visit, five other MoUs were also signed. This included an agreement between the Singapore-India Partnership Office and SIPCOT for cooperation in economic activities and development, a release then said.