Industries and IT Minister K.T. Rama Rao on Tuesday said that the State government was ready to establish an exclusive zone for Singapore companies investing in Telangana.
“If Singapore companies show interest in investing in Telangana, the State government would set up an exclusive zone or Singapore hub,” Mr. Rao said during a meeting with a visiting delegation led by High Commissioner of Singapore Simon Wong.
A release from the Minister’s office said Mr. Rao mentioned this while highlighting how the Telangana government has been successful in attracting investments from different countries with its investment-friendly policies, TS-iPASS system of time bound and single window approval. Many Singapore-based firms had already established their units in the State, he said.
Appreciating the Minister for mooting an exclusive Singapore hub, the High Commissioner said a similar initiative by Vietnam to attract investments had paid off. “We will definitely consider this proposal positively,” Mr. Wong said, adding that Singapore-based firms that have invested in Telangana had given a positive feedback about the State’s ecosystem.
He said Singapore companies were keen on investing in IT, innovation and allied sectors as well as on blockchain technology. “Apart from advanced sectors, Singapore companies are keen in investing in agriculture and food processing sectors” Mr. Wong said. Industries and IT Secretary Jayesh Ranjan was present during the meeting, the release said.
