[1]Just hours after visiting Singapore Prime Minister Lee Hsien Loong told a gathering of top business honchos here that India’s business environment is complicated, Prime Minister Manmohan Singh sought to allay his misigivings by assuring him about India’s commitment to enforcing its status as an investment-friendly country.
Dr Singh, who was speaking to the media shortly after delegation-level talks between the two sides, had concluded here this evening also said that he expressed the hope to Mr Lee that “Singapore companies would look at India as a valued investment destination in the current scenario.”
The PM also noted that Singapore is not only India’s foremost trading partner in Asean but also a major source of FDI inflows into India.
He further said, “I welcome additional Singapore investment into India, particularly in the infrastructure sector, where Singapore has great expertise.”
The PM added : “We agreed to expedite the conclusion of the ongoing second review of the Comprehensive Economic Cooperation Agreement that would further facilitate trade in goods, services and investment.”
During the meeting between the two sides, India and Singapore also inked three pacts. Deciding to step up bilateral cooperation in the fields of defence and security, the two sides have signed an MoU renewing the bilateral arrangement between the Air Forces of the two countries on joint training and exercises.
An MoU on Cooperation in Vocational Education and Skills Development too was signed which is expected to provide the framework for cooperation in this field. A specific cooperative project on skills training in Delhi is also getting underway.
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