Singapore to Participate in Vibrant Gujarat Global Summit; Announce INR 2,300 Crore Investment

Singapore is excited to announce its partnership with Gujarat at the upcoming Vibrant Gujarat Global Summit. In line with our commitment to sustainability and green initiatives, we are looking forward to expanding our investments in Gujarat's green economy. This collaboration will not only strengthen economic cooperation between Singapore and Gujarat but also contribute to the sustainable development goals of both regions.

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The Vibrant Gujarat Summit will take place from January 10 to January 12, 2024.

Singapore will participate as a partner country at the Vibrant Gujarat Global Summit (VGGS), which is being organized in Gandhinagar, and announce investments worth over ₹2,300 crore.

Singapore and its companies will strengthen economic cooperation with the state of Gujarat. This will be done through expanded investments in Gujarat’s green economy and sustainability sector. The investments will be announced during the VGGS, which will be held in Gandhinagar from January 9 to 12, 2024, Singapore’s High Commission to India said in a statement on Saturday.

“Singapore will expand investments into Gujarat’s Green Economy and Sustainability Sector at the VGGS2024. Looking forward to announcing INR2,300 cr of investments,” Singapore’s High Commissioner to India, HC Wong, said in a post on X.

According to the statement, Singapore will participate as a partner country at the VGGS, alongside 30 other countries. A dedicated Singapore Pavilion will be set up to showcase Singapore companies with a strong presence in the state.

The Pavilion will feature a total of nine companies, including DBS, Sembcorp, YCH, and Blue Planet, in sectors such as finance, renewable energy, waste management, and logistics. These companies also have plans to increase their investments in Gujarat, the release added.

Singapore High Commissioner to India Simon Wong will lead a delegation of officials and almost 100 business delegates to the VGGS. High Commissioner Wong will deliver the opening remarks at the Singapore Seminar, which will be held on January 10, 2024.

He will emphasize that Gujarat and Singapore could explore new areas of mutual benefit, such as space collaboration and investment in new zones of opportunity like GIFT City and the upcoming Dholera Special Investment Region.

The Singapore Seminar will feature a fireside chat with business leaders on partnership and collaboration for a greener, brighter future together. The panel will comprise of Singapore CEOs from Sembcorp Industries, Meinhardt EPCM Group, and Blue Planet Group.

Several new Memoranda of Understanding (MoUs) will be concluded and signed between Singapore companies and the Government of Gujarat. These MoUs signal Singapore’s continued interest and confidence in capturing new opportunities in the state.

For instance, Universal Success Enterprises plans to set up a 500 MW solar power plant in Gujarat with an investment value of about ₹2,300 crore, the release added.

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