Odisha, Singapore sign 8 MoUs in semiconductors, green hydrogen and fintech

The MoUs were signed ahead of the Odisha Investor Summit, scheduled to be held in Bhubaneswar later this month, where Singapore will be the first country to partner

Bhubaneswar: Odisha signed eight memoranda of understanding (MoUs) with the Singapore government on Friday in key sectors such as green hydrogen, petrochemicals, the fintech ecosystem, semiconductors, and skill development.

Odisha chief minister Mohan Charan Majhi with Singapore's President Tharman Shanmugaratnam in Bhubaneshwar (PTI)

The MoUs were signed ahead of the Odisha Investor Summit, scheduled to be held in Bhubaneswar later this month, where Singapore will be the first country partner.

Singapore President Tharman Shanmugaratnam, who arrived in Bhubaneswar this afternoon for a two-day visit, visited the World Skill Center in Bhubaneswar and the Vertical Transportation Lab and Travelator Lab where he lauded Odisha’s efforts in advancing skill development and fostering innovation.

One MoU was signed between the Odisha Industrial Infrastructure Development Corporation (IDCO) and Sembcorp, Singapore for establishment of industrial parks in the State while the second MoU was signed between the IDCO and Sembcorp, Singapore for setting up of a Green Hydrogen Corridor. A third MoU was inked between IDCO and Surbana Jurong, Singapore in the Petrochemical and Petroleum Investment Region (PCPIR) sector. The Bhubaneswar Development Authority (BDA) signed an MoU with Surbana Jurong, Singapore for development of a new city in Odisha. The fourth MoU was signed between the Nanyang Technological University (NTU), GRIDCO, and IIT Bhubaneswar in the New Energy sector. The 5th MoU was signed between the Electronics & IT Department of Odisha with the Global Finance & Technology Network (GFTN), Singapore for strengthening FinTech Ecosystem in the State. The sixth MoU was signed between the Skill Development & Technical Education Department, Odisha, and the ITE Education Services (ITEES), Singapore, focusing on advanced skilling. Another MoU was signed between the Skill Development & Technical Education Department, Odisha, and the ITE Education Services (ITEES), Singapore, focusing on skill development in semiconductor sector.

Officials said the InsureTech Hub will support India’s goal of “Insurance for All” by 2047 so that all citizens have access to appropriate insurance, contributing to financial security and economic empowerment.

The partnership will establish training programmes in FinTech and InsureTech, upskilling professionals and students. This will equip the workforce with the skills needed to drive innovation in the digital economy. The initiative aims to establish venture capital funds and angel networks to attract investment in Odisha’s FinTech ecosystem. Increased investment can fuel the growth of startups and drive technological advancements.

Similarly, the MOU between skill development department and ITEES of Singapore would ensure expansion of World Skill Center, Bhubaneswar through introduction of new courses in various areas such as food and beverage operations, hotel operations, logistics, digital animation, healthcare assistant training, visual merchandising, artificial intelligence application, aerospace technology, aerospace avionics, marine engineering, retail, electronics, semiconductor, renewable energy. A World Centre for Information Technology and Information Technology enabled Services in areas such as cybersecurity, cloud computing, blockchain, Internet of Things, data science would also be set up in Bhubaneswar.

The MoU on semiconductor related skilling in Odisha would conduct assessment to assess the requirement of skilled human resources in the Semiconductor sector in India and the jobs available. The MoU would enable Singapore to design the curriculum based on its extensive knowledge and experience in the areas for course such as semiconductor fundamentals, semiconductor processes, semiconductor metrology, semiconductor devices and integrated circuits, industrial automation, ic packaging and electrical testing, wafer fabrication technology, cleanroom and vacuum technology, design engineering, design verification engineering or any other courses identified by SD&TE.

Odisha chief minister Mohan Charan Majhi, who was present on the occasion, said, “There is tremendous potential for collaboration between Singapore and Odisha.”