CM Stalin woos investors in Singapore; six MoUs signed

May 25, 2023 01:03 AM IST

Stalin announced that a monument will be established in Tamil Nadu for the late Lee Kuan Yew (LKY), Singapore’s first prime minister, considered the founding father of the country

Chennai: Tamil Nadu chief minister M K Stalin in his maiden visit to Singapore signed six memoranda of understanding (MoU) on Wednesday and held discussions with the heads of major financial and industrial institutions.

Tamil Nadu chief minister Stalin with Singapore minister of transport and trade S Iswaran on Wednesday. (PTI)
Tamil Nadu chief minister Stalin with Singapore minister of transport and trade S Iswaran on Wednesday. (PTI)

Stalin left Chennai on Tuesday on a two-nation tour of Singapore and Japan to attract more investments to Tamil Nadu and invite investors for a global investors’ meet in Chennai to be held in January 2024.

The MoUs signed during the ‘Investors’ First Port of Call’ in Singapore include a proposed investment of 312 crore by Singapore-based Hi-P International Pvt Ltd in manufacturing of electronic components in Tamil Nadu which is expected to generate 700 jobs. Stalin and minister for industries TRB Rajaa spoke of the conducive environment for investments in Tamil Nadu.

“In order to play a vital role in shaping the economy of India, we in Tamil Nadu, have set ourselves the target of becoming One Trillion Dollar Economy by the year 2030. We are taking all efforts to achieve our target,” Stalin said at the event. “On this occasion, I appeal to you to invest on a large scale in Tamil Nadu which will be mutually beneficial to both Tamil Nadu and Singapore.”

Earlier in the day, Stalin held talks with Dilhan Pillay Sandrasegara, executive director and CEO of Temasek, Kim Yin Wong of Sembcorp, and Sanjeev Dasgupta of CapitaLand. They reaffirmed the long-standing relations between Tamil Nadu and Singapore, Stalin said in a statement. These companies and more have expressed their interest in investing in Tamil Nadu and they explored the possibilities of expanding the existing investments in renewable energy, industrial parks and logistics to new areas including food processing and fishing, he added.

Temasek has an existing investment in the wind power sector in Tamil Nadu and Stalin invited the company to expand its footprint in the state. “The chief minister told Wong of Sembcorp that the government of India has simplified the regulations regarding pumped hydro storage projects and urged the company, operating in the renewable energy sector, to explore the PPP model to implement initiatives in our state,” said a statement from the government. Stalin said that officials from CapitaLand were keen to contribute towards research and development (R&D) facilities in Tamil Nadu.

Earlier, the chief minister also met Singapore’s transport minister S Iswaran, who is also in-charge of trade relations, and discussed improving economic and bilateral ties between the two countries.

Lee Kuan Yew Statue in TN

Later, while attending a Tamil cultural event, Stalin announced that a monument will be established for the late Lee Kuan Yew (LKY), Singapore’s first prime minister, considered the founding father of the country. “For Tamil to be long standing in Singapore, its first prime minister Lee Kuan Yew was the main reason,” Stalin said. “A library in Lee Kuan Yew’s name and a statue will be established in Mannargudi.”

Singapore has a massive Tamil diaspora with a majority hailing from Mannargudi and Pattukottai. The Dravidian rule supports Tamils across the world, Stalin said. “Religion and caste cannot split Tamilians.”

Stalin added that LKY was attracted by a speech by DMK founder and late chief minister C N Annadurai. “He (LKY) later hosted Anna for a feast,” the chief minister said.

When LKY passed away in 2015, Stalin’s father and late former chief minister M Karunanidhi had hailed him as “Singapore’s hero,” he recalled.

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    Divya Chandrababu is an award-winning political and human rights journalist based in Chennai, India. Divya is presently Assistant Editor of the Hindustan Times where she covers Tamil Nadu & Puducherry. She started her career as a broadcast journalist at NDTV-Hindu where she anchored and wrote prime time news bulletins. Later, she covered politics, development, mental health, child and disability rights for The Times of India. Divya has been a journalism fellow for several programs including the Asia Journalism Fellowship at Singapore and the KAS Media Asia- The Caravan for narrative journalism. Divya has a master's in politics and international studies from the University of Warwick, UK. As an independent journalist Divya has written for Indian and foreign publications on domestic and international affairs.

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