IE Singapore has initiated the establishment of Andhra Pradesh-Singapore Business Council and Innovation Corridor to help Singapore companies enter Andhra Pradesh more easily.
The Andhra Pradesh-Singapore Business Council, led by the Singapore Business Federation (SBF) and the Confederation of Indian Industry (CII), will help to drive private sector business collaboration to strengthen Singapore-Andhra Pradesh economic ties.
The council will comprise company representatives from both Andhra Pradesh and Singapore, according to a joint press statement by Singapore Business Federation and IE Singapore. It aims to drive private sector partnerships between Singapore and Andhra Pradesh across priority sectors including smart infrastructure, agrifood and logistics. The council will also identify common projects, conduct business matching, and hold regular missions and events.
With the Innovation Corridor, Singapore companies can also pilot innovative urban solutions and scale up in Andhra Pradesh. It is a platform to discover, pilot and scale Singapore’s innovative urban solutions in Amaravati, its capital city, with the aim to expand across India and rest of the world.
These were announced at the 24th Partnership Summit in Andhra Pradesh on Monday, Feb 26.
SBF and CII signed a MOU for the Andhra Pradesh-Singapore Business Council, witnessed by Minister S. Iswaran, Singapore Minister for Trade and Industry (Industry) and Andhra Pradesh Chief Minister Nara Chandrababu Naidu. These follow the MOU signed last year for greater collaboration between Singapore and Andhra Pradesh in economic development through identifying business opportunities and sharing expertise.
“Building upon the strong Government-to-Government ties between Andhra Pradesh and Singapore, these two initiatives will deepen our partnership and open up new avenues for Singapore companies to access opportunities in Andhra Prades," said Mr Tan Soon Kim, Assistant Chief Executive Officer (CEO) of IE Singapore. "The Andhra Pradesh-Singapore Business Council will promote regular interaction and business collaboration between the private sectors of Andhra Pradesh and Singapore, while the Innovation Corridor will provide more direct access for Singapore’s innovative urban solutions to be implemented in Amaravati.”
Mr Ho Meng Kit, CEO of SBF and Mission Leader, commented, “The establishment of the Council is timely as SBF steps up our engagements with Andhra Pradesh. We have engaged the Council and Secretariat of our fellow Trade Associations and Chambers (TACs) on Singapore’s involvement in Andhra Pradesh over the past months. SBF will be working closely with them moving forward, to further structure and translate these opportunities to the wider Singapore business community. Some of the other key sectors in the immediate term include technology; food manufacturing and processing; and tourism and hospitality.”