Further boost to ties with Singapore

By Our Special Correspondent

BANGALORE, JUNE 29. The Chief Minister, Mr. S. M. Krishna, who returned today after a three-day official tour of Singapore, said that the bilateral and trade relationship between Singapore and Karnataka has further improved with the former looking up to the State as having a distinct advantage over other States.

He told presspersons that although he could not immediately quantify the new investments from Singapore, there was abundant scope for a whole range of investments in Bangalore in particular and Karnataka in general. While a large chunk of the investments could be expected in the information technology sector, there were several other areas such as telecommunication, roads and bridges, tourism and so on, in which Singapore evinced keen interest. Bangalore in particular had a high reputation in Singapore, he said.

Mr. Krishna said the Prime Minister of Singapore, Mr. Goh Chok Tong, had expressed his pleasure and satisfaction over the full occupancy at the Singapore Technology Park on the outskirts of Bangalore.

Following the growing understanding with Singapore, plans were afoot to go ahead with the second phase of the technology park at an estimated cost of Rs. 675 crores.

Singapore had expressed its desire to go in for the third phase of the technology park. The Chief Minister held talks with the ministers of Trade, Industry, Communications and Information Technology apart from leading businessmen and industrialists including, Mr. Danabalan, the chief executive of the holding company of Singapore Airlines, Singapore Telecom and Singapore Shipping.

Discussions were held with the members of the Singapore Indian Chambers of Commerce and other business organisations.

The road show held for a special group of around 300 invitees was stated to be one of the best in Singapore in recent times and was well attend, the Chief Minister said.

While the first phase of the technology park comprised a built- up area of around 1.25 million square feet, the demand for space by the IT industry in Karnataka at the end of the Global Investors Meet had been estimated at around 22.9 million square feet. The Singapore Prime Minister, who was told of the big spurt in IT industry's demand for space, had expressed his appreciation and was keen on the quick expansion of the technology park.

Singapore and Karnataka entered into an understanding on bilateral trade and cooperation in 1994.

Mr. Krishna said an important outcome of the bilateral discussions was the direction given by the Singapore Prime Minister to the Jurang Town Corporation to prepare a comprehensive development plan for the implementation of the IT corridor in Bangalore. The discussions with Singapore Telecom were all the more relevant following the Union Government's move to relax its grip on the telecommunications sector. The State Government would not offer any special tax incentive to the investors from Singapore, Mr. Krishna added.

High Court Bench

Asked on the demand for High Court Bench from several districts of North Karnataka, the Chief Minister said there was nothing wrong with the demand. The Government was ready for discussions with the agitators and was confident of convincing them to withdraw their agitation.

The Chief Minister, Mr. S.M.Krishna, who returned to Bangalore from Singapore on Thursday, being accorded a warm reception by his Cabinet colleagues and partymen.

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