Prime Minister of Singapore Lee Hsien Loong arrived in India for a five day visit(October 3 to October 7) aimed at deepening bilateral ties in a range of areas including trade and investment.
About Lee Hsien Loong :
Lee Hsien Loong is a Singaporean politician and the current Prime Minister of Singapore. In 2004, Lee became the nation’s third prime minister after taking over the leadership of the People’s Action Party (PAP) when former prime minister Goh Chok Tong stepped down from the position.
- Lee subsequently led his party to victory in the 2006, 2011 and 2015 general elections. He began his current term on 15 January 2016. Lee is the eldest son of Singapore’s first Prime Minister,Lee Kuan Yew.
- Lee graduated fromTrinity College, Cambridge University as senior wrangler in 1974 and later earned a Master of Public Administration at Harvard’s Kennedy School of Government.
- From 1971 to 1984, he served in the Singapore Armed Forces where he rose to the rank ofbrigadier general.
- He won his first election for Member of Parliament in 1984, contesting as a member of the People’s Action Party. Under Singapore’s second prime minister, Goh Chok Tong, Lee served as the Minister for Trade and Industry, Minister for Finance and Deputy Prime Minister.
His Visit to India :
The Singaporean Prime Minister was accompanied by his wife Ho Ching, a number of key Ministers and senior officials.
- During the visit, he was hosted for lunch by Prime Minister Narendra Modi and the two leaders hold bilateral talks to explore ways to bolster ties between the two countries.
- Both leaders witnessed the exchange of an MOU on cooperation in industrial property between the Department of Industrial Policy and Promotion and Singapore’s Intellectual Property Office.
Besides that, two more MOUs will be exchanged on cooperation on
- Establishment of a North East Skills Centre in Assam between the Assam Government and the Institute of Technical Education Education Services, and
- Cooperation in skills development between the National Skill Development Corporation and Singapore’s Institute of Technical Education Education Services.
Both shared their know-how with them as goodwill and it is a base from which we can talk about other things, other areas of cooperation in tourism, projects, investments, hotels.
- Investors in Singapore may also be hit if India amends its 2006 tax treaty with the Republic so investors will no longer be able to avoid capital gains tax.
- India’s review of its tax treaty with Mauritius to end round-tripping of black money (illegally undeclared income) from India in May this year spurred worries that it would be making similar changes to its agreement with Singapore.
MoUs were signed in the field of industrial property cooperation and skill development
India and Singapore signed three agreements, including two in the area of skill development, following delegation-level talks headed by Prime Minister Narendra Modi and Singapore PM Lee Hsien Loong.
- One memorandum of understanding (MoU) was signed between Singapore’s Institute of Technical Education (ITE) Education Services (ITEES) and India’s National Skill Development Corporation on collaboration in technical and vocational education and training.
- Another MoU was signed between the Assam government and ITEES Singapore also on collaboration in technical and vocational education and training.
- A third MoU was signed in the field of industrial property cooperation.
- It is one of the Country in Asia
- Capital : Singapore
- Currency: Singapore dollar