Singapore-based cos eye growing BD market: Lee

ISTANA, Singapore, Mar 12 (Agencies): Singapore Prime Minister Lee Hsein Loong said today his first official meeting with Bangladesh Premier Sheikh Hasina in Singapore has created a good opportunity to strengthen partnership between the two countries.

Singapore-based companies are keen on the growing Bangladeshi market as significant opportunities are laying there in energy and port sectors, he said this while speaking at a luncheon hosted by him in honour of Prime Minister Sheikh Hasina at his official residence Istana.

Lee Hsein said Sembcorp is one of the largest investors in the energy sector with over US$ 1.1 billion investment in power plants and the Singapore Port Authorities (PSA) are interested to explore opportunities in Chittagong Port.

Mentioning that Bangladesh is located in the heart of South Asia and well-positioned to interact with ASEAN and its neighbours, he said the Bay of Bengal links to the Southeast Asia, India, and Sri Lanka.

The Singaporean prime minister expressed the hope that the signing of the updated Air Services Agreement between Singapore and Bangladesh would bring the people and businesses of the two countries closer and also help bring bilateral relations to greater heights.

"We should do more together as the government can facilitate collaboration between our companies and investors," he said.

The close friendship and growing partnership between Bangladesh and Singapore would be strengthened in the years to come, he added.

Recalling that Singapore was the first ASEAN country to formally recognise Bangladesh after liberation in 1971, Lee Hsein said since then the ties between the leaders, people and businesses of the two countries have been growing steadily.

Meanwhile, Bangladesh and Singapore signed on Monday two Memorandums of Understanding (MoUs) for collaboration over Public Private Partnership (PPP) and air services.

The instruments were signed following an official meeting between prime ministers of the two countries. Bangladesh Prime Minister Sheikh Hasina and Singapore Prime Minister Lee Hsien witnessed the signing ceremony.

The two deals are an MoU on Public Private Partnership signed between International Enterprise Singapore and the Public Private Partnership Authority of the Prime Minister's Office of Bangladesh and Confidential Memorandum of Understandings (MoUs) to expand the air services.

Secretary of Ministry of Civil Aviation and Tourism SM Ghulam Farooque and

Permanent Secretary of Ministry of Transport Loh Ngai Seng signed the MoU on cooperation in the areas of air services. CEO of Private Public Partnership Authority (PPPA) Syed Afsor H Uddin and Assistant CEO of International Enterprise of Singapore Tan Soon Kim singed another MoU between International Enterprise and PPPA on cooperation on Public Private Partnership.