Investments from Singapore have contributed to our development

Singapore a great friend of Sri Lanka - Hakeem:

COLOMBO: Post and Telecommunication Minister Rauf Hakeem said investments from Singapore over the years has contributed immensely towards Sri Lanka’s economic development.

Speaking at the Singapore National Day reception at Raja Bojun on Thursday, Hakeem stated that commercial relations between the two countries have seen a remarkable improvement in recent years.

He said: Relations between Sri Lanka and Singapore have always been cordial, abased on shared values, mutual respect and friendship.

“Sri Lanka established diplomatic relations with Singapore on July 27, 1970. Both countries have worked together in the international and regional forums for the mutual benefit of our two countries,” he said.

The Minister said a new chapter in bilateral relations began with Sri Lanka’s participation in the sixth Shangri La Dialogue in Singapore in June 2007.

“Sri Lanka, for the first time participated in the Shangri La Dialogue, which in a comparatively short period of existence has earned a name for itself as one of the best established security related forums in the region. It is a forum, which seeks to address challenges to make our region a safer place to live, to do business and to explore the full potential of our respective states,” he said.

He thanked the Singaporean Government for its assistance towards reconstructing three tsunami damaged schools: Rewatha National College, Vijitha Central College and Tangalle Primary School.

“We appreciate the human resource development training programmes provided by the Government of Singapore,” Hakeem said.

He said Singapore ranks within the first five countries in terms of the value of investment in Sri Lanka.

“The World Trade Centre is the first Singaporean Flagship Company in Sri Lanka. At present there are over 80 Singapore companies in the country with an investment of over US$ 230 million engaged in a range of activities such as infrastructure, services, software engineering and manufacturing of industrial products, food and agro-products, textiles, garments and jewellery ,” Hakeem said.