The Singapore Indian Chamber of Commerce and Industry (SICCI) has helped strengthen economic links between Singapore and India by providing local firms with market outreach and advisory on the Indian market, former Prime Minister Lee Hsien Loong has said.
“These efforts have helped us to benefit from India’s tremendous growth potential,” Lee said in a farewell letter to the SICCI after relinquishing the premiership on Wednesday in a political leadership renewal process of the People’s Action Party which has ruled the prosperous city-state for six decades.
He noted SICCI’s significant contribution to Singapore’s economic growth, highlighting, “You helped many local Indian firms grow their businesses through transformation, innovation, and overseas expansion."
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SICCI has also been a close partner of the government, providing valuable feedback on government policies, said Lee who led Singapore for 20 years and now sits as a senior minister in the Cabinet headed by Lawrence Wong -- sworn in on Wednesday as the fourth Prime Minister of the city-state.
“For instance, when we negotiated the Comprehensive Economic Cooperation Agreement (CECA), SICCI gave useful inputs which guided our negotiators to improve its provisions,” said the 72-year-old Lee, who served as the third prime minister of the city-state, now established as an Asian financial hub with globally-linked trading centres.
The chamber has also played a big role in the community, supporting charities and social projects to uplift those in need, he noted in the letter to SICCI chairman Neil Parekh.
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“I am grateful for SICCI’s support to the government and the Indian business community in all these years,” he said, urging the chamber to support Prime Minister Wong.
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