Finance
The Odisha team, led by Chief Minister Mohan Charan Majhi, wrapped off a four-day visit to Singapore, marking a critical milestone in the state’s attempts to attract global investments and form strategic alliances in important areas.
The tour, sponsored by Enterprise Singapore (ESG), the High Commission of India (HCI) in Singapore, Invest India, and FICCI, included more than 25 high-level B2G and G2G meetings, roundtables, interactive sessions, and site visits, paving the way for transformative growth potential.
Key Highlights of the Visit:
Roadshow and Investor Engagements: The flagship investor roadshow attracted over 400 participants from diverse sectors, including representatives from industry associations like SICCI, Singapore Business Federation, and Singapore Manufacturing Federation. Companies from Singapore, Malaysia, Thailand, Vietnam, and Japan actively participated, showcasing strong interest in Odisha’s industrial potential.
Skill Development Initiatives: Discussions at the Institute of Technical Education and Education Services (ITEES) highlighted plans for Phase 2 of the World Skill Centre (WSC) in Odisha, including the introduction of cutting-edge courses in AI, ML, AR, VR, and additive manufacturing. Long-term internships for WSC graduates in Singapore were also explored.
Petrochemicals and Green Energy: The delegation visited the Jurong Petrochemicals Complex (JPC), gaining insights into integrated industrial planning to model Odisha’s PCPIR at Paradip. Companies like Sembcorp and Linde expressed keen interest in upcoming developments at Paradip.
Ports and Logistics: The visit to Port of Singapore Authority and TUAS Port emphasized modern port-based logistics. Companies like AP Moller Maersk and Vopak showcased interest in ship recycling, container manufacturing, and multimodal logistics (MML) operations. These engagements reinforced Odisha’s vision to become a logistics hub in Eastern India.
Semiconductor Ecosystem Development: The visit to a marquee semiconductor equipment manufacturing company PEP Innovation Private Ltd provided insights into the requirements of a well functional electronics and semiconductor park. Learnings from these visits and interactions with companies operating in this sphere will be used while planning electronics and semiconductor parks in Odisha. Meetings, Incentives, Conferences & Exhibitions (MICE) Opportunities: The visit to Suntec Convention Centre highlighted requirements for establishing an integrated MICE zone.
Plans for a world-class exhibition centre in Bhubaneswar were discussed to position Odisha as a premier MICE (Meetings, Incentives, Conferences Exhibitions) destination.
Diaspora Engagement: The interactive session with the Odia diaspora highlighted their critical role in Odisha’s global outreach. It was one of the best attended community gatherings in Singapore.
The diaspora suggested further avenues of increasing economic and social relationship with the Singapore and ASEAN region. Suggestions included improved air connectivity, educational exchanges, and establishing a nodal office of the Government of Odisha for the ASEAN region, preferably in Singapore.
G2G Meeting Highlights: The Government of Odisha delegation engaged in high-level G2G meetings with Singaporean leaders, including the Deputy Prime Minister and Ministers of Trade & Industry, Senior Minister of State for Foreign Affairs, and Minister of Transport. These discussions focused on: Long-term planning principles for industrial development, civic infrastructure, and environmental sustainability. Strengthening partnerships in urban mobility, green shipping corridors, and chemical and petrochemical industries.
Opportunities for Singaporean companies to participate in the Utkarsh Odisha: Make in Odisha Conclave 2025.
Avenues for Continued Engagements: The upcoming visit of the President of Singapore to India and the ensuing Pravasi Bharatiya Divas 2025 as well as the Utkarsh Odisha: Make in Odisha Conclave in January 2025 provide further avenues for continued engagement with the Singapore Government as well as the network established with diverse sector industries government and other economic players.
Key take-aways:
Skill Development Phase 2 of World Skills Centre: New courses in emerging tech like AI, ML, AR, VR, Additive Manufacturing and increase in capacity.
Technical Collaboration with Surbana Jurong to model Paradip PCPIR in line with Jurong Complex, Ship recycling, container manufacturing, and MML to be prioritised.
Odisha to be integrated with the Green Shipping Corridor. 200-acre semiconductor park based on Singapore and Malaysia models
Maintenance, repair, and overhaul facility to be explored, Plans for Bhubaneswar Exhibition Centre to come up as an integrated MICE ZONE. Improved air connectivity and increased flight frequency with ASEAN countries. Development of Container Terminals across all upcoming ports, Enhanced global visibility and awareness for Odisha’s investment potential.
The Chief Minister Mohan Charan Majhi after reaching New Delhi remarked: “Our Singapore visit has been highly productive, offering valuable insights and fostering partnerships across key sectors. Odisha’s rich resources, skilled workforce, and progressive policies make it a prime investment destination. I invite global investors and the diaspora to join us at the Utkarsh Odisha: Make in Odisha Conclave 2025 and shape Odisha’s growth story.”
Industries Minister Sampad Chandra Swain added: “This visit has underscored Odisha’s strategic potential in sectors like ports, green energy, and skill development. We are committed to leveraging global expertise to drive sustainable growth and innovation.”
The visit lays the groundwork for future engagements, with the Pravasi Bharatiya Divas (8th-10th January 2025) and the Utkarsh Odisha: Make in Odisha Conclave 2025 (28th-30th January 2025) serving as critical forums for deepening collaborations and highlighting Odisha’s investment prospects.
Source: OCN
