Identifier
Created
Classification
Origin
09SINGAPORE78
2009-01-23 09:03:00
UNCLASSIFIED
Embassy Singapore
Cable title:
SINGAPORE - NO PROTECTIONIST PROPOSALS ON INVESTMENT
how-toR 230903Z JAN 09 FM AMEMBASSY SINGAPORE TO SECSTATE WASHDC 6294
UNCLAS SINGAPORE 000078
E.O. 12958: N/A
TAGS: ECON EINV SN
SUBJECT: SINGAPORE - NO PROTECTIONIST PROPOSALS ON INVESTMENT
REF: STATE 4706
In response to reftel, Singapore has not announced plans to adopt
restrictions on sovereign wealth fund (SWF) investments or new
investment barriers. Singapore has long been open and welcoming to
foreign investment and there are no indications that attitude would
not continue even given the current economic climate. The United
States has a bilateral Free Trade Agreement with Singapore which
includes provisions on investment. Singapore also has two large
SWFs, the Government Investment Corporation and Temasek Holdings,
which actively invest overseas. Singapore is fully in favor of open
investment policies toward SWFs. Singapore joined U.S. Treasury and
Abu Dhabi in a tripartite agreement on principles for SWFs in April
2008 and continues to be an active participant in the IMF's
International Working Group on SWFs.
SHIELDS