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NewsAsia, 12 Mar 04
Plan for casino among resort, residential
project on Sentosa, Southern Islands
By Dawn Teo
SINGAPORE : Singapore is looking to raise the stakes in the global
game to attract talent and investment. For that, the goverment is
prepared to slaughter another sacred cow - a casino may be built on
a world-class resort and residential development on Sentosa and the
Southern Islands. At the same time, business costs will stay competitive.
So the Trade and Industry Ministry will review in a few months' time
whether to extend the rebates for industrial rentals.
Singapore has long resisted the idea of setting up a casino on its
shores for social reasons. But clearly, the stakes are rising as competition
among global business hubs intensifies. So, to create a vibrant world-class
living environment, the government is now willing to consider a casino
for the large-scale development on Sentosa and the Southern Islands.
Brigadier-General George Yeo, Trade and Industry Minister, said: "We
are keeping an open mind on what to have in this development, including
the possibility of having a casino. "Of couse, if we decide to have
a casino, we will need to put in place control measures to limit its
access by Singaporeans and to make sure that there is no organised
crime."
Sentosa and the Southern Islands will be linked by either boat or
a bridge and after some land reclamation, they'll cover over 500 hectares.
International consultants will also be roped in to draw up ideas for
the project, which will include hotels, marinas, spas and convention
centres.
At the same time, the government is keeping an eye on costs, especially
land costs which has long been a concern for many businesses. So besides
rental rebates, JTC is working on or thinking of new ideas like shared
facilities and services for its clients.
General Yeo also updated Parliament on the benefits of Singapore's
free trade agreements, saying plastics exports to Japan and processed
food shipments to New Zealand have jumped because of the deals. Small-
and medium-sized firms stand to gain as well, as 15 percent of applications
to Customs for what is known as "certificates of origin" come from
SMEs.
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