Illustrative image (Source: Internet)

Hanoi (VNA) – Indian business leaders have called on Singapore to cooperate in Artificial Intelligence (AI) in such areas as smart cities, 5G, electronic manufacturing, infrastructure and disseminating social issues in health and education.

Meanwhile, Singaporean business leaders called for reduction in tax rates under the Singapore-India Tax Treaty from the current 5 percent to 10 percent, or even 7.5 percent.

These proposals came following the signing of a Joint Intention Document as part of the first Singapore-India CEOs Forum held on November 14, reported the Press Trust of India (PTI).

The document, signed by Former President of the Federation of Indian Chambers of Commerce and Industry Harshavardhan Neotia and Chairman of Singapore Business Federation’s South Asia Business Group Gautam Banerjee, aims to double bilateral investments to 250 billion USD in the next five years.-VNA