Singapore’s hosting of the upcoming summit between US President Donald Trump and North Korean leader Kim Jong Un will cost the nation “around $20 million”, said Prime Minister Lee Hsien Loong on Sunday (10 June).
“We may be able to recoup a little bit of that but I think it is a cost that we’re willing to pay and it’s our contribution to an international endeavour, which is in our profound interests,” said Lee during a press conference held at the summit’s International Media Centre.
He added that the summit is an opportunity to “show what Singapore can do” and expressed confidence that it would bring positive publicity to the country.
“The fact that we have been chosen as the site of the meeting… says something about Singapore’s relations with the parties – with America, with North Korea – (and) also our standing in the international community,” said Lee.
When pressed for a breakdown on the summit expenses, he said, “I think if you calculate the price of everything in this world, you will miss out the really important things.”
Lee added that while the government has been “cost conscious” in its approach to spending for the summit it has also worked to ensure that all operational requirements for the meeting – especially in terms of security – have been met.
PM Lee is scheduled to meet Kim at the Istana on Sunday, and Trump on Monday. The historic summit between Kim and Trump is set to take place at the Capella Hotel on Sentosa this Tuesday.