With persistently robust growth, China and India will fuel the region's growth and prosperity for the next several decades, Singapore's Minister for Trade and Industry Lim Hng Kiang said on Wednesday.

"Many Chinese and Indian cities are fast becoming magnets for investments, global talent and capital," Lim noted, adding that the development of the two regional driving forces will benefit other countries in the region.

Speaking at the inaugural conference of the Lee Kuan Yew School of Public Policy on China and India, Lim said that Singapore aims to become an investment gateway for China, and to participate in the country's town planning, finance and logistics sectors as well.

Talking about Singapore's response to the challenges of globalization, Lim stressed that the government has to keep the economy diversified and flexible, and enhance its competitiveness through innovation, talent and creativity.

He further explained that the city state is making efforts to enlarge its economic space by signing free trade agreements (FTAs) with other nations, as well as to help local companies to go global.

He reiterated Singapore's support for the set up of an Economic Community with other members of the Association of the Southeast Asian Nations (ASEAN) so as to boost regional economic integration.