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Business Advice

S'pore's projects in China to help SMEs expand overseas

Small and medium-sized enterprises (SMEs) will be able to use Singapore's high-profile projects in Tianjin and Chengdu as a springboard for overseas expansion.
The Straits Times - September 4, 2012
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S'pore's projects in China to help SMEs expand overseas

 

SMALL and medium-sized enterprises (SMEs) will be able to use Singapore's high-profile projects in Tianjin and Chengdu as a springboard for overseas expansion with new agreements signed by the Singapore Chinese Chamber of Commerce and Industry (SCCCI).

SCCCI president Teo Siong Seng is heading a nine-member group of council members on a trip that started on Sunday and ends tomorrow.

The business association will be signing memorandums of understanding (MOUs) with Singapore-Sichuan Investment Holdings and Sino-Singapore Tianjin Eco-City Investment and Development (SSTEC) this week.

These are the joint-venture companies that are leading the development of key projects, the Singapore-Sichuan Hi-tech Innovation Park and the Sino-Singapore Tianjin Eco-City.

Mr Teo said: "The signing of these MOUs will set the stage for the SCCCI to engage our SME members and our trade association members in these strategic projects in Chengdu and Tianjin."

He added that with the potential of these two flagship projects "we intend to work closely with our members and create this springboard to identify tangible business opportunities".

SMEs can use the opportunity to participate in the projects to build up their track record, which will allow them to expand further in future.

Under the MOU, SCCCI will encourage its members to capitalise on investment potential and participate in the developments of both projects. Its counterparts will provide regular updates on the projects by organising seminars, workshops and business visits, and providing industry information and consultancy services.

The trip, organised by International Enterprise Singapore, is in conjunction with Prime Minister Lee Hsien Loong's current visit there.

The region has, in recent years, gained momentum in its economic development under the China Western Development Initiative.

This has created an important emerging market within China for Singapore's local industries to tap as a new manufacturing base and other business opportunities.

SSTEC chief executive Ho Tong Yen said: "Tianjin Eco-City is an excellent platform for Singapore companies to tap the growing sustainable development and North China market."

'Tianjin Eco-City is an excellent platform for Singapore companies to tap the growing sustainable development and North China market.' - Mr Ho Tong Yen, chief executive of Sino-Singapore Tianjin Eco-City Investment and Development

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