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Singapore SME’s To be Assisted By The Singapore-Nanjing Panel

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Open Eyes Opinion {source: SGgov/IE Singapore}

Singapore

 Singapore-Nanjing Panel Helps SMEs expand into Nanjing

Two MOUs signed at third SNCP meeting co-chaired by Minister Teo Ser Luck and Nanjing Mayor Miao Ruilin.

Singapore, Wednesday, 1 April 2015
1. The third Singapore-Nanjing Special Projects Cooperation Panel (SNCP) meeting
convened in Nanjing, Jiangsu Province, today. It was co-chaired by Minister of State
(MOS) for Trade and Industry, Mr Teo Ser Luck, and Nanjing Mayor Miao Ruilin. The
Panel has been a key platform in strengthening bilateral cooperation in special projects
since it was established in 2013. It is a city-level platform supported under the
Singapore-Jiangsu Cooperation Council (SJCC), with International Enterprise (IE)
Singapore as secretariat. MOS Teo is the Vice Co-Chairman of the SJCC1
.
2. The SNCP is the first-of-its-kind city-level government platform with China initiated to
deepen and facilitate mutual interest areas between Singapore and Nanjing, including
key projects such as the Singapore-Nanjing Eco Hi-Tech Island (SNEHTI). The
development of the SNEHTI has shown good progress. At the meeting, it was shared
that a Singapore Business Centre will be set up and operated by the SNEHTI JV
company2 to help Singapore SMEs who are interested to enter the Chinese market
through Nanjing city.

____________

1-The SJCC Co-Chairmen are Mr Heng Swee Keat, Singapore Minister for Education and Mr Li Xueyong,
Jiangsu Governor. MOS Teo and Mr Fu Ziying, Jiangsu Vice Governor are the Vice Co-Chairmen.
2-Sino-Singapore Nanjing Eco Hi-Tech Island Development Co Ltd is a joint venture formed between
Singapore consortium comprise Yanlord Land Pte Ltd and Sembcorp Development Ltd and China
consortium comprise Nanjing Jianye District State Assets Operation and Hexi New Town Development
and Construction Department.

_____________

3. In order to better adapt and incorporate Singapore experiences and elements into theproject, two Memoranda pf Understanding (MOUs) related to the SNEHTI were also signed at the meeting:

i) MOU between SNEHTI and Jurong International for consultancy services and
in-depth study into:
a. The developmental positioning, overall strategic plan and industrial
development for SNEHTI (对南京生态科技岛的发展定位、总体战略和产
业发展的咨询研究) ;
b. Land use for SNEHTI(用地功能布局);
c. Industrial Park Management(园区管理模式);
d. Industrial positioning, marketing strategy and implementation plan for
the project (园区产业深化研究,营销策略及执行计划).

ii) MOU between SNEHTI and Singapore Cooperation Enterprise for services in:
a. Sharing of Singapore’s developmental, public governance and
administration experiences;
b. Training for SNEHTI officials and executives with a focus on the
strategies and implementation of policies to attract industries and
conglomerates to invest and set base on the island.
c. Engagement of relevant experts to provide an assessment, consultancy
and mentorship for investment promotion strategies.

4. Said MOS Teo, “Projects between Singapore and Nanjing are making good progress
because of the SNCP’s role in promoting closer collaboration between companies of
both sides, especially for our SMEs. This is one such platform that companies can
leverage to enjoy better access to Jiangsu and China, and overcome their business
expansion challenges more effectively.”

5. MOS Teo is in Nanjing for a three-day visit from 31 March – 2 April. He attended the
first Singapore-Jiangsu Young Business Leaders Forum organised by the Singapore
Business Federation’s Young Business Leaders Alliance and the Jiangsu Youth
Federation yesterday.

Initiatives to help SMEs

6. Occupying 100 sqm of office space, the Singapore Business Centre to be operated by
the SNEHTI JV company will be situated in the SNEHTI exhibition centre. It provides
Singapore companies with a flexible, low-cost solution to operate their offices. The JV
company will also provide one-stop services in business incorporation and license
application for Singapore companies who wish to set up in Nanjing. The Singapore
Business Centre is targeted to open in November 2015.

7. To help Singapore businesses gain a foothold in the Nanjing F&B sector, the Singapore
Food Manufacturer’s Association (SFMA) and SNEHTI JV company will offer exhibition
spaces on the Island to display Singapore food products.
The JV company will provide food manufacturers advice on how to access the Nanjing market successfully.

Growing bilateral economic ties

8. In 2014, bilateral trade between Singapore and Nanjing reached S$1.36 (US$1.08billion). Singapore is currently Nanjing’s 11th largest trading partner. Singapore’s cumulative actual foreign direct investments into Nanjing amounted to S$3.41 billion4(US$2.48 billion), with a total of 362 projects as of end 2014. Singapore was Nanjing’s top foreign investor country in 2014.

Annex 1: Speech by MOS Teo at the third SNCP meeting
Annex 2: Chinese terms
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