Nov 25, 2014

    S'pore-Zhejiang meeting racks up project agreements worth over $3b

    FIFTEEN project agreements worth over $3 billion were signed at the 10th Singapore-Zhejiang economic and trade council meeting held in Singapore yesterday, the highest number of such signings since the event's inception in 2003.

    International Enterprise (IE) Singapore said the signings attest to the ongoing, strengthening ties between Singapore and Zhejiang, an eastern coastal province of China.

    The projects span the areas of education, environmental services, financial services, marine economy development and social management.

    This year's meeting was attended by Grace Fu, Minister in the Prime Minister's Office, and Zhejiang Party Secretary Xia Baolon, in his first official visit to Singapore.

    Mr Xia was accompanied by a 70-strong delegation comprising key officials and business leaders from Zhejiang.

    The delegation visited Marina Barrage, Gardens by the Bay, the Urban Redevelopment Authority, Hyflux and Pinnacle@Duxton to learn more about Singapore's experience in urban management.

    Ms Fu - who is also Second Minister for the Environment and Water Resources, and Second Minister for Foreign Affairs - said that she discussed at length with Mr Xia the direction for cooperation between Zhejiang and Singapore when they met in Zhejiang last November.

    "We agreed to focus on social management and urban planning, and promote modern services to support Zhejiang's developmental plan. I am pleased to see that we have delivered concrete outcomes today," she said.

    "We hope to see more collaborative projects that will bring long-term and sustained benefits to both Zhejiang and Singapore."

    In the first nine months of this year, Singapore's actual investments in Zhejiang reached $419 million. As of last month, cumulative actual investments have amounted to $4.96 billion with 1,063 projects.

    In the first nine months of this year, bilateral trade between the two increased 8.4 per cent to hit $4.54 billion.