Singapore and Sichuan firms team up for business deals

Amongst the deals is the establishment of the Singapore Innovation Centre for SMEs in Sichuan.

22 Singapore companies inked deals with their counterparts in Sichuan as the province moves to its next phase of economic transformation through innovation, an announcement revealed.

The memoranda of understanding for said deals were signed at the 19th Singapore-Sichuan Trade and Investment Committee (SSTIC) meeting held in Chengdu, Sichuan.

“Singapore is an ideal partner for Sichuan companies to expand regionally and offer services in areas related to trade connectivity, financing and professional services,” prime minister’s office minister and SSTIC co-chairman Ng Chee Meng said.

Aside from innovation, both parties agreed to focus efforts on facilitating more collaboration opportunities for Singapore small and medium enterprises (SMEs) in Sichuan and to work with Sichuan enterprises to leverage Singapore as a launchpad into the region, in line with the Belt and Road Initiative.

Amongst the MOUs signed is a partnership to set up the 28,000 sq ft Singapore Innovation Centre to build a platform for Singapore enterprises for market access into West China. The center will provide spaces for SMEs and startups, as well as innovation ecosystem players such as incubators and accelerators.

Meanwhile, Sembcorp Development, Singapore Press Holdings (SPH), and the Sino-Singapore (Chengdu) Innovation Park Development will team up to set up the health and wellness hub in Sino-Singapore (Chengdu) Innovation Park (SSCI).

Moreover, Sembcorp Development and Sino-Singapore (Chengdu) Innovation Park Development will also partner to establish a customised office space with shared facility within the Singapore Innovation Centre for SMEs looking to internationalise into Chengdu.

Also joining the roster of deals is the Singapore Fintech Association (SFA) and Sichuan Association of Fintech Strategic partnership which will promote and support fintech startup projects in Singapore and Sichuan.

Meanwhile, OUE Lippo Healthcare and Dujiangyan Government Strategic willbuild the Dujiangyan Lippo Hospital whilst the investment agreement between Mapletree Group and Nanchong Gaoping Government Investment will develop a modern logistics park at Nanchong Gaoping District.

Source: Singapore Business Review