MEDIA STATEMENT

Enhancing Singapore- collaboration to increase investments, trade and people-to- people exchanges

MR No.: 004/18 Singapore, Wednesday, 18 April 2018

1. Mr Chee Hong Tat, Senior Minister of State for Communications & Information and Health, visited and in Shandong province from 15 – 18 April 2018 with a delegation of Singaporean business leaders and officials. Mr Chee met his Co-Chair of the Singapore Shandong Business Council (SSBC), Vice Governor Ren Airong in Jinan, and the newly appointed Yantai Party Secretary Zhang Shuping in Yantai. They reaffirmed the positive relations and discussed ways to further increase bilateral investments and trade; investment cooperation in third countries under the Belt and Road Initiative; and people-to-people exchanges between Singapore and Shandong. These will form the key areas of cooperation for the 20th SSBC meeting to be held later this year in Shandong.

2. In Yantai, Mr Chee and Party Secretary Zhang witnessed the contract signing between Mapletree and the Yantai Government to build a S$52 million logistics warehouse facility in the Fushan of Yantai City. This is Mapletree’s third project in Shandong province, after Jinan and .

3. Mr Chee said, “This is my third trip to Shandong since 2017. I will be making regular visits to different parts of the province to get to know the government leaders and businesses, and to better understand how we can work together to promote more investments and trade, and encourage more people-to-people linkages between Singapore and Shandong. These include exchanges between our students and young working professionals to facilitate mutual learning, friendship and cooperation. We are also exploring collaborations with Shandong companies to invest in Southeast Asia by using Singapore as a regional hub, and

to invest together with Singapore companies in third countries under the Belt and Road Initiative.”

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About Singapore-Shandong Business Council (SSBC)

The Singapore–Shandong Business Council (SSBC) is the first bilateral business council formed between Singapore and a Chinese province. Inaugurated in November 1993, the Council aims to promote economic exchanges and cooperation between Singapore and Shandong Province. Mr Chee Hong Tat, Senior Minister of State (SMS) for Health & Communications and Information and Shandong Vice Governor Ren Airong, are the Co-Chairmen of the Council.

Comprising leaders, government officials and private sector representatives from Singapore and Shandong, the Council shall endeavour to achieve its objectives through the following means: a. exchange of economic data and information, and familiarize each other on the respective economic policies; b. promote, guide and assist in bilateral trade and investment; c. organize exchange activities between Singapore and Shandong to expand cooperation in various areas / sectors;

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d. resolve difficulties encountered in collaborative projects, establishing an excellent cooperation mechanise and an environment conducive for cooperation; e. other forms of work that both parties think are beneficial for economic and social development

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