J OI N T M E DI A RELEASE

New collaboration platform to help Singapore SMEs enter Nantong market

An initiative under the Singapore- Collaboration Council, SCCCI and the Nantong government ink MOU to set up SME Collaboration Platform.

MR No.: 018/13 Singapore, Wednesday, 26 June 2013

1. In line with the Singapore-Jiangsu Cooperation Council’s (SJCC) efforts to explore business opportunities in the northern coastal belt of Jiangsu province, a Singapore- Nantong SME Collaboration Platform was officially formed today. The initiative was mooted by Minister of State (MOS) for Trade and Industry Teo Ser Luck when he called on Nantong Party Secretary Ding Dawei during a business mission to Nantong led by International Enterprise (IE) Singapore in April this year. MOS Teo is the Deputy Co- Chairman of the Singapore-Jiangsu Cooperation Council1 (SJCC); IE Singapore is the Singapore Secretariat.

2. Under the auspices of the SJCC and supported by IE Singapore, the Singapore Chinese Chamber of Commerce & Industry (SCCCI) Shanghai Representative Office will run the Singapore-Nantong SME Collaboration Platform. Witnessed by Mr Ding Dawei, Nantong Party Secretary, Ms Liane Ong, Regional Director () of IE Singapore and Mr Teo Siong Seng, Immediate Past President of SCCCI, the MOU was signed in Nantong by Mr Lim Wee Khee, Director of SCCCI Shanghai Representative Office and Ms Gu Shu Ying, Director of Nantong Bureau of Commerce (Nantong BOC).

3. MOS Teo said, “Jiangsu cities in the northern coastal belt are less saturated, with ample land and manpower. More importantly, many are growing rapidly, with a clear

1 The SJCC Co-Chairmen are Mr Heng Swee Keat, Singapore Minister for Education and Mr , Jiangsu Governor. MOS Teo and Mr Fu Ziying, Jiangsu Vice Governor are the Vice Co-Chairmen.

International Enterprise Singapore is the government agency driving Singapore’s external economy. Joint Media Release 26 Jun ‘13

focus on urbanisation and sustainable development. Apart from contributing their expertise to Nantong’s development, Singapore small and medium enterprises (SMEs) can leverage the city’s cost advantages, and close proximity to other Jiangsu cities and Shanghai, to grow their presence in the Yangtze River Delta region. This platform opens up a new channel for Singapore and Nantong to deepen exchanges and collaboration between our enterprises. It is a good example of the partnership between the government and our trade associations and chambers, to help SMEs internationalise.”

4. The three-year MOU will see SCCCI and BOC partner each other in business missions and investment promotion seminars for SCCCI member companies. The two will also engage in regular information exchanges and explore strategic partnerships for investment projects in Nantong.

5. This move is aligned with IE Singapore’s direction to help Singapore companies seek new opportunities in emerging Chinese cities. As the agency driving Singapore’s external economy, it facilitates the entry of Singapore companies into less-explored cities in northern Jiangsu, including Nantong, Lianyungang, Xuzhou and Yancheng. IE Singapore also partners trade associations and chambers such as the SCCCI to reach out to more SMEs. The SCCCI Shanghai Representative Office was set up since 2010.

Potential of Nantong 6. In Jiangsu, the local government has balanced growth across the province and welcomes project investments in the less developed northern Jiangsu cities, including Nantong. In 2012, Nantong’s GDP growth reached 11.8%2. With a population close to eight million, Nantong is a two-hour drive away from Shanghai. Strategically situated where the coastline converges with many waterways, it boasts a 203km-long coastline with 166km of the city located along riverbanks. Shipbuilding and offshore marine industries are traditional key drivers of Nantong’s growth, with alternative energy gaining strong momentum. In China, Nantong has the largest wind farm in terms of generation capacity and is the country’s largest wind power hub on the coast3. As of end 2012, the installed wind power capacity hit one million kilowatts, and is expected to reach two million kilowatts by 2015. It is also building biomass, waste and tidal power generation stations. These bring opportunities for Singapore companies in port

2 Source: Nantong Bureau of Commerce 3 Source: China Daily News Article “Nantong’s Prospects Good for 2013”, 6 March 2013

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development, shipbuilding & repair, marine supporting services, port machinery, new energy and logistics.

7. Being part of two overlapping policies issued by the Central Government, Nantong holds significant economic importance. It is one of the three core cities (the other two are Lianyungang and Yancheng) in Jiangsu to lead the economic development of coastal areas in the “Jiangsu Coastal Development Strategy”, and is included in the “Yangtze River Delta Regional Development Plan”.

8. Nantong is also home to the Suzhou-Nantong Science & Technology Park (Sutong STP), a project involving China-Singapore Suzhou Industrial Park Development Co. (CSSD), the Suzhou Industrial Park Administrative Committee (SIPAC) and Nantong Economic and Technological Development Area (NETDA). To be built as an ecologically protected, integrated new town within NETDA, the Sutong STP sees the transfer of Singapore’s experience and the replication of Suzhou Industrial Park’s success beyond Suzhou.

9. In 2012, Singapore-Nantong bilateral trade increased 4.7% to hit US$1.64 billion4, making Singapore Nantong’s fourth largest trading partner. As of end 2012, Singapore’s cumulative actual investments in Nantong reached US$1.04 billion5 with 276 projects. Singapore companies with established presence in Nantong include Keppel Land, Keppel Offshore & Marine Limited, Sembcorp Industries and Tee Yih Jia Group.

Annex: Chinese terms ---End---

Note to Editor Please use ‘IE Singapore’ or ‘IE’ if an acronym for ‘International Enterprise Singapore’ is required. In addition, unless otherwise stated, the use of statistics cited in our media releases, website or Statlink, should be attributed to IE Singapore.

Jointly issued by IE Singapore and SCCCI. For media enquiries, please contact:

Ms CHENG Kiat Loon Divisional Director (Media), Corporate Communications Group DID : + 65 6433 4465 Email : [email protected]

4 Source: Jiangsu Bureau of Commerce 5 Source: Jiangsu Statistics Bureau, Jiangsu DOFTEC

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About International Enterprise Singapore

International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. For the past 30 years, we have been spearheading the overseas growth of Singapore-based companies and promoting international trade. Our vision is a thriving business hub in Singapore with Globally Competitive Companies (GCCs) and leading international traders.

IE Singapore attracts global commodities traders to establish their home base in Singapore. Today, Singapore is a thriving trading hub for the energy, agri-commodities and metals & minerals trading clusters.

Through our Global Company Partnership, we work with Singapore-based companies to customise total solutions in capability building, market access and financing for their internationalisation.

Our global network of overseas centres in over 35 locations provides the necessary connections in many developed and emerging markets. Visit www.iesingapore.com for more information.

About Singapore Chinese Chamber of Commerce & Industry

Established in 1906, the Singapore Chinese Chamber of Commerce & Industry (SCCCI) is an internationally renowned business organisation and the apex body of the Chinese business community in Singapore. It is the founder of the biennial World Chinese Entrepreneurs Convention and the World Chinese Business Network (www.wcbn.com.sg), a global online business information portal. It plays a key and pro-active role in representing the interests of the local business community. In its continued drive for service excellence, the SCCCI has become the first business chamber in the region that has been awarded ISO 9001:2000 certification since 1995. In 2009, the Chamber successfully upgraded its ISO certification to ISO 9001:2008.

The SCCCI has a membership network of more than 140 trade associations and 4,000 corporate entities including large financial and business organisations, multinational corporations, government-linked companies, and small and medium enterprises from a wide spectrum of trades and industries. Together, they provide the business community with vast resources and an influential global Chinese business network for business, culture and education.

About Singapore-Jiangsu Cooperation Council

The Singapore-Jiangsu Cooperation Council (SJCC) was officially launched on 1 November 2007. Mr Heng Swee Keat, Singapore Minister for Education and Mr Li Xueyong, Jiangsu Governor are Co-Chairmen of the Council. Mr Teo Ser Luck, Minister of State for Trade & Industry and Mr Fu Ziying, Jiangsu Vice Governor, assumed the positions of the Vice Co- Chairmen of SJCC and are assisting the two Chairmen in work relating to the council.

The Council aims to promote cooperation between Singapore and Jiangsu Province beyond economic areas, including training, tourism and education exchanges. It is formed by political leaders, government officials and private sector representatives from Singapore and Jiangsu.

The scope of cooperation includes:  Regular high-level bilateral government official visits and exchange activities between the business communities of Singapore and Jiangsu.  Exchanging economic data and information to promote and guide bilateral trade and investment.  Resolving difficulties encountered in collaborative projects, establishing an excellent cooperation mechanism and an environment conducive for cooperation.  Other forms of work which are beneficial for economic and social development.

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ANNEX

CHINESE TERMS

Singapore-Jiangsu Cooperation Council 新加坡－江苏合作理事会 (SJCC) Singapore-Nantong SME Collaboration 新加坡-南通中小企业合作平台 Platform

Mr Heng Swee Keat 王瑞杰先生 Minister for Education 新加坡教育部长

Co-Chairman 联合主席 Singapore-Jiangsu Cooperation Council (SJCC) 新加坡－江苏合作理事会 Mr Teo Ser Luck 张思乐先生 Minister of State for Trade and Industry 新加坡贸易及工业部政务部长

Vice Co-Chairman 联合副主席 Singapore-Jiangsu Cooperation Council (SJCC) 新加坡－江苏合作理事会 Mr Li Xueyong 李学勇先生 Jiangsu Governor 江苏省长

Co-Chairman 联合主席 Singapore-Jiangsu Cooperation Council (SJCC) 新加坡－江苏合作理事会 Mr Fu Ziying 傅自应先生 Jiangsu Vice Governor 江苏副省长

Vice Co-Chairman 联合副主席 Singapore-Jiangsu Cooperation Council (SJCC) 新加坡－江苏合作理事会 Ms Liane Ong 王俐恩女士 Regional Director, East China, IE Singapore 新加坡国际企业发展局，中国司副司长 (华 东区) Mr Teo Siong Seng 张松声先生 Immediate Past President, SCCCI 新加坡中华总商会前任会长

Mr Lim Wee Khee 林维祺先生 Director of SCCCI Shanghai Representative 新加坡中华总商会上海代表处主管 Office Ms Gu Shu Ying 顾淑英女士 Director of Nantong Bureau of Commerce 南通市商务局局长

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