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Singapore Firms' Interest to Tap New Developments in the Middle East Draws Them to Qatar and Kuwait

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Singapore Firms' Interest to Tap New Developments in the Middle East Draws Them to Qatar and Kuwait MEDIA STATEMENT 38 companies head to Nantong, Jiangsu province to explore business opportunities Minister Khaw Boon Wan and Minister of State Lee Yi Shyan lead business mission to Nantong from 21 – 22 October 2010; fourth Singapore-Jiangsu Cooperation Council meeting to be held on 22 October 2010. MR No.: 062/10 Singapore, Monday, 18 October 2010 1. Mr Khaw Boon Wan, Minister for Health and Mr Lee Yi Shyan, Minister of State (MOS) for Trade & Industry and Manpower will be leading a delegation of 50 representatives from 38 Singapore-based companies on a business mission to Nantong, Jiangsu province from 21 – 22 October 2010. The mission is organised by International Enterprise (IE) Singapore in conjunction with the fourth Singapore- Jiangsu Cooperation Council1 (SJCC) meeting taking place on 22 October. The SJCC is co-chaired by Minister Khaw and Jiangsu Party Secretary Liang Baohua, with MOS Lee and Jiangsu Vice Governor Zhang Weiguo as the Deputy Co- Chairmen. IE Singapore is the Singapore Secretariat to the SJCC. 2. The delegation comprises Mr Sam Tan, Parliamentary Secretary for Trade & Industry and Information, Communications & the Arts, as well as officials from the Ministry of Trade & Industry, Ministry of Education, Consulate-General of Singapore in Shanghai, IE Singapore, Building & Construction Authority, Economic Development Board, Infocomm Development Authority and Singapore Tourism Board. The 38 companies span industries such as environmental services, urban infrastructure, transport and logistics, education services, financial services and also include members of the Enterprise 50 Association. 1 The SJCC is one of the seven bilateral councils between Singapore and China. The others are the Singapore-Shandong Business Council, Singapore-Sichuan Trade and Investment Committee, Singapore-Liaoning Economic and Trade Council, Singapore-Zhejiang Economic and Trade Council, Singapore-Tianjin Economic and Trade Council and Singapore-Guangdong Collaboration Council. Nothing in connection with this communication should be regarded as IE Singapore or its employees rendering, or holding out as rendering, auditing, accounting, tax, legal, advisory, consulting or other professional service or advice. This communication is made by IE Singapore and its employees in good faith but without any representation or warranty of any kind as to its completeness, correctness, accuracy, suitability, reliability or otherwise. Neither IE Singapore nor its employees shall be held responsible for any consequence or action arising out of or in connection with the use of the contents of this communication. IE Media Statement 18 Oct 10 3. In response to the rapid developments in the cities in north Jiangsu, the SJCC meeting will be held in Nantong, which is one of the fastest growing coastal cities in north Jiangsu and the Yangtze River Delta (YRD) region. The meeting will review the Council’s initiatives and achievements over the past three years since it was established in November 2007. At the same time, the two Deputy Co- Chairmen will sign a Memorandum of Understanding (MOU) to extend the Council for another three years and to widen and deepen bilateral economic cooperation, especially for Singapore companies to explore opportunities beyond the traditional cities in south Jiangsu. During the council meeting, several other MOU/agreement signings involving IE Singapore, the municipal government authorities, Singapore- based companies and their business partners will be inked. 4. On 22 October afternoon, the delegation will visit the Suzhou-Nantong High Tech Park, where groundbreaking ceremonies of 10 projects will take place. During the mission, Minister Khaw and MOS Lee will call on Jiangsu Party Secretary Liang Baohua, Vice Governor Zhang Weiguo and key municipal leaders of Nantong. 5. Prior to Nantong, MOS Lee will officiate at the YCH DistriPark in Shanghai Yangshan Free Port on 19 October. On 20 October, Minister Khaw and MOS Lee will grace the official opening of the Singapore Chinese Chamber of Commerce and Industry’s (SCCCI) first overseas representative office set-up in Shanghai. Bilateral trade and investment 6. From January to August 2010, bilateral trade between Singapore and Jiangsu amounted to US$6.17 billion, a strong increase of 25.5% over the same period in 2009. In these eight months, Singapore’s exports to Jiangsu amounted to US$2.7 billion while Singapore’s imports from Jiangsu reached US$3.5 billion. Singapore was Jiangsu’s ninth largest trading partner in 2009. (Source: Jiangsu Department of Foreign Trade and Economic Cooperation) 7. In the first eight months of 2010, Singapore’s actual foreign direct investments (FDI) in Jiangsu reached US$860 million with 117 projects. As of end August 2010, the cumulative actual FDI amounted to US$16.3 billion, with a total of 3,434 projects. In 2009, Singapore was the fourth largest investor in Jiangsu. Also in 2009, Jiangsu was the top recipient of Singapore’s overall FDI in China, accounting for about 37% of the FDI. (Source: Jiangsu Department of Foreign Trade and Economic Cooperation) Page 2 of 4 IE Media Statement 18 Oct 10 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. Issued by IE Singapore on behalf of SJCC. For media enquiries, please contact: Ms CHENG Kiat Loon Senior Manager, Media and Marketing Communications Corporate Communications Group DID : + 65 6433 4465 Hp : + 65 9799 0904 Email : [email protected] _______________________________________________________________________ About International Enterprise Singapore International Enterprise (IE) Singapore is an agency under the Ministry of Trade and Industry spearheading the development of Singapore’s external economic wing. Our mission is to promote the overseas growth of Singapore-based enterprises and international trade. With a global network in over 30 locations and our 3C framework of assistance – Connections, Competency, Capital, we offer services to help enterprises export, develop business capabilities, find overseas partners and enter new markets. At the same time, we work to position Singapore as a base for foreign businesses to expand into the region in partnership with Singapore-based companies. Please visit www.iesingapore.com for more information. About Singapore-Jiangsu Cooperation Council The Singapore-Jiangsu Cooperation Council (SJCC) was officially launched on 1 November 2007. Mr Khaw Boon Wan, Singapore Minister for Health and Mr Liang Baohua, Jiangsu Party Secretary are Co-Chairmen of the Council. Mr Lee Yi Shyan, Minister of State for Trade & Industry and Manpower, and Mr Zhang Weiguo, Jiangsu Vice Governor, assumed the positions of the Deputy 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 shall include: • 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. Page 3 of 4 IE Media Statement 18 Oct 10 ANNEX Chinese terms International Enterprise (IE) Singapore 新加坡国际企业发展局 (简称：企发局) Mr Khaw Boon Wan 许文远先生 Minister for Health 新加坡卫生部长 Co-Chairman 新加坡-江苏合作理事会新方联合主席 Singapore-Jiangsu Cooperation Council Mr Lee Yi Shyan 李奕贤先生 Minister of State for Trade & Industry and 新加坡贸易及工业部兼人力部政务部长 Manpower 新加坡-江苏合作理事会新方联合副主席 Deputy Co-Chairman Singapore-Jiangsu Cooperation Council Mr Sam Tan 陈振泉先生 Parliamentary Secretary for Trade & Industry 新加坡贸易及工业部兼 and Information, Communications & the Arts 新闻、通讯及艺术部政务次长 Mr Liang Baohua 梁保华先生 Jiangsu Party Secretary 江苏省委书记 Co-Chairman 新加坡-江苏合作理事会苏方联合主席 Singapore-Jiangsu Cooperation Council Mr Zhang Weiguo 张卫国先生 Jiangsu Vice Governor 江苏省副省长 Deputy Co-Chairman 新加坡-江苏合作理事会苏方联合副主席 Singapore-Jiangsu Cooperation Council Page 4 of 4 .
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