M E D I A STATEMENT Singapore-Nanjing Special Projects Cooperation Panel A New Platform To Boost Bilateral Economic Cooperation MOS Teo Ser Luck and Nanjing Mayor Ji Jianye co-chaired inaugural panel meeting in Nanjing today Panel meeting discussed work plan to deepen and facilitate mutual interest areas for significant projects such as YOG 2014 and the Singapore-Nanjing Eco Hi-Tech Island MR No.: 011/13 Singapore, Wednesday, 24 April 2013 1. Singapore and Nanjing concluded the inaugural Special Projects Cooperation Panel meeting in Nanjing this morning, co-chaired by Minister of State (MOS) for Trade and Industry Teo Ser Luck and Nanjing Mayor Ji Jianye. MOS Teo is the Deputy Co- Chairman of the Singapore-Jiangsu Cooperation Council 1 (SJCC), of which International Enterprise (IE) Singapore is the Singapore Secretariat. The meeting is part of a mission by MOS Teo to Shanghai and Jiangsu province (Nanjing and Nantong) from 22 to 24 April 2013. 2. The Singapore-Nanjing Special Projects Cooperation Panel (SNCP) is the first-of-its- kind city-level government platform initiated to deepen and facilitate mutual interest areas for significant projects such as the Youth Olympic Games (YOG) 2014 in Nanjing and the Singapore-Nanjing Eco Hi-Tech Island 2 (SNEHTI). This panel will benefit Singapore companies and help them explore collaboration opportunities with Nanjing. 1 The SJCC Co-Chairmen are Mr Heng Swee Keat, Singapore Minister for Education and Mr Li Xueyong, Jiangsu Governor. MOS Teo and Mr Fu Ziying, Jiangsu Vice Governor are the Vice Co-Chairmen. 2 The Sino-Singapore Nanjing Eco Hi-Tech Island is a private sector-led project with strong support from the SJCC. It is led by a Singapore consortium comprising Yanlord Land Group and Sembcorp Development. It aims to develop a modern ecologically-friendly work-live-play environment housing high- tech industries and innovative enterprises. International Enterprise Singapore is the government agency driving Singapore’s external economy. IE Media Statement 24 Apr’13 Supported under the SJCC, the formation of the SNCP was first announced at the sixth SJCC meeting in September last year. 3. Said MOS Teo, “This city-level Special Projects Cooperation Panel is an additional platform for our Singapore SMEs to know more about Nanjing and the collaboration opportunities it offers. Companies can gain greater market access through participation in major projects facilitated by this panel, such as the YOG and Singapore-Nanjing Eco Hi-Tech Island. With this platform, the governments of both sides can engage in direct dialogue, lend our support, or help resolve issues that Singapore companies may face in their projects." Eight key collaboration areas under SNCP 4. The work plan for the year ahead was discussed at the meeting. In addition to the two focus projects, YOG and SNEHTI, Singapore and Nanjing will explore strategic collaborations in eight key areas: i) Economy, ii) Environmental Services, iii) Education, iv) Culture & Tourism, v) Training, vi) Science & Technology, vii) Senior Living & Healthcare, as well as viii) Internationalisation of Nanjing Enterprises. 5. For the YOG, training, consultancy and provision of auxiliary services have been identified as key elements contributing to the success of the event. Main areas of collaboration include training of volunteers, brand marketing, temporary infrastructure services, public transport, new energy vehicles, IT and multimedia, as well as leveraging the SNEHTI as a premium site or showcase of eco-protection and development for selected YOG events. Singapore companies are currently pursuing projects in training, infrastructure and IT. Some of them have advanced to the project tender stage. Two Memoranda of Understanding (MOUs) inked 6. Two MOUs were signed at the meeting, strengthening bilateral cooperation: a. Lee Kuan Yew School of Public Policy (LKYSPP) and Nanjing Government will send government officials from Nanjing to attend LKYSPP’s three master degree programmes in English and one master degree programme in Chinese. The MOU included short-term Chinese Executive Education programmes, exchange visits and other suitable training projects. Page 2 of 4 IE Media Statement 24 Apr’13 b. The Singapore Chinese Chamber of Commerce & Industry (SCCCI) and the SNEHTI joint venture company will work together to facilitate the participation of Singapore’s Small and Medium Enterprises (SMEs) in the SNEHTI. Sustaining strong economic ties with Jiangsu 7. On 23 April, MOS Teo attended the “Singapore-Nanjing Eco Hi-Tech Island 2013 Investment Promotion Seminar” in Shanghai together with Nanjing Mayor Ji Jianye. The SNEHTI is one of two large-scale projects supported by the SJCC. The project recently received strong support with a cash injection of US$99 million (612 million yuan RMB3) from the JV company, split equally between the Nanjing government and Singapore consortium. 8. MOS Teo met Jiangsu Vice Governor Fu Ziying on 23 April. After the SNCP meeting today, MOS Teo called on Nanjing Party Secretary and Honorary Chairman for the SNCP, Yang Weize. MOS Teo will be concluding his trip by calling on Nantong Party Secretary Ding Dawei. 9. Singapore and Jiangsu have longstanding economic ties. In 2012, bilateral trade increased 8.8% to hit US$12.8 billion4 (S$15.8 billion5). Jiangsu also remains one of Singapore’s top investment destinations in China. Despite the economic slowdown last year, Singapore’s actual investments in Jiangsu increased 1.9% to reach US$2.1 billion6 (S$2.59 billion7). As of end 2012, Singapore’s cumulative actual investments in Jiangsu hit US$20.9 billion8 (S$25.8 billion9) with over 3,750 projects. As the province continues to prosper with its rapid economic transformation and urbanisation, Singapore companies can share capabilities to meet their needs, such as urban solutions, master planning, education, tourism, talent development as well as science and technological innovations. ---End--- 3 Converted using https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 19 Apr’13 4 Source: Jiangsu Statistics Bureau, Jiangsu DOFTEC 5 Converted using https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 19 Apr’13 6 Source: Jiangsu Statistics Bureau, Jiangsu DOFTEC 7 Converted using https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 19 Apr’13 8 Source: Jiangsu Statistics Bureau, Jiangsu DOFTEC 9 Converted using https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 19 Apr’13 Page 3 of 4 IE Media Statement 24 Apr’13 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. For media enquiries, please contact: Ms MOK Kai Lynn Manager, Corporate Communications Group DID : + 65 6433 4706 Email : [email protected] _______________________________________________________________________ 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-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. Page 4 of 4 .