S'pore, China firms can jointly explore external markets
By Wong Yee Fong, Channel NewsAsia's China correspondent | Posted: 02 November 2007 2148 hrs
NANJING, CHINA: Singapore and Chinese enterprises can draw on their different strengths and complement each other to explore external markets such as the Middle East.
Singapore's Minister of State for Trade and Industry, Mr Lee Yi Shyan, said this after attending a business forum in China's Jiangsu province.
Singapore and Jiangsu have enjoyed close ties since they developed the Suzhou Industrial Park together in 1994.
The long-time partners are now in a position to jointly explore opportunities abroad, said Mr Lee.
He said: "For instance, our architects or engineering firms can partner with some of the construction firms in China to undertake some of the largest projects in the Middle East.....civil engineering, construction, airport, seaport or waste treatment or power plant."
More and more Chinese companies are seeking management know-how and expertise to help them position themselves in global markets.
Mr Lee said Singapore plays a unique role with its location, being seven hours away from China and the Middle East.
If such a partnership is realised, perhaps some of the Chinese labels would be found in the Middle East some day.
The Singapore Minister of State also proposed possible joint business missions to India, Russia and Southeast Asia.
Mr Lee was speaking after attending the Jiangsu Enterprises Internationalisation Forum held in the provincial capital Nanjing.
More than 100 businessman and government officials from Jiangsu and Singapore attended the event organised by IE Singapore.
Ma Guiliang, assistant to general manager of Jiangnan Environmental Protection Company, said: "I'm interested in the way countries like Singapore control atmospheric pollution. "
Choe Peng Sum, chief executive officer of Frasers Hospitality, said: "We are looking at several areas in Wuxi, Suzhou. Nanjing itself has a lot of opportunities, apart from the one we have."
Frasers Hospitality (a Singapore property management company) and Yanlord Land (a Singapore property developer) have jointly launched their first serviced residence in Hexi, a new central business district.
It is the first of ten such residences by Frasers in China. - CNA/ir