Singapore, 29 December 2020 – Singapore and Zhejiang will deepen their collaboration in trade and connectivity, innovation and sustainable urban management, as Zhejiang develops its digital economy and expands its Free Trade Zone. This was discussed at the 15th Singapore-Zhejiang Economic and Trade Council (SZETC) meeting, co-chaired by Senior Minister of State for Communications and Information and National Development, Sim Ann, and Zhejiang Vice Governor, Zhu Congjiu.
Despite the COVID-19 pandemic, Singapore-Zhejiang economic collaboration remains strong and resilient. In the first three quarters of 2020, Singapore’s cumulative actual investments into Zhejiang reached US$7.39 billion (+11.5 per cent year-on-year). To date, there are over 1,400 Singapore projects in Zhejiang, and multiple MoUs on waste management and urban planning.
To foster further collaboration between Singapore and Zhejiang, Enterprise Singapore and Zhejiang Department of Commerce also signed an MOU to drive cooperation and exchanges in the next two years under three key themes:
- Trade and Connectivity
- Innovation Exchanges
- Sustainable Urban Management
The new focus is in line with China and Zhejiang’s development priorities in digital economy, sustainability and maintaining trade and connectivity with the international markets, which support Singapore’s efforts to be a Global-Asia node for technology, innovation and enterprise.
In sustainable urban management, Zhejiang’s Future Communities Initiative 1 and integration with the wider Yangtze River Delta region also present opportunities for Singapore companies in urban planning and environmental services. Singapore’s RSP Architects signed an MoU with two Hangzhou design institutes to collaborate on future cities’ research and project implementation. Singapore’s environmental services firm, AnnAik Limited, will work with the Changxing Government to upgrade the water discharge capabilities of two wastewater treatment plants in Changxing, Huzhou.
Sim Ann said, “Singapore’s partnership with Zhejiang is founded on shared strengths and mutual interest. Over the last two decades, we have built strong collaborations and exchanges in areas from urban planning, youth development to internationalisation of Zhejiang companies. The pandemic has shown that our cooperation is strong and resilient, especially in the new areas that we have identified to deepen our cooperation. Trade and connectivity, innovation and sustainable urban management are not only ‘pandemic-proof’ but are also areas that will help power the future growth of Singapore and Zhejiang.”
– Construction+ Online
Source: Enterprise Singapore
