Strengthening Ties and Developing Opportunities in Wuxi and Nanjing

中国, 2004年3月25日

Celebrating the 10th Anniversary of Wuxi-Singapore Industrial Park and the signing of an MOU between IE Singapore and Wuxi Municipal Government

1. Singapore Acting Minister for Health Khaw Boon Wan and Jiangsu Vice-Governor Zhang Weiguo were in Wuxi today to grace the 10th anniversary celebration of Wuxi-Singapore Industrial Park (WSIP). International Enterprise Singapore (IE Singapore) also inked an MOU with Wuxi Municipal Government on the setting up of Wuxi Centre in Singapore which would facilitate Wuxi enterprises in their efforts to internationalise as they expand their businesses.

2. In his message, Minister Khaw remarked that he was pleased with the economic activities and bilateral relations between China and Singapore. Sending a strong positive message to the Chinese companies present, Minister said, “Singapore actively supports China’s ‘Venturing Out’ or ‘Zou Chu Qu’ policy and we welcome Wuxi companies to use Singapore as a springboard into ASEAN and India.”

WSIP – A Model of Success

3. WSIP was jointly established in December 1993 by the Wuxi New District Economic Development (WND) Corporation and a Singapore consortium led by SembCorp Industries (SCI). Work on the third phase of the park is currently underway, bringing the Park’s total area to 418 hectares when completed.

4. Both parties were able to leverage on their complementary strengths to develop WSIP. In 2003, WSIP reported a profit of US$2.3 million. Plans to list WSIP within the next 2-3 years are also in the pipeline.

5. Noting WSIP’s remarkable development, Minister Khaw remarked,“WSIP reflects the rapid development and transformation in China. Within a short period of 10 years, it has rapidly evolved into a leading industrial park, a well-planned, cosmopolitan hi-tech industrial home for manufacturing companies.”

6. Echoing Minister’s views that WSIP had transformed tremendously in the past decade, Mr Peter Seah, Chairman of SembCorp Industries said that WSIP manages 418 hectares of the 1000-hectare land, and houses more than 60 multinational corporations and Chinese enterprises. “Together, the companies in WSIP have created over 30,000 jobs in high value-added industries such as electronics, plastics, machinery and precision engineering. The export value from WSIP in 2003 was close to US$2.2 billion,” he said.

Wuxi Centre to be set up in Singapore

7. Also at the event, an MOU between IE Singapore and Wuxi Municipal Government was signed. The MOU signified the parties’ collaboration to establish Wuxi Centre in Singapore. The Centre would facilitate Wuxi companies to internationalise and help them set up operations in Singapore and explore partnerships with Singapore-based companies at a lower cost.

8. The establishment of Wuxi Centre is in line with IE Singapore’s Hub Initiative that was announced on 17 November 2003 during the launch of the China Zhejiang Centre in Singapore. Under the MOU, IE Singapore will:

i. Shortlist suitable office space for the  Wuxi Centre;
ii. Provide green-lane assistance in  Representative Office and Employment Pass applications of Centre Managers  appointed by Wuxi Government;
iii. Train Centre Managers in various aspects of doing  business in Singapore and help them and Wuxi companies under  the Centre to assimilate into Singapore business environment; and
iv. Co-organise marketing activities to raise the  profile of the Centre and provide business matching facilitation  between Singaporean and Wuxi companies.

9. Said Mr Jack Chia, Senior Director, International Operations (China), IE Singapore, “Since the opening up of China, Singapore and Wuxi have already established positive relations through Wuxi Singapore Industrial Park ten years ago. The signing of the MOU between IE Singapore and Wuxi Municipal Government today reinforces the strategic long-term partnership between Singapore and Wuxi. Through this partnership, we would like to encourage more Singapore-based companies to use Wuxi Centre to collaborate with Wuxi companies to achieve greater success in their expansion into Singapore and the region beyond. This initiative is also in line with IE Singapore's Year of Internationalisation 2004.""

Close Bilateral Economic Relationship

10. China is one of Singapore’s key economic partners. In terms of trade, China is Singapore’s fourth largest trading partner. In 2003, total trade between Singapore and China amounted to S$36.9 billion, with domestic exports to China standing at S$17.6 billion. According to the statistics provided by the China Embassy, Singapore is China’s 7th largest investor. In 2003, the number of bilateral projects was 1,144, an increase of 23% from 2002. In addition, Singapore’s total trade with Jiangsu has been positive. It amounted to US$1.84 billion in 2002. The province is expected to grow further with more foreign investments.

11. The signing of the MOU between IE Singapore and Wuxi Municipal Government underscored the close economic relations between Singapore and China, and would most certainly bring bilateral relations to new heights.

Jointly issued by: International Enterprise Singapore

SembCorp Parks Management Pte Ltd

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Note to Editor

Please use ""IE Singapore"" or ""IE"" if an acronym for ""International Enterprise Singapore"" is required.

About IE Singapore

International Enterprise Singapore – or IE Singapore for short – is the lead agency spearheading Singapore’s efforts to develop its external economic wing. Our mission is to help Singapore-based companies grow and internationalise successfully.

We offer a wide range of services in Singapore and in 36 locations worldwide to help Singapore-based companies globalise. In China, IE Singapore has presence in eight locations: Shanghai, Beijing, Dalian, Qingdao, Guangzhou, Chengdu, Chongqing and Hong Kong.

Through a 3Cs framework of assistance - Competency, Connections and Capital, we provide market information, and assist enterprises in building up their business capabilities and finding overseas partners. At the same time, IE Singapore works to position Singapore as a base for foreign businesses to expand into the region in partnership with Singapore-based companies.

About The Wuxi-Singapore Industrial Park

The Wuxi-Singapore Industrial Park (WSIP) is a world-class facility that offers an excellent environment for high-tech and electronics manufacturing.

Strategically located just 130km away from Shanghai, WSIP is an ideal location for investors interested in both domestic and export markets. With its reliable infrastructure, abundant prepared land for expansion, quality ready-built factories and one-stop customer service to ensure quick start-ups and hassle-free operations, it offers a complete and cost-effective manufacturing environment valued highly by investors. There are now 60 operating tenants in WSIP with annual export value of US$2.2 billion (Please see Annex 3 for WSIP Fact Sheet)

For media enquiries, please contact:

Enquiries on Wuxi Centre: 
Cynthia Chin (Ms)
Assistant Manager
Corporate Communications
International Enterprise Singapore 
DID: +65 6433 4960
Fax: +65 6337 8136

Enquiries on WSIP: 
Carolyn Chua (Ms)
SembCorp Parks Management Pte Ltd
DID: +65 6329 2509
Fax: +65 6227 8180

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