- POSTED: 24 May 2014 03:02
Minister of State Sam Tan praises China and Singapore's "mutually beneficial" Suzhou Industrial Park project as it marks a milestone.
SUZHOU: The China-Singapore Suzhou Industrial Park celebrated 20 years of being in business on Friday (May 23).
Speaking at a ceremony in Suzhou, Minister of State for the Prime Minister's Office and the Ministry of Culture, Community and Youth, Sam Tan praised the flagship bilateral cooperation project as "mutually beneficial".
He said Singapore's investment in the industrial park has been increasing, and that more Singaporean companies are using it as an "incubator" before expanding their business in China.
In return, Singapore has served as a training ground for Chinese officials. To date, almost 3,000 officials from Suzhou and the industrial park have gone to Singapore for training.
"Our bilateral cooperation has also evolved with Suzhou’s changing developmental needs, and moved beyond township development and investment promotion into other new areas, including modern services, financial cooperation, R&D, and smart city development," he said.
The core competencies of the industrial park he says, lie in the close partnership between the two countries, in terms of sharing resources to innovate and develop.
Mr Tan noted that in recent years, the Suzhou Industrial Park's experience has been successfully replicated in other parts of China.
"Looking ahead, I am certain that the park will continue to enhance its competitiveness under the guidance of the two countries’ leaders, to create a pro-business and liveable environment for its investors."