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SINGAPORE: China's Zhejiang province represents unique opportunities for Singapore's knowledge-based exports - like education, urban planning and water solutions.
The call came from Minister in the Prime Minister's Office Lim Hwee Hua, who has just returned from a business mission to Zhejiang.
Private business is booming in Zhejiang. Some 16 per cent of the top 1,000 privately owned companies in China are based in the province.
Mrs Lim said this presents an opportunity for Singapore companies to export their knowledge and services, rather than merely in the form of traditional direct investment.
She said: "Master planning, blueprint design, all the way to the very specific areas of water solutions. And we have businesses that have experience in this whole spectrum of urban solutions, so we are sort of offering something different from just a peacemeal development of a property project on a piece of land."
Mrs Lim recently led a business mission to Zhejiang to help Singapore SMEs familiarise themselves with the Chinese market. She said potential airport development, education, logistics projects and the tourism sector are possible growth areas.
Some companies that had gone along on the business mission said they are enthusiastic about the region's prospects.
International school Eton House was one company on the trip and said it has found new opportunities to make further inroads into China.
Ang Cheng Eng, chief operating officer, China, Eton House International, said: "The growth that we have seen in the past years of being in China has been unprecedented and there are ample opportunities.
"The focus so far has been on coastal cities and key cities such as Shanghai, Beijing, Shenzhen but inland cities and provinces actually present untapped growth potential. With a huge influx of foreign investment, there comes a need for high quality international education."
Trade promotion agency IE Singapore said bilateral trade between Singapore and Zhejiang amounted to US$2.3 billion last year, up 14 per cent over 2007. - CNA/vm
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