S'pore, Jiangsu to step up promotion of opportunities in the province
By Jonathan Peeris, 938LIVE | Posted: 25 November 2009 1616 hrs

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SINGAPORE: Singapore and the Chinese province of Jiangsu plan to jointly step up promotion of opportunities in northern coastal cities and deepen collaboration in the environmental services sector.

These were among the highlights of the third Singapore-Jiangsu Cooperation Council meeting held in Wuxi on Wednesday.

Northern coastal cities such as Lianyungang, Yancheng and Nantong were identified as potential targets for Singapore investors in view that the Jiangsu Coastal Development Plan has just been endorsed as a national strategy by China's central government.

For its 2010 workplan, the council also decided to continue its focus on the six key areas previously announced.

These include trade and economic; environmental services; vocational and technical education and tourism, among others.

Following the meeting, the Singapore-Nanjing Eco High-Tech Island joint venture company signed agreements with eight Singapore-based and foreign companies to explore partnerships in the project.

These companies include Singapore-based ST Engineering and Etonhouse International, as well as foreign ones like Ivy Group and Leaderank.

The JV company also signed agreements with the Bank of China, ICBC and Bank of Shanghai to get a 7.2 billion Renminbi credit line.

Singapore water treatment firm Hyflux also signed an agreement with Bank of Jiangsu to provide three billion Renminbi worth of financing facilities to the firm over the next three years. - 938LIVE/vm