SINGAPORE: Fourteen Singapore companies, including Ascendas-Singbridge, YCH Group, CapitaLand and ComfortDelGro, signed agreements on Friday (Aug 24) to collaborate with Chinese companies in Guangdong province.
The agreements were witnessed by Singapore's Education Minister Ong Ye Kung and Guangdong governor Ma Xingrui, the co-chairmen of Singapore-Guangdong Collaboration Council, at the ninth meeting of the council.
Trade agency Enterprise Singapore said Guangdong offers new opportunities for Singapore companies in research and development, technology, smart cities development, transport and logistics, education, biomedical sciences and professional services.
The development of the Greater Bay Area, China’s national strategy to link nine cities in the Guangdong Pearl River Delta Economic Zone with Hong Kong and Macau, is also expected to create more partnership and investment opportunities.
“Looking ahead, and especially with the development of the Greater Bay Area, we will go beyond traditional sectors to collaborate on innovation, modern services and high-technology sectors like biomedical sciences," said Mr Ong.
"We can work together on developing smart cities, strengthening IP protection and commercialisation, and developing talent.
“Guangdong is a frontier province to contribute towards China’s 2049 vision of a prosperous, modern and harmonious society, and Singapore can be its steadfast partner in this endeavour.”
Guangdong has been Singapore’s top provincial trading partner in China for the 29th consecutive year, with bilateral trade at S$29.7 billion last year.
More than 200 Singapore and Guangdong government and business representatives attended the meeting on Friday.
The Guangdong governor is currently in Singapore on a four-day business mission with 75 officials and businessmen. He will also call on Deputy Prime Minister Teo Chee Hean later on Friday.