Singapore companies seal deals for projects in Guangdong
The New Paper
Singapore companies in sectors ranging from logistics and education to jewellery retail inked agreements yesterday to tap consumer and technology-related opportunities in Guangdong, China.
Twenty Singapore organisations signed deals for 16 projects in the consumer, logistics and technology sectors.
The agreements were sealed in Guangzhou at the eighth Singapore-Guangdong Collaboration Council (SGCC) meeting co-chaired by Mr Ong Ye Kung, the Minister for Education (Higher Education and Skills) and Second Minister for Defence, and Guangdong Governor Ma Xingrui.
The agreements signed include a joint venture between Love & Co International, Soo Kee Group's bridal specialist brand, and Global Crown Group to sell gold and diamond products. The venture aims to set up 550 point-of-sale outlets in China and Hong Kong by 2022.
EtonHouse International Pre-School inked a joint venture agreement with Shenzhen Mingyang Education Group to establish the Shenzhen EtonHouse International Pre-School, marking its first expansion into Shenzhen.
Mapletree signed a memorandum of understanding with Qingyuan Modern Logistics Park to build integrated logistics facilities, which will serve as an e-commerce hub for white goods manufacturers in the region.
Guangdong has been Singapore's top Chinese provincial trading partner since 1988.
Bilateral trade reached around $36.5 billion last year.
Courtesy of The New Paper, 23 August 2017.