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Singapore companies encouraged to invest in China's Suzhou industrial park |
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21:49, July 13, 2007 |
Singapore''s Minister of State for Trade and Industry Lee Yi Shyan on Friday encouraged local investors to seize opportunities of service outsourcing, logistics and water and environmental services in the Suzhou Industrial Park (SIP), the joint project between Singapore and China.
Speaking at the economic cooperation forum on China''s city of Suzhou and Suzhou Industrial Park, Lee noted that as China is an increasingly popular destination for business process outsourcing (BPO) operations and has launched several initiatives to promote service outsourcing, the Suzhou industrial park, which has been designated as a BPO demonstration base, is a very attractive platform for Singapore companies to ride the BPO wave in China.
As an iconic collaboration project started in 1994 between the two countries, the park has contributed 3 percent to China''s total hi-tech industrial value, and has drawn 304 Singapore investment projects valued 1.97 billion U.S. dollars.
When Chinese Vice Premier Wu Yi visited Singapore this week, both countries have revised the 10-year targets to further steer the park towards a hi-tech and high value-added economy.
Referring to logistics, Lee said, "As a manufacturing stronghold in China, SIP requires reliable and experienced logistics players to support the demands of its manufacturers. Our third party logistics companies are well-equipped to meet those needs, having developed the requisite competencies through years of experience in serving multinational companies (MNCs)."
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