SINGAPORE and Liaoning on Thursday signed five MOUs in Shenyang, China, to bring Changxing Island into the next phase of development in the Liaoning costal economic belt and its key cities.

The signings were witnessed by the Singapore-Liaoning Economic and Trade Council (SLETC) at a meeting held in Shenyang.

These agreements add to the 14 Singapore projects worth US$103 million (S$139 million) that Liaoning has approved in the first half of this year.

The Liaoning government has continually sought to encourage strong growth for the province particularly in the Liaoning Coastal Economic Belt and its key cities, including Shenyang.

Both sides agreed to explore further business opportunities for companies from Singapore and Liaoning in these areas.

The SLETC will continue to focus collaboration in urban solutions including environmental services, marine and port-related infrastructure, modern services like education and internationalisation of Liaoning enterprises.

Bilateral trade between Singapore and Liaoning province reached US$1.79 billion (S$2.4 billion) from January to June, up 15.5 per cent from a year ago.

Exports to Singapore amounted to US$1.70 billion, an increase of 14.9 per cent while imports from Singapore is recorded at US$95 million, an increase of 35.3 per cent.

Sembcorp is one of the companies that signed agreements to expand its presence in Shenyang.

Manpower Minister Gan Kim Yong is currently in Liaoning on a business mission, with a business delegation from 20 Singapore firms.

Editor: Xie Fang

Source: straitstimes.com