Shanxi hosts investment promotion in Singapore

Shanxi holds a trade and investment promotion in Singapore on Nov 11. [Photo/Shanxi Daily]

The trade and economic delegation of North China's Shanxi province organized the China (Shanxi)-Singapore Trade and Investment Promotion in Singapore on Nov 11. 

During the promotion, representatives from both sides conducted displays, promotional presentations, trade negotiations, and project discussions focusing on their respective advantageous industries.

Singapore, being a significant trade, financial, and shipping hub in the Asia-Pacific region, offers unique advantages in industries such as electronics, petrochemicals, precision engineering, transportation equipment, biomedicine, finance and insurance, and logistics. This creates ample opportunities and great potential for cooperation between Singapore and Shanxi.

Li Haiyuan, chairman of the Shanxi Provincial Committee of the China Council for the Promotion of International Trade, expressed his hope for further deepening and expanding comprehensive exchanges and cooperation with Singapore. This includes fields such as advanced manufacturing, the digital economy, energy and chemical industry, aerospace, biomedicine, logistics, infrastructure, financial technology, and legal services.

Following discussions and negotiations, the Shanxi Culture and Tourism Investment Holdings Group and Six Stars Tours & Services Pte in Singapore reached a cooperation agreement related to information sharing and market development in the tourism sector. The Shanxi Innovation Entrepreneurship Incubation Association and the Singapore Association for Innovation and Entrepreneurship also reached a cooperation agreement aimed at providing training and facilitating exchanges for small and medium-sized enterprise innovation and entrepreneurship.

In recent years, the economic and trade exchanges and cooperation between Shanxi and Singapore have continued to expand and deepen. From January to September, the total import and export value between the two sides reached 4.24 billion yuan ($582.22 million), reflecting a year-on-year increase of 48.5 percent.