Over $3b worth of projects inked at Singapore-Zhejiang Bilateral Council

This is the highest number of deals ever closed.

Fifteen project agreements worth over $3 billion were signed at the 10th Singapore-Zhejiang Economic and Trade Council (SZETC) meeting held in Singapore yesterday.

This is the highest number of deals ever closed in the council’s 10-year history. The agreements and Memoranda of Understanding (MOUs) are related to education, environmental services, financial services, marine economy development and social management.

Two special collaboration projects in social management, urban management and modern services, which will be developed on a commercially-viable basis, were signed at the Council meeting. 

Singapore Cooperation Enterprise (SCE) and the Shaoxing government also signed an agreement to embark on a township project in the Shaoxing Binhai New City. 

Mainboard-listed Mapletree also inked a special collaboration agreement with the Ningbo city government to deepen partnership on several projects across different industries. 

In the first nine months of 2014, Singapore’s actual investments in Zhejiang reached $419m (US$350m). As of October 2014, cumulative actual investments have amounted to $4.96b (US$4.14b) with 1,063 projects In the first nine months of this year, bilateral trade increased 8.4% to hit $4.54b (US$3.79b).