Singapore and Tianjin further bolster trade ties

Keppel Capital will set up a fund management in SSTEC.

New trade connectivity deals and continued partnerships in sustained development were inked at the eighth Singapore-Tianjin Economic and Trade Council meeting, an announcement revealed. Firms from the Lion City also took part in the initiative as ten of them built new partnerships across sectors such as built environment, financial services, healthcare and logistics.

Enterprise Singapore (ESG) is currently working with Tianjin Customs to streamline and shorten the customs clearance process for Singapore companies to export their food products into Tianjin. ESG has also led mission trips with seafood traders and associations to help them better understand the process, and engage Tianjin distributors.

Moreover, ESG will also facilitate partnerships between Singapore and Tianjin enterprises to exchange ideas and co-create innovative solutions in the area of clean technology.

Amongst the deals signed is the agreement of Memorandum of Understanding (MOU) involving Keppel Capital Management, Tianjin Eco-City Administrative Committee, and the Sino-Singapore Tianjin Eco-City Investment and Development to set up a fund management entity in the Eco-City. 

Meanwhile, Mapletree Group and the Jinghai District Government to set up warehousing facilities in Jinghai. Perennial Real Estate Holdings together with the Tianjin Xiqing District government will develop a regional healthcare and commercial hub in the district.

For its part, Surbana Jurong inked deal with Tianjin Eco-City Administrative Committee and the SinoSingapore Tianjin Eco-City Investment and Development to establish an investment management company in the Eco-City.

As of 2017, cumulative actual investments of Singapore firms in Tianjin hit $12.79b, with 940 projects across the environment, logistics and real estate sectors.