Singapore and Sichuan explore development of hitech park

NTUC Learning Hub (LHUB) and Sichuan also signed Collaboration Agreement to mark its first foray in China.

To mark its strong recovery, the Singapore-Sichuan Trade and Investment Committee (SSTIC) has agreed to explore the development of a 35-square km plot of land focusing on modern manufacturing, modern services and modern living. The hi-tech innovation park initiative was raised at the 12th SSTIC meeting held on Monday. It is included as a key item for joint collaboration in the SSTIC workplan for 2010/2011, with other key focus areas being transport & logistics, education, F&B and retail, urban infrastructure, infocomm technology, and banking & finance.

SSTIC Co-Chairmen Associate Professor Koo Tsai Kee, Minister of State for Defence Koo and Sichuan Vice Governor Huang Xiaoxiang also witnessed the signing of a Collaboration Agreement between NTUC LearningHub® (LHUB) and Sichuan Tianrong Industries Co Ltd, a Chengdu-based vocational training company.

Under this partnership, LHUB will offer vocational courses for undergraduates, adult learners and corporate clients.

“We are encouraged by the strong recovery in Singapore-Sichuan bilateral trade and investments in the first five months of this year – a growth of over 68% in trade and about 18% in our investments to Sichuan. Building on this, we hope to achieve even more by continuing our focus on modern services. Sichuan Government has raised the idea of developing a hi-tech innovation park in Chengdu. Some of our companies have expressed interest. The council will explore how Singapore companies can participate in the project,” said Minister Lim in a report released Monday.

Singapore-Sichuan bilateral trade has shown a strong recovery of 68.4% increase from January to May 2010.

The development will focus on leveraging Singapore’s strength in services which includes the conceptualising and positioning for the new park. Companies can also expect to take part in the master-planning, infrastructure and physical development of the zone.

Sichuan shows promising business potential with GDP reaching RMB 1.4 trillion (around S$283.54 billion2) in 2009, a growth of 14.5% over 2008. This was 5.8%
higher than the average of 8.7% for the whole of China.