SINGAPORE, 27 APRIL 2011-Singapore’s Minister for Information, Communications and the Arts Lui Tuck Yew has called for more local companies to use the Guangzhou Knowledge City (GKC) project as a springboard to expand into the rest of the China market.
He was speaking at the signing ceremony for a joint venture agreement between Temasek Holdings subsidiary Singbridge and conglomerate Wing Tai to develop the first residential project comprising some 2,000 smart-eco homes in the Guangzhou Knowledge City.
“Guangzhou Knowledge City can create many downstream business opportunities for Singapore companies, including our SMEs. Imagine the huge range of products, services and investment opportunities resulting from the development of this green field project - the entire Knowledge City is one-sixth the size of Singapore. Companies should also view such large-scale projects as good opportunities to build up and bolster their regional track record,” said Lui.
He added that 12 local companies will be signing agreements to work with the joint venture, providing products and services including interior design and furnishings, green building consultancy and energy-saving products among others.
He noted that three of these companies are doing business in China for the first time, and nine companies in Guangdong Province for the first time.
Meanwhile, Lui announced that Singbridge and government agency IE Singapore have set up GKC Partners Programme to entice local companies to enter Guangdong.
Singbridge would bring in Singapore companies as investors and suppliers for its projects in the GKC, and introduce them to potential project partners. They can enjoy reimbursements on various qualified business development costs when exploring business opportunities in the GKC. These companies will also enjoy support when they partner Singbridge in trade fairs and other marketing activities in the GKC.
Sign up for CIO Asia eNewsletters.