Mapletree and SSinolog recently signed a memoranda of understanding at the fifth Singapore-Nanjing Special Projects Cooperation Panel meeting in Nanjing, Jiangsu province. Credit: Mapletree website.
Singapore companies, Mapletree and SSinolog, are investing in smart logistics and logistics management facilities in Nanjing, China, to address the rising consumer demand and e-commerce spend in the city, said International Enterprise (IE) Singapore last Friday (30 June 2017).
According to Jiangsu and Nanjing Statistical Yearbook 2016, the consumer expenditure per capita in Nanjing has steadily increased over the past three years, from RMB 25,855 in 2014 to RMB 29,722 in 2016. IE Singapore noted that the rising expenditure and increasing e-commerce sales have only resulted in greater need for logistics services in the city.
As such, Mapletree and SSinolog recently signed a memoranda of understanding (MOUs) at the fifth Singapore-Nanjing Special Projects Cooperation Panel (SNCP) meeting in Nanjing, Jiangsu province.
As part of its partnership with the Lishui Economic Development Zone, SSinolog is pumping in US$180 million to develop a Sin-Sino Nanjing Lishui HighTech Logistics Park. The facility will be equipped with intelligent logistics hardware to ensure fast import clearance and export processing.
Meanwhile, Mapletree Logistics and Liuhe Economic Development Zone Administrative Committee are investing US$110 million to develop the Mapletree Modern Logistics Park in Liuhe district. The park will provide logistics management services and real estate space for e-commerce and cold chain logistics operators in the northern parts of Nanjing.
"Singapore has consistently been Nanjing's top three largest foreign investor countries in the past five years. As we build our ties and explore new partnerships, logistics is a key complementary area we are looking at. This is in line with our Logistics Industry Transformation Map, where Singapore companies are encouraged to deepen capabilities and build exportable business models for overseas growth," said Dr. Koh Poh Koon, Senior Minister of State (SMS) for Trade and Industry & National Development.
"The projects by Mapletree and SSinolog show how logistics players can ride technological knowhow to seize new opportunities. IE Singapore and the SNCP will continue to bolster collaborations between both parties," Koh added.
Meanwhile, Singapore Nanjing Eco Hi-Tech Island Administrative Committee (SNEIC), Singapore Nanjing Eco Hi-Tech Island Development Co., Ltd (SNEI), and Singapore-based medical group, Luye Medical Group Pte Ltd. Luye Medical Group have also signed an MOU during the event to develop an integrated hospital on Singapore Nanjing Eco Hi-Tech Island.
Sign up for CIO Asia eNewsletters.