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| Oct 23, 2008 | |
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Minister to lead trade mission
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| By Gwen Sin | |
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Mr Lim Swee Say, Minister in the Prime Minister's Office, will lead a four-day mission to Sichuan province from Oct 26 to explore trade and investment opportunities there. This is the first business delegation organised by International Enterprise (IE) Singapore to Sichuan since the earthquake in May. The delegation includes 47 members from 33 companies, and officials from IE Singapore, the Economic Development Board and Singapore Tourism Board. Mr Lim, together with Minister of State for Defence Koo Tsai Kee, are visiting the province as Advisor and Co-Chairman of the Singapore-Sichuan Trade and Investment Committee (SSTIC) respectively. While in Sichuan, they will attend the SSTIC meeting to discuss new areas of cooperation between Singapore and Sichuan. The mission will also serve as an opportunity for the Singapore-based companies to find out more about the post-earthquake business environment in Sichuan, as well as the potential areas they can explore and add value to the economy. During the trip, Mr Lim will attend the opening ceremony of the 9th Western China international economy and trade fair, a key platform for the promotion of economic development in West China, on Oct 27. The minister and Prof Koo will also call on the political leaders of Sichuan and Chengdu, and witness the opening and groundbreaking ceremonies of several projects in Chengdu. Following the May earthquake, several Singapore companies who are SSTIC members had responded quickly and contributed to the rebuilding efforts of the province, donating a total of S$1,196,360. Bilateral trade between Singapore and Sichuan totalled US$401.7 million in the first eight months of this year, said a statement from IE Singapore on Thursday. Singapore was the third largest investor in Sichuan last year. Singapore's foreign direct investments in Sichuan hit US$217.7 million (S$326.877 million) from January to August. The cumulative actual Foreign Direct Investments (FDI) amounted to US$819.73 million at end August, with a total of 377 projects. | |
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