Help for S'pore firms to gain foothold in Sichuan


Singapore companies will get access to more opportunities in the Sichuan Free Trade Zone (FTZ), after International Enterprise Singapore inked a memorandum of understanding (MOU) with the Sichuan provincial government.
Singapore companies will get access to more opportunities in the Sichuan Free Trade Zone (FTZ), after International Enterprise Singapore inked a memorandum of understanding (MOU) with the Sichuan provincial government.PHOTO: LIANHE ZAOBAO

Singapore companies will get access to more opportunities in the Sichuan Free Trade Zone (FTZ), after International Enterprise Singapore inked a memorandum of understanding (MOU) with the Sichuan provincial government.

The MOU is one of the seven signed at the Singapore-Sichuan trade and investment committee meeting in Singapore yesterday.

The Sichuan FTZ is the first in China where IE Singapore has developed both provincial-and city-level networks to ease the entry of Singapore companies into the province, IE Singapore said.

A key project in the FTZ is the Sino-Singapore (Chengdu) Innovation Park Development (SSCIP) led by Sembcorp Development.

To drive more partnerships in innovation and technology, IE Singapore also signed an MOU with SSCIP, Chengdu Hi-tech Zone, and Millet World to develop the SSCIP-Singapore Innovation Centre and establish a shared innovation-and-service platform.

These will spur collaboration between Singapore and Chinese companies and support Singapore firms seeking to internationalise in Chengdu, said Millet World.

It added that local companies can enjoy cross-collaborative opportunities, training resources and consultancy services by leveraging on the resources of partners in this agreement.

Another noteworthy MOU was the one signed between Metaverse Systems and SSCIP for the development of Future@Work, a first-of-its-kind integrated technology showcase centre and children's theme park. Metaverse Systems is also a joint-venture company with Millet World.

Developed by Futurize Holdings, Future@Work is an immersive indoor theme park that will allow participants to experience and understand jobs of the future, said Metaverse Systems. It is targeted at children aged from three to 15.

Metaverse Systems will start with the launch of its flagship centre in Singapore by the second quarter of next year, followed by operations in selected markets, it said.

Emergent technologies that children will encounter include 3D printing and artificial intelligence.

A version of this article appeared in the print edition of The Straits Times on November 18, 2017, with the headline 'Help for S'pore firms to gain foothold in Sichuan'. Print Edition | Subscribe