MOU inked to help Singapore firms access more opportunities in Sichuan Free Trade Zone

SINGAPORE - International Enterprise (IE) Singapore has inked a memorandum of understanding (MOU) with the Sichuan provincial government to help Singapore companies access more opportunities in the Sichuan Free Trade Zone (FTZ).

The agreement is part of seven MOUs signed with Sichuan counterparts at the Singapore-Sichuan trade and investment committee meeting held in Singapore on Friday (Nov 17).

The Sichuan FTZ is the first in China where IE Singapore has developed both provincial-level 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 has also signed another agreement 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, Millet World said in a press release on Friday.

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 signed between Metaverse Systems and SSCIP for the development of Future@Work - a first-of-its-kind integrated technology showcase centre and children theme park. Metaverse Systems is also a joint-ventured company with Millet World.

Developed by Futurize Holdings Pts Ltd, 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 three to 15 years old.

Metaverse Systems will start with the launch of its flagship centre in Singapore by the second quarter of 2018, followed by operations in selected markets, it said. Among others, emergent technologies that children and their parents will encounter include 3D printing, robots and artificial intelligence.