SINGAPORE - Small and medium-sized enterprises (SMEs) here can find many opportunities to develop their businesses in China amid a raft of healthcare reforms and a growing middle class.
At the Singapore-Nanjing Special Projects Cooperation Panel (SNCP) meeting on Tuesday, co-chair Mr Teo Ser Luck, Minister of State for Trade and Industry, pointed to cooperation between Singapore's SMEs and Nanjing's healthcare sector as a new focus area.
Mr Teo, who is on a three-day trip to Nanjing and Suzhou, said: "The SNCP was formed to provide an additional platform for Singapore SMEs to understand more about Nanjing's needs and the corresponding business opportunities.
"Through the panel, we also hope to help them overcome challenges in the market and capture potential projects more effectively."
To encourage collaboration on healthcare, trade agency IE Singapore said it will work with the Nanjing Health Bureau to facilitiate exchanges between Singapore and Nanjing's public and private sectors.
"Singapore's strengths in public healthcare policies and private healthcare managment expertise complement these needs," said IE Singapore.
It added that it will identify and support commercial healthcare projects that could encompass other sectors, such as master planning.
The SNCP was formed to facilitate the development of common interests between Singapore and Nanjing, and has supported projects such as the Singapore-Nanjing Hi-Tech Island and Nanjing Youth Olympic Games 2014.
Bilateral trade between Singapore and Nanjing in 2013 was US$1.4 billion (S$1.7 billion), while Singapore's investment in the city was US$2.31 billion.