Download SBF and IE Singapore lead largest business mission to Chongqing

Media Release
For immediate release
SBF and IE Singapore lead largest
business mission to Chongqing
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The Singapore business mission comprises almost 50 delegates
This is the first business mission led by SBF and IE Singapore to
Chongqing since the launch of the Chongqing Connectivity Initiative
in 2015
Singapore, Thursday, 14 April 2016 – The Singapore Business Federation
(SBF) and International Enterprise (IE) Singapore will jointly lead a delegation
of 29 companies to explore business opportunities in Chongqing from 15 to 17
April 2016. This mission is in conjunction with Minister in the Prime Minister’s
Office Mr Chan Chun Sing’s official visit. This is the largest Singapore
business delegation to visit the municipality since the Chongqing Connectivity
Initiative (CCI) was launched in November 2015.
The
Singapore
business
delegation
comprises
almost
50
senior
representatives of companies from the financial services, aviation, transport
and logistics, as well as information and communications technology (ICT)
sectors, which are the focus sectors for the CCI. Also on the trip are the
Industry Advisors to the CCI, who will lend their corporate and professional
industry expertise to the project.
During the three-day mission, the Singapore delegation will meet local
government officials and enterprises, develop a better understanding of
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Chongqing’s business environment, as well as gain insights to the CCI. The
delegation will also attend the “Chongqing Connectivity Initiative Seminar” on
16 April 2016. The Seminar is organised by the Ministry of Trade and Industry
and Chongqing Municipal Government, supported by the Chongqing
Connectivity Initiative Office (Singapore’s project office) and the Chongqing
Connectivity Initiative Administrative Bureau (Chongqing’s project office). At
the Seminar, the delegates will have the opportunity to engage and network
with representatives from the government, business and academia of
Singapore and China on the topic of connectivity.
The CCI is the third Government-to-Government project between Singapore
and China and it is focused on the western region of China. In addition to its
status as one of the four direct municipalities in China and the only one in the
Western China, Chongqing plays a strategic role in key Chinese initiatives
such as “One Belt, One Road” (OBOR), the Western Region Development
and Yangtze River Economic Belt strategies.
OBOR is currently China’s top national-level strategy, and Chongqing has
unique geographical advantages as it is positioned at the nexus of the Belt
and Road. Since the introduction of OBOR, SBF has been actively promoting
and supporting the Initiative, particularly through organising high-level
business events. This business mission is part of SBF’s efforts to help
Singapore companies explore and seize OBOR-related opportunities in
Chongqing.
Mr S.S. Teo, SBF Chairman and CCI Industry Advisor, said, “The Chongqing
Connectivity Initiative will further enhance collaboration between Singapore
and China, bringing opportunities and investments that will benefit both
countries and our businesses. Chongqing plays a vital role in China's regional
strategies, such as "One Belt, One Road", to boost trade and investment
along the overland Silk Road Economic Belt and the 21st Century Maritime
Silk Road, connecting China with Southeast Asia, South Asia, Africa and
Europe. We strongly encourage Singapore companies to set their sights on
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establishing and expanding their footprint in China, given Chongqing and
Western China's strong potential for development and business opportunities
arising from the various initiatives.”
Mr Lee Ark Boon, CEO of IE Singapore, said, “Over the last five years, West
China accounted for over 20% of Singapore’s annual investment into China. It
is now among the top investment destinations for our companies in China. At
11% GDP growth, Chongqing is one of China’s fastest growing cities. The
Chongqing Connectivity Initiative (CCI) will further strengthen business ties
between Singapore and Chongqing. The launch of daily flights will see more
travels between Singapore and Chongqing, while newly introduced crossborder RMB initiatives will result in increased transactions. Singapore
companies can leverage the momentum generated by the CCI to seize new
opportunities in this region to meet potential partners and explore business
collaborations.”
In recent years, there has been strong economic cooperation and investment
interest from Singapore companies in Western China. According to the
Chongqing Foreign Trade and Economic Relations Commission, by the end of
2015, there were 245 projects, accumulating to a total investment value of
US$5.68billion in Chongqing. Singapore also became Chongqing’s largest
source of foreign direct investment.
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For media queries please contact:
Singapore Business Federation
Randall Tan, Tel: 6827 0255, Email: [email protected]
Laura Cheng, Tel: 6827 6864, Email: [email protected]
Jinny Sim, Tel: 6827 6829, Email: [email protected]
IE Singapore
Cassandra Wong, Tel: 6433 4618, Email: [email protected]
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About Singapore Business Federation
As the apex business chamber, the Singapore Business Federation (SBF) champions the
interests of the business community in Singapore in trade, investment and industrial relations.
Nationally, SBF acts as the bridge between the government and businesses in Singapore to
create a conducive business environment. Internationally, SBF represents the business
community in bilateral, regional and multilateral fora for the purpose of trade expansion and
business networking. For more information, please visit our website: www.sbf.org.sg
About International Enterprise Singapore
International Enterprise (IE) Singapore is the government agency driving Singapore’s external
economy. It spearheads the overseas growth of Singapore-based companies and promotes
international trade. Its vision is a thriving business hub in Singapore with Globally Competitive
Companies and leading international traders.
IE Singapore attracts global commodities traders to establish their global or Asian home base
in Singapore. Today, Singapore is a thriving trading hub with a complete ecosystem for the
energy, agri-commodities and metals & minerals trading clusters.
Through its Global Company Partnership and Market Readiness Assistance, IE Singapore
also works with Singapore-based companies in their various stages of growth towards being
globally competitive.
IE Singapore’s global network of overseas centres in over 35 locations provides the
necessary
connections
in
many
developed
and
emerging
markets.
Visit
www.iesingapore.com for more information.
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