Singapore companies seal deals for projects in Guangdong

Singapore companies in sectors ranging from logistics and education to jewellery retail inked agreements yesterday to tap consumer and technology-related opportunities in Guangdong, China.

Twenty Singapore organisations signed deals for 16 projects in the consumer, logistics and technology sectors.

The agreements were sealed in Guangzhou at the eighth Singapore-Guangdong Collaboration Council (SGCC) meeting co-chaired by Mr Ong Ye Kung, the Minister for Education (Higher Education and Skills) and Second Minister for Defence, and Guangdong Governor Ma Xingrui.

The agreements signed include a joint venture between Love & Co International, Soo Kee Group’s bridal specialist brand, and Global Crown Group to sell gold and diamond products. The venture aims to set up 550 point-of-sale outlets in China and Hong Kong by 2022.

EtonHouse International Pre-School inked a joint venture agreement with Shenzhen Mingyang Education Group to establish the Shenzhen EtonHouse International Pre-School, marking its first expansion into Shenzhen.

Mapletree signed a memorandum of understanding with Qingyuan Modern Logistics Park to build integrated logistics facilities, which will serve as an e-commerce hub for white goods manufacturers in the region.

Guangdong has been Singapore’s top Chinese provincial trading partner since 1988.

Bilateral trade reached around $36.5 billion last year.

Source: tnp