Singapore opens overseas center in China's Hubei to explore business opportunities

Singapore's pro-trade agency International Enterprise (IE) Singapore on Monday opened its 10th Overseas Center (OC) in China's Hubei province.

Based in Hubei's capital city Wuhan, the new OC will focus efforts on Central China, in particular Hubei, Hunan and Jiangxi provinces.

The center will bring IE Singapore and Singapore Economic Development Board under one roof to facilitate trade and investment activities.

It will assist Singapore-based companies to explore business collaborations and opportunities with the Chinese enterprises, help increase in-market knowledge of these companies as well as to build networks with the local governments and businesses. It will assist Chinese companies to explore international operations from Singapore, and help increase the companies' familiarity of the international marketplace.

"The establishment of the Singapore Center in Wuhan is timely," said Sam Tan, Singapore's Senior Parliamentary Secretary for Trade & Industry, and Information, Communications & the Arts, "Singapore- based companies have the relevant expertise and experience to share and contribute to the developing needs of Central China in various industries," he added.

In 2009, there were a cumulative number of 287 Singapore projects in Hubei with cumulative actual investments reaching 770 million U.S. dollars. Singapore's actual foreign direct investments into Hubei amounted to 138 million U.S. dollars.

IE Singapore currently has Overseas Centers located in China's Beijing, Chengdu, Chongqing, Dalian, Guangzhou, Hong Kong, Qingdao, Shanghai and Xi'an.
(Source:xinhua)