[photopress:suzhou_industrial_park.jpg,full,alignright]Lee Yi Shyan, Singapore’s Minister of State for Trade and Industry, has encouraged local investors to seize opportunities of service outsourcing, logistics and water and environmental services in the Suzhou Industrial Park which is a joint project between Singapore and China.
Speaking at the economic cooperation forum on China’s city of Suzhou and Suzhou Industrial Park, Lee Yi Shyan said that as China is an increasingly popular destination for business process outsourcing (BPO) operations and has launched several initiatives to promote service outsourcing, the Suzhou industrial park, which has been designated as a BPO demonstration base, is a very attractive platform for Singapore companies to ride the BPO wave in China.
The collaboration project between the two countries started in 1994 and has contributed 3%t to China’s total hi-tech industrial value. It has attracted 304 Singapore investment projects valued at nearly RMB $2 billion.
When Chinese Vice Premier Wu Yi recently visited Singapore both countries have revised the 10-year targets to further steer the park towards a hi-tech and high value-added economy.
Referring to logistics, Lee Yi Shyan said, ‘As a manufacturing stronghold in China, SIP requires reliable and experienced logistics players to support the demands of its manufacturers. Our third party logistics companies are well-equipped to meet those needs, having developed the requisite competencies through years of experience in serving multinational companies.’
Source: People’s Daily Online