Mr Lee Yi Shyan at the 2nd Singapore-Jiangsu Cooperation Council Meeting

CLOSING SPEECH BY MINISTER OF STATE FOR TRADE AND INDUSTRY MR LEE YI SHYAN AT THE SECOND SINGAPORE-JIANGSU COOPERATION COUNCIL MEETING, FRIDAY, 28 NOVEMBER 2008, 1130AM, GRAND COPTHORNE WATERFRONT HOTEL

Your Excellency Party Secretary Liang Baohua,

Your Excellency Ambassador Zhang Xiaokang,

Your Excellency Vice Governor Zhang Weiguo,

Distinguished Council Members,

Ladies & Gentlemen,

Good morning!

I am very happy to be here today at this gathering of friends from Jiangsu and Singapore. With the reporting of the successes achieved over the previous year and the agreement of the council’s focus for 2009, we are nearing the close of the 2nd meeting of the Singapore-Jiangsu Cooperation Council.

The formation of SJCC last year marked the beginning of a new chapter in the cooperation between Singapore and Jiangsu. Building on the close relationships established from collaborating on Suzhou Industrial Park, SJCC sought to expand our focus to include more sectors, and bring more agencies, companies and individuals into this growing network of friends and partners. I am therefore heartened to see that both sides have been active in exploring new frontiers. I see at least three ways in which this is taking place.

Spreading of Investments across wide geography

First, Singapore companies are venturing into diverse locations within Jiangsu. Despite the current economic downturn, Singapore made 87 new investments in Jiangsu from January to October this year. These investments were made across many cities. If the MOUs signed today are an early indication, Singapore’s investments in Jiangsu are poised to continue to spread across the province.

Of the 20 MOUs signed, 16 were for projects outside of Suzhou. Of special mention are Hyflux’s wastewater treatment project in Lianyungang and IMC’s port terminal and logistics project in Lianyungang. These projects in Northern Jiangsu cities mark a geographical diversification in terms of Singapore companies’ investment activities, beyond cities south of the Yangtse River. I am confident that this new trend will blossom into new and fruitful partnerships.

Of equal significance, Suzhou Industrial Park is taking active steps to 走出去, or venture out, to new locations. With the intention to explore collaboration with Nantong authorities on a 40km2 industrial zone and township development, CSSD of SIP is seeking ways to replicate SIP outside Suzhou in other Chinese cities. We hope CSSD and Nantong will be successful in moving the project forward. With SIP’s 15th anniversary coming up next year, commercially viable partnerships with other cities, such as this potential collaboration with Nantong, would certainly be a meaningful milestone for SIP.

New Areas of Collaboration

Second, we are diversifying beyond the traditional focus on manufacturing and real estate development to the development of soft skills and high tech industries, in support of Jiangsu’s developmental plans to restructure its economy and move up the value chain. I note that both sides have put a great deal of thought into identifying new areas for win-win collaboration. In the council work plan for next year, there is an emphasis on increasing co-operation in modern services, education exchanges, training, environmental services, tourism, and science & technology.

ICT deserves a special mention here, as it has emerged as a topic of strong mutual interest. In particular, our Jiangsu counterparts have been focusing on the role of e-government and e-commerce services in supporting port and logistics functions. This is an area in which our agencies and companies have some experience to share. For this reason, we thank the Infocomm Development Authority for joining us at this meeting. I understand that more exchanges on both sides are being planned for the immediate future.

Some new collaborations in the area of education have also been established both at the Ministry level and at the school level between Singapore and the cities of Nanjing, Suzhou and Wuxi. For example, the Principals’ Roundtable Forum and Vice-Principal Attachment Programme are two platforms developed at the Ministry level for school leaders to deepen the educational collaboration between Singapore and China.

These people-to-people exchanges would also intensify with the signing of an MOU between Suzhou Tourism Bureau and Singapore Tourism Board to strengthen tourism cooperation. IESE’s agreement with Jiangsu Provincial Academy of Environmental Science to jointly conduct research on environmental topics and a Taizhou Medical City Investment Promotion Seminar held in Singapore are also examples of some ongoing activities that have promoted exchanges between Singapore and Jiangsu experts.

Platform Projects

Third, SJCC has also begun to move beyond individual project facilitations to the crafting and driving of meaningful platform projects. Supported by IE Singapore and Nanjing Municipal People’s Government, the Singapore-Nanjing Eco High Tech City would ride on the expertise of Singapore companies to replicate Singapore’s success in balancing environmental protection with economic growth within a 3-5 sq km development.

Given the many potential areas of collaboration highlighted in SJCC’s work plan, there is scope for more of these platform projects. For example, co-chairman of the council, Minister Khaw also spoke earlier on the possibility of Jiangsu cities embarking on multiple water treatment project collaborations and training exchanges with Singapore.

Conclusion

In closing, I would like to make just one more observation on SJCC’s potential for growth and diversification. Many of you may have noticed a group of particularly youthful participants in the meeting today. They are the student members of Business China, an organization promoting stronger economic and cultural linkages with China through the extensive use of Mandarin, who are here to learn and observe. Perhaps there are more than a few future council members amongst them!

On that note, it remains for me to thank all who have participated in our meeting today. There will be more opportunities for members to interact over lunch, and at the Trade and Economic Forum which our friends from Jiangsu are organizing at the St Regis Hotel this afternoon. I look forward to seeing you there.

Thank you!