The coastal area is already very developed, so it is a good time to look into a second-tier city like Nanning, and start to look at how the maritime silk road starting from here can benefit Singapore companies
Singapore businesses keen to explore opportunities in Nanning
Some 90 Singapore companies are showcasing their wares at the China-ASEAN Expo in the capital of Guangxi this year. The province is also eager to woo Singapore investors for its port and maritime industries.
NANNING, CHINA: The Singapore Business Federation (SBF) has brought what it calls the largest-ever delegation to the China-ASEAN Expo (CAEXPO), which opens on Tuesday (Sep 16) in Nanning, the capital of Guangxi.
Prime Minister Lee Hsien Loong is also in the city for the event, which has Singapore as the “country of honour” this year. He paid an early visit to CAEXPO on Monday afternoon, where some 90 Singapore companies – including banks, law firms and food brands – are showcasing their wares.
About 260 business leaders and senior representatives from diverse industries were at the Singapore booths, and they expressed hope that less-developed cities like Nanning can provide opportunities for businesses and investments.
“The coastal area is already very developed, so it is a good time to look into a second-tier city like Nanning, and start to look at how the maritime silk road starting from here can benefit Singapore companies,” noted SBF’s chairman, Mr Teo Siong Seng.
Seeing Nanning’s potential, DBS had set up a branch there five years ago. “We see more and more collaboration between China and the ASEAN region, and we see investment potential both ways – Chinese corporates from Guangxi going to the rest of Asia, and some ASEAN companies coming to Guangxi. So we are very excited about the market,” said Mr Tan Teck Long, managing director of DBS Institutional Banking Group China.
Mr Lee, who is in China for an eight-day visit, met Chinese Vice-Premier Zhang Gaoli on sidelines of CAEXPO. Singapore’s Foreign Affairs Ministry said the two leaders had a warm meeting, and discussed China’s proposal for a third government-to-government project in western China. Mr Lee also met the Party Secretary of Guangxi province, Mr Peng Qinghua.
Guangxi is keen to woo Singapore investors to help expand its port and maritime industries. The south-western province has seaports that are some of the nearest to western China, a relatively undeveloped area that the central Chinese government is keen to open up and develop.
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