Singapore firms look to Liaoning, China for urban investments

New business mission composed of 65 companies troop to the booming province for exploratory talks and canvassing.

Companies from the urban solutions, transport and logistics, and environmental and business services sectors will visit three areas in Liaoning province, whose bustling economic belt might hold more promise for future business tie-ups and direct investments.

Liaoning is already Singapore's sixth largest trading partner with bilateral trade reaching $2.4 billion last year, and a total of 865 projects worth $2.79 billion flooding into the province as direct foreign investments.

Here's more from IE Singapore:

Mr Gan Kim Yong, Minister for Health, will lead a business mission comprising 65 Singapore-based companies to Dalian (including Changxing Island), Shenyang and Yingkou in Liaoning province, China. He will be accompanied by Mr Stanley Loh, Singapore's Ambassador to China, senior officials from International Enterprise (IE) Singapore, the Ministry of Trade and Industry, and Mr Teo Siong Seng, President of Singapore Chinese Chamber of Commerce and Industry (SCCCI).

The mission, coordinated by IE Singapore and SCCCI, will deepen companies' understanding of the Liaoning Coastal Economic Belt and Shenyang Economic Region. Taking place place from 22 to 26 April 2012, the mission will involve companies from urban solutions, transport and logistics, environmental and business services.

Minister Gan and Liaoning Governor Chen Zhenggao are the Co-Chairmen of the Singapore-Liaoning Economic and Trade Council (SLETC). IE Singapore is the Singapore secretariat of the Council. During the trip, Minister Gan is expected to meet key provincial and city leaders, including Liaoning Party Secretary Wang Min, Governor Chen, Shenyang Mayor Chen Haibo, Dalian Party Secretary Tang Jun, Yingkou Party Secretary Wei Xiaopeng, Yingkou Mayor Ge Lefu, and Changxing Island DirectorGeneral Jin Cheng.

Dalian and Shenyang are looking to expand their urban areas by developing new areas and districts as the Jinzhou New Area and Ganjingzi District in Dalian, and Shenbei New Area in Shenyang. The delegation will visit these sites to better understand the potential for business collaboration.

Other highlights include visits to Changxing Island (in Dalian) and Yingkou Port Bonded Logistics Centre. Changxing Island and Yingkou are part of the Liaoning Coastal Economic Belt strategy. In July last year, the State Council approved the opening of the Changxing Island Port, where 68 berths will be built. On 26 April 2012, Minister Gan will grace the official opening ceremony of Pacific International Lines' ship recycling and ship repair project on Changxing Island. This new project was a result of strong support and facilitation by the SLETC.

In 2011, bilateral trade between Singapore and Liaoning reached US$2.4 billion, making Singapore Liaoning's 6th largest trading partner. On the investment front, Singapore's cumulative actual foreign direct investments in Liaoning reached US$2.79 billion, with a total of 865 projects as of end 2011. Singapore is Liaoning's 4th largest foreign investor in 2011.