Singapore and Tianjin companies signed eight agreements for collaboration at the Sino-Singapore Tianjin Eco-City (SSTEC) on Wednesday (July 30), further strengthening the Republic’s position to support and leverage on Tianjin’s rapid economic growth.
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The deals – part of the 10 signed on Wednesday at the Singapore-Tianjin Economic and Trade Council (STETC) meeting – include one by Keppel Offshore and Marine to set up a design and service outsourcing centre in SSTEC, where music company Ocean Butterflies has also agreed to set up its regional headquarters.
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These upcoming projects will follow the Chinese government’s ongoing efforts to shift Tianjin towards a market-driven economy while integrating the city with Beijing and Hebei province nearby to create a regional economic hub.
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Singapore companies should tap the opportunities provided by these developments, said Minister for National Development Khaw Boon Wan as he closed the STETC meeting.Â