Singapore and Chongqing deepen collaboration in financial providers, healthcare and other sectors

SINGAPORE – Thirty agreements have been inked between Singapore and Chongqing organisations on Monday (April 11), because the Republic and the key Chinese metropolis look to additional collaboration in areas akin to financial providers, healthcare and logistics.

These included the renewal of the memorandum of understanding (MOU) between Singapore’s Infocomm Media Development Authority (IMDA) and Chongqing Big Data Development Bureau to cooperate in the sphere of knowledge, communications and media.

The settlement will see the continuation of the Joint Innovation Development Fund, which has facilitated partnerships between Singapore and Chongqing corporations. The fund has supported 18 tasks in numerous areas like commerce logistics and sensible manufacturing up to now.

The MOUs have been signed on the seventh Joint Implementation Committee assembly for the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, which was held nearly on Monday, the Ministry of Trade and Industry (MTI) mentioned in an announcement.

The assembly was co-chaired by Minister for Communications and Information Josephine Teo and Chongqing mayor Hu Henghua. Minister of State for Communications and Information Tan Kiat How additionally attended the assembly.

During the assembly, the co-chairs reaffirmed the progress achieved by the joint initiative. In explicit, they welcomed the approval granted to Singapore’s flag service Singapore Airlines to utilise Chongqing as its bonded distribution base for its plane elements.

This will strengthen air connectivity between Singapore and China, and assist Chongqing’s improvement as an aviation hub, MTI famous.

Mrs Teo and Mr Hu additionally mentioned methods to deepen and additional collaboration below the joint initiative’s three other precedence sectors: financial providers, data and communications expertise, and transport and logistics.

Both sides agreed to additionally discover alternatives in rising areas such because the digital financial system and inexperienced financial system.

Said Mrs Teo: “Our commercially pushed and government-supported method places us in place to seize progress alternatives in these new and rising areas.

“With its multifaceted approach to connectivity, the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity has the flexibility to explore wide-ranging collaborations, pilot initiatives, and develop mutually beneficial projects.”

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