Singapore investments in Chengdu reach $3.9 billion

Singapore investments in Chengdu reach $3.9 billion

Pandas may attract Singapore tourists to Chengdu, but the capital of Sichuan province is attracting more than that from the Republic.

Total Singapore investments in Chengdu now stand at an impressive US$3.146 billion (S$3.878 billion).

The figure was disclosed by Mr Liu Jianing, head of the Chengdu Investment Promotion Commission's investment sales division, at a recent trade event.

At the "Win In The City Of Wealth - Chengdu" Investment Forum, he added that 299 Singapore firms were operating in Chengdu alone, as of March.

Speaking in Mandarin, Mr Liu said: "They come from various industries ranging from financial to real estate, to electronics and the service industries. Of course the more companies that come in, the better."

At the same forum, it was mentioned that property consultancy CBRE released a research report about the boost for upcoming prospects in Chengdu, after the 2008 Sichuan earthquake.

The firms include local electronics manufacturers Molex Singapore and CapitaLand, which is developing Raffles City, a mixed development in Chengdu.

At the Singapore-Sichuan Hi-Tech Innovation Park (SSCIP) located in the city, the value of investments has already hit 970 million yuan (S$196 million). This is expected to be exceeded this year.

Director and chief executive of the Sino-Singapore (Chengdu) Innovation Park Development, Mr Martin Cui, also wants to en- courage more Singapore companies to invest in the park in Zhonghe.

One feature, which Chengdu officials and Mr Cui believe will be a major pull factor for companies, is its green environment.

The park will have 18,000 sq km of "green lands", 17.5 per cent of the total area of the SSCIP.

Construction on a 2.8km road that connects to the park is due to start early this month.

The park will also have facilities such as a hospital, seven primary schools and two police stations.

Mr Cui said: "In the past 30 years, China has learnt a lot of lessons - from pollution, the environment - and the sacrifice has been great.

"If we were to repeat the mistakes of the past, the consequences would be great and would take many years to rectify."

With this in mind, he hopes to boost investor interest in the SSCIP and Chengdu as well.

He said: "I know many Singapore companies already have their eye on this project, and right now, we are in talks with those companies."

rachaelb@sph.com.sg


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