Singapore companies optimistic about growth in China's north
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SINGAPORE : The Chinese government's push to revive the northeast economic region is bearing fruit.
Singapore companies with businesses there say they are happy with their results from the Liaoning region, which is one of the up-and-come special economic zones in China.
And they see more potential for growth ahead.
They were sharing their insights at a Singapore-Liaoning Economic and Trade Council meeting on Wednesday.
Singapore's biggest land transport company, ComfortDelgro, has been riding the business wave in China's northeast region.
In fact, turnover in its China market jump 50 percent on year to S$130 million in 2004.
Said Choo Peng Yen, senior vice president of business development at ComfortDelGro, "We're very positive about economic development in China. We see a lot of opportunities and we're going to capitalise on these opportunities. We will offer the whole of land transport services -- taxis, buses, workshops, vehicle inspections, driving schools."
The driving force for companies like ComfortDelgro is the potential high growth in the Liaoning region.
Another Singapore firm that is seeing huge potential in Liaoning is the engineering and construction player, SembCorp Engineers & Constructors.
The company does master planning for two northeastern industrial parks.
It says the Singapore brand and image has been one factor that has helped it win contracts with the local Liaoning government.
Said Wong Heang Fine, president and CEO of SembCorp E&C, "It's important for Singapore service sector to always preserve that Singapore branding of quality and reliability. That's very important, particularly in the northeast, where we build on trust, and moving forward, how they think that they'll derive value from engaging your services."
SembCorp E&C says its China turnover represented 7 percent of its order book of S$2.1 billion.
The way has been paved for more deals to be sealed in future.
Helping this along is the Singapore-Liaoning Economic and Trade Council, which met in Singapore to talk more about its key initiatives for this year. – CNA /ct -
the Taiwanese have been in the North for years
with their seemingly never ending bags of cash...
a million and 1 incentives before for investments in
the South..all went claypot
now d North... hope not too many get burned
again... overnight provincal policy change and its
bye bye mercedes and hello Official Assignee
but good luck for those who wanna try..