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Media Releases
22 Dec 2020 Updated 18 Jan 2021

Singapore and Zhejiang focus cooperation in pandemic resilient areas of trade and connectivity innovation and sustainable urban management

MR No.: 103/20

Singapore, Tuesday, 22 December 2020

Singapore and Zhejiang will deepen their collaboration in trade and connectivity, innovation and sustainable urban management, as Zhejiang develops its digital economy and expanded Free Trade Zone. This was discussed at the 15th Singapore-Zhejiang Economic and Trade Council (SZETC) meeting today, co-chaired by Senior Minister of State for Communications and Information & National Development, Ms Sim Ann, and Zhejiang Vice Governor, Mr Zhu Congjiu.

Despite the COVID-19 pandemic, Singapore-Zhejiang economic collaboration remains strong and resilient. In the first three quarters of 2020, Singapore’s cumulative actual investments into Zhejiang reached US$7.39 billion (+11.5% year-on-year). To date, there are over 1,400 Singapore projects in Zhejiang. Seven commercial Memoranda of Understanding (MOUs) ranging from waste management, urban planning to training were signed at the council meeting today.

To foster further collaboration between Singapore and Zhejiang, Enterprise Singapore and Zhejiang Department of Commerce also signed an MOU to drive cooperation and exchanges in the next two years under three key themes (i) Trade and Connectivity, (ii) Innovation Exchanges and (iii) Sustainable Urban Management. The new focus is in line with China and Zhejiang’s development priorities in digital economy, sustainability and maintaining trade and connectivity with the international markets and supports Singapore’s efforts to be a Global-Asia node for technology, innovation and enterprise.

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