Singapore Assists Guangdong with Economic Transformation
The latest Singapore-Guangdong Collaboration Council meeting, which saw the signing of 14 MoUs and agreements marks a new chapter in the province’s economic transformation, says Asiabiz Services. http://www.asiabizservices.com/singapore-guangdong/
Singapore (PRWEB) August 23, 2012
The recently-concluded Singapore-Guangdong Collaboration Council (SGCC) meeting was consummated with the signing of 14 Memorandums of Understanding (MoUs) and agreements, marking a new milestone in Guangdong’s economic transformation. The Council, which convened last week in Singapore, has also identified software development as an area for collaboration.
The SGCC has also confirmed the establishment of Media Hub and Automation Hub, two thematic projects in the Guangzhou Knowledge City. The hubs aim to advance media solutions as well as manufacturing services offerings.
Analysis by Asiabiz shows that the SGCC, which has extended its term for another three years till 2014, has been instrumental in strengthening bilateral ties between Singapore and Guangdong. Over the last three years, trade between the two economies has grown by 4.9% annually. In addition, Singapore’s accumulated investments in the Guangdong registered US$1.4 billion over the same period. Last year, Singapore was Guangdong's third largest trading partner in ASEAN, and more recently, In H1 2012, its bilateral trade registered US$8.4 billion.
Moving forward, enterprises that have opted for Singapore company formation are expected to pump approximately US$6 billion over the next five years to further Guangdong’s economic transformation. They are set to share their know-how in areas such as traffic management, real estate and waste management, public housing development, community building and most saliently, the province’s software development industry; an area said to be key to its economic metamorphosis.
The republic’s National Trades Union Congress Learning Hub will also embark on a pilot training project to assist with Guangdong's efforts to develop high-skilled manpower.
“These efforts not only place Singapore as thought leaders and industry mentors but bolsters its reputation as a model economy in Asia. Through these efforts, Singapore not only casts a wider net for its enterprises to expand their reach and influence, but compel others to set up base and opt for Singapore company registration,”explained Mr. James Nuben, Head of Tax Divison at Asiabiz Services.
“Upon incorporation, companies can tap a multitude of advantages including, great connectivity, solid infrastructure, attractive Singapore corporate tax rates, the Productivity and Innovation Credit (PIC) scheme as well as various grants that help bring their businesses to greater heights,” he added.
ABOUT ASIABIZ SERVICES
Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include Singapore company registration, incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides Singapore work visa and immigration services for foreign professionals wishing to relocate to Singapore.
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Phone: +65 6303 4614
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/8/prweb9829629.htm