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
