Friday, April 19, 2024

Sino-Singapore Tianjin Eco-City and Singapore roll out policy package to promote investment

China-Singapore Tianjin Eco-City Administrative Committee

TIANJIN, China, April 3, 2024 /PRNewswire/ — The Sino-Singapore Tianjin Eco-City has launched a series of activities in Singapore to promote investment and exchanges recently.

At the Sino-Singapore enterprise exchange activity, the two sides rolled out the “6 +9” policy package to encourage Singaporean enterprises to invest and develop in the Eco-City, according to China-Singapore Tianjin Eco-City Administrative Committee.

The 15 policies cover the whole growth cycle of enterprises from investment decision-making, settlement to market development, as well as support for daily life, seeking to help Singapore and other international enterprises better enter the BeijingTianjinHebei market through the Eco-City.

Support enterprise investment decision-making by reducing early costs

In the early inspection stage, the Eco-City encourages enterprises to visit the place for exchanges, and grants transportation and accommodation subsidies for international enterprises from Singapore and other places.

Four people from each enterprise can enjoy the subsidy, with a maximum of 50,000 yuan per person. In addition, Enterprise Singapore will also provide financial support from the Market Readiness Assistance-Grant (MRA), Double Tax Deduction for Internationalisation (DTDI) and other projects.

Ensure enterprises’ local operation with necessary support

In the local operation stage, the Eco-City gives 1000-3000 yuan of work allowance per month to employees with different degrees, and 1000 yuan of living allowance per month to interns.

The enterprises can enjoy financing support of up to 1.3 million yuan each. In the first three years, subsidies with the value of 100%, 80% and 60% of the rent will be given respectively, and subsidies of up to 1 million yuan will be given to enterprises to purchase business premises.

In addition, for enterprises settled in the Singapore center, the Eco-City joint venture (Sino-Singapore Tianjin Eco-City Investment and Development Co., LTD.) will also provide free business registration, bank account opening and first fiscal and tax annual report services, providing one-stop services for Singapore and other international enterprises to settle down in the Chinese market.

Support enterprises to open up markets and get orders as soon as possible

In the market development stage, the Eco-City gives up to 500,000 yuan of support to enterprises that purchase technology development, test testing, standard certification and other services.

For those who entrust a third party to carry out feasibility demonstration activities such as market customer research, they will enjoy financial support of 30%-50% of the contract payment amount.

Enterprises are encouraged to participate in domestic and foreign exhibitions and build domestic sales channels, which can enjoy marketing subsidies up to 400,000 yuan each.  In addition, Enterprise Singapore will also provide support through the Enterprise Development Grant-the Partnerships for Capability Transformation (EDG-PACT), and pilot projects and standards adoption.

Provide support for employees to settle down

In terms of daily life, employees are given on all fronts support. The Eco-City provides free talent apartments for enterprise executives, offer a monthly living allowance of 2,000 yuan for unemployed spouses of enterprise executives, and give their children a tuition subsidy of up to 30,000 yuan each.

During their stay in Singapore, the Eco-City delegation visited government agencies such as the Ministry of National Development and Enterprise Singapore, and held in-depth discussions with business associations such as the Singapore Chamber of Commerce and Industry, the Singapore Chinese Chamber of Commerce and Industry, and the National Association of Travel Agents of Singapore.

The delegation also visited leading Singapore enterprises such as Jurong Group, Keppel Corporation and CapitaLand Group, and conducted in-depth and pragmatic exchanges on autonomous driving, smart equipment, life and health, green building, supply chain management, technological innovation and achievement transformation, education and training with them to encourage them to invest in the Eco-City.

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