Sino-Singapore Tianjin Eco-City and Singapore launch enterprise policies

(| Updated : 2024-04-01

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The Sino-Singapore Tianjin Eco-City held a Sino-Singapore enterprise exchange meeting in Singapore on March 27, during which the two sides launched the "6+9" policy package to encourage Singaporean companies to invest and develop in the eco-city.

The "6" represents policies launched by Singaporean departments to encourage the island nation’s enterprises to develop in the Eco-City, while the "9" represents policies by the Eco-City to support international companies, including those from Singapore, to invest in the area.

The 15 policies cover the entire growth cycle of enterprises, from investment decision-making and landing operations to market development, and are supplemented by corresponding guarantees. They aim to help international companies, including those from Singapore, better enter the Beijing-Tianjin-Hebei market through the Eco-City.

During the preliminary investigation phase, the Eco-City encourages enterprises to come for investigation and exchanges. For international companies, including those from Singapore, the Eco-City provides transportation and accommodation subsidies for up to 4 people per company, with each person receiving a maximum of 50,000 yuan($6918). Singapore will also provide financial support in areas such as Mutual Recognition Arrangement, Double Tax Deduction for Internationalization, and support for promotional activities organized by the Singapore Business Association.

During the operational phase, the Eco-City provides enterprises with up to 1.3 million yuan in financing support. Additionally, during the first three years, companies are eligible for rental subsidies of 100 percent, 80 percent, and 60 percent respectively.

Comprehensive support is provided to employees regarding living arrangments, including family housing, a spousal subsidy and children's education.