Singapore's belief in Tianjin

Singapore signed 22 projects worth S$850 million ($672.7 million) with Tianjin in the first eight months this year, and the little Southeast Asian nation is now the municipality's fifth largest foreign investor.

Tianjin's shift towards a market-driven economy is the motivating factor in the boom of business cooperation between Singapore and Tianjin, says Khaw Boon Wan, Singapore's Minister for National Development, during the seventh Singapore-Tianjin Economic and Trade Council meeting held in Tianjin recently.

Investments by Singapore companies in Tianjin increased by three percent last year to a total value of $940 million.