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Singapore to boost involvement in Guangdong's Greater Bay Area development

Singapore and Guangdong have renewed and expanded their business partnership, signing over 20 memorandums of understanding (MOUs) at the 13th Singapore-Guangdong Collaboration Council meeting. The expanded partnership will now include three new areas: sustainability and green economy; digital economy and smart cities; and health and biomedical. Guangdong Governor Wang Weizhong invited Singapore to play a bigger role in developing the Greater Bay Area. Guangdong has been Singapore's leading provincial trading partner for 34 years, with trade reaching a record USD23.1bn in 2022. The 21 agreements signed at the meeting involve sectors such as edutech, fintech, health, intellectual property, and energy. Enterprise Singapore also signed an MOU to offer increased support to Singaporean companies looking to establish a presence in the China-Singapore Guangzhou Knowledge City.

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