Chinese and Singaporean Businesses Working within the fields of ICT And media have gotten a boost with the launching of a new fund to encourage collaborations among them.
The China-Singapore ICM Joint Innovation Development Fund covers Technology like blockchain, Web of Things (IoT), artificial intelligence, augmented reality and robotics.
History of Collaboration
A report By Singapore Business Times shows that the fund supports the joint development and installation of jobs in country, under the frame of a new Memorandum of Understanding involving Enterprise Singapore together with all the Infocomm Media Development Authority of Singapore, along with the Chongqing Economy and Information Technology Commission.
Under the frame, Singaporean companies within the fields will Receive help to input Chongqing and operate on the growth of bright districts from town. At that time, there wasn’t any sign regarding the original value of this fund.
Signed on Day two of those continuing FutureChina Global Forum and Singapore Regional Business Forum 2018, the MOU was clearly one of a variety of arrangements by several organisations on Tuesday August 28 within their China-Singapore (Chongqing) Connectivity Initiative (CCI), which intends to aid collaborations in ICT, financial services tourism and health care.
Singapore’s Minister for Trade and Industry, Chan Chun Sing and Mayor Of Chongqing, Tang Liangzhi were present to witness the signing up in what had been Liangzhi’s first official trip to Singapore since getting Chongqing Mayor at January 2018.
For Singapore and Chongqing, the CCI represents an Integral part of this Cooperation approach to facilitate easy transport of goods between China and Southeast Asia through Singapore. Singapore plays a very significant part in helping Chinese commerce with the rest of the Earth, and because the CCI’s 2015 launching, there’s been a significant quantity of cooperation on tourism and health care projects between both nations.
Blockchain technology provides Singapore the Chance to expand its Economic expansion through easy facilitation of commerce, by virtue of its place on a key worldwide delivery route. Speaking at the event, the Singaporean Trade and Industry Minister noticed that connectivity within the context of this 21st-century market must include fund, data, ability and technology.
Yesterday, as per reports That Singapore’s stock market announced a working partnership with the nation’s central bank to come up with a blockchain platform for securities’ settlements.
The planned project will construct to a proprietary blockchain made by the Singaporean central bank as part of their’Project Ubin’ initiative to tokenize the Forex Currency into an electronic money.
