Yicheng municipal government signed a contract with International Enterprise Singapore (IE Singapore) to construct an industrial park for middle and small-sized enterprises in Yicheng economic development zone.
It will be the first foreign industrial park in Yicheng, central China’s Hubei Province. With a total investment of 1 billion Yuan (US$ 159.9 million), the project will attract 30 Singapore middle and small-sized enterprises engaged in food processing and electronic information after completion.
The construction will last 5 years, and a Yicheng (Singapore) food processing and electronic production base will be formed in 2020, with a yearly output value of 5 billion Yuan (US$ 799.5 million) and 3000 newly created jobs.
IE Singapore is a government agency driving Singapore’s external economy. It spearheads the overseas growth of Singapore-based companies and promotes international trade. It has established over 35 offices around the world.
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