Singapore digest news (16.01-21.01)

Photo by Anna Smirnova

Uzbekistan and Singapore sign agreements worth $5 billion

President Shavkat Mirziyoyev held a meeting with the heads of leading companies and financial institutions in Singapore. During the meeting, the sides underscored the results of the Uzbek-Singapore business forum held the day before, during which the sides signed new investment, trade and financial agreements worth nearly $5 billion. Shavkat Mirziyoyev shared his plans to attract about $30 billion worth of investments in 2023, and launch over 300 projects worth $8 billion.

The Uzbek side expressed readiness to provide Singaporean entrepreneurs with the necessary industrial infrastructure, extensive support in the form of privileges and guaranteed purchases, as well as other measures of assistance. Shavkat Mirziyoyev urged Singaporean entrepreneurs to take advantage of the emerging opportunities for mutually beneficial cooperation and actively invest in the economy of Uzbekistan.Following the meeting, the responsible leaders from the Uzbek side were assigned to develop and approve a practical action plan that would include all announced projects and specify step-by-step mechanisms, specific deadlines and performers


Tour agencies turn to social media, Singapore’s hidden gems to woo Chinese tourists

Tour agencies in Singapore are stepping up their game to attract Chinese tourists after China reopened its borders on January 8.

Some are trying to stand out by drawing up new itineraries with unique experiences, and taking to Chinese social media in direct marketing campaigns.

New offerings include tours that take tourists away from the usual hotspots and shopping malls, to less trodden areas for more localised experiences.

These include trips to Singapore’s offshore islands such as Lazarus Island, St John's Island and Pulau Ubin, as well as dinners at kelongs.


Lawrence Wong made first official visit to Brunei as Deputy Prime Minister

Singapore’s Deputy Prime Minister Lawrence Wong visited Brunei Darussalam from Wednesday (Jan 18) to Thursday.

This is his first official visit to the country in his current capacity, the Prime Minister’s Office (PMO) said on Wednesday. Mr Wong will have audiences with Brunei’s Sultan Hassanal Bolkiah, as well as Crown Prince and Senior Minister at the Prime Minister’s Office Al-Muhtadee Billah.

Additionally, Mr Wong will meet members of the Singaporean community in Brunei, the PMO said.


Singapore's non-oil exports fall 20.6% in December; third straight month of decline

Singapore's non-oil domestic exports (NODX) fell for the third straight month in December due to weak global demand. NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November.

According to data released by Enterprise Singapore (EnterpriseSG) on Tuesday (Jan 17), the drop was led by both electronics and non-electronics products.On a year-on-year basis, electronics contracted by 17.9 per cent in December, following the 20.2 per cent decline in the previous month.

Integrated circuits, disk media products and personal computer parts decreased by 26.0 per cent, 36.5 per cent and 41.7 per cent respectively, contributing the most to the decline in electronics.


Construction of Cross Island Line begins, with 12 stations in Phase 1

Construction of Phase 1 of the Cross Island Line (CRL) – Singapore’s eighth MRT line – began on Wednesday (Jan 18).

Daily ridership for the Cross Island Line is expected to hit 600,000 when it opens for service in 2030, with that number eventually increasing to more than 1 million.

Expected to be completed by 2030, Phase 1 of the CRL will comprise 12 stations: Aviation Park, Loyang, Pasir Ris East, Pasir Ris, Tampines North, Defu, Hougang, Serangoon North, Tavistock, Ang Mo Kio, Teck Ghee and Bright Hill.