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| Saudi investment firm taps Singapore's expertise for competitive edge |
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| SINGAPORE: The expertise of Singapore's public sector will soon find its way to Saudi Arabia. |
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| Saudi Arabian investment firm, Ark Capital Holdings, signed an agreement on Tuesday with the newly-launched Singapore Cooperation Enterprise (SCE), an agency which is aiming to export Singapore's public sector capabilities. |
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| Ark Capital wants to tap Singapore's expertise to give its projects a competitive edge. |
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| The first project will be to set up a training institute for the leisure and hospitality industry which will benefit companies with projects in the MiddleEast and North African region. |
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| The Singapore Tourism Board and relevant educational institutions in Singapore will also be roped in to carry out the task. Launching the SCE on Tuesday, Senior Minister Goh Chok Tong said the agency would focus on the Middle East including the Maghreb region, followed by China.SM Goh said: "The potential in the Middle East is great. Countries there have tremendous resources which they are using to build new cities and new infrastructure.Through SCE, we can provide Singapore's expertise in such areas as township and industrial planning, infrastructure and public sector transformation." |
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| SCE recently signed a memorandum of understanding with Qatar's Finance Ministry to review its operations. Singapore-based CrimsonLogic will implement the IT solutions under this agreement, an example of how a public-private partnership project driven by the SCE can spin off opportunities for the private sector. |
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| SCE CEO, Alphonsus Chia, said: "We want to go into the implementation stage, some of these big projects that we are working very hard on, bringing in not just our partners in the other government agencies but also the private sector, to demonstrate that this is definitely something that is do-able." Another agreement is with Al-Oula Real Estate Development of Saudi Arabia. It will tap on the Singapore industrial park development expertise for a township. |
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