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TIANJIN, Nov 1 Asia Pulse - Hyflux Ltd (SGX:600) from Singapore recently invested US$90 million to construct a seawater desalination plant in Tianjin Dagang District, the largest in China.
Investment from Singapore in Tianjin has kept growing in recent years. According to statistics, the municipality newly approved 37 enterprises funded by investors from Singapore in the first nine months of 2005, with contractual foreign capital reaching US$260 million, up 131 per cent year on year.
Singapore is one of the major investment partners of Tianjin. The city approved 33 such enterprises in 2004, with contractual foreign capital reaching US$170 million, up 174 per cent year on year; and actual foreign capital paid reaching US$115 million, up 80 per cent. By the end of September 2005, the city had approved a total of 547 enterprises funded by investors from Singapore, with contractual foreign capital involved reaching US$1.234 billion, and the actual amount of foreign capital paid, US$958 million.
Meanwhile, trade between the city and Singapore is growing brisk. According to Customs statistics, the city's import and export volume with Singapore reaching US$2.465 ...