On the fifteenth of November, 2017, a couple of agreements were settled between Luxembourg and Singapore. These agreements are designed to strengthen R & D partnerships between the two companies. They will make it possible for new funding, to the tune of millions of bucks, to be funneled to research and development projects between both countries.

Xavier Bettel is the Prime Minister of Luxembourg and he was on hand to watch as the new agreements were inked. He did so in Singapore, while visiting the country for just a couple of days. On the morning of the fifteenth, he dropped by the Agency for Science, Technology and Research, which is known as A-Star for short, and then learned about projects which the agency has completed in the past.

In addition, he checked out the signing of an agreement known as the “memorandum of understanding between NTU and in Singapore (the tech university) and Luxembourg’s Institute of Science and Technology.

NTU anticipates receiving ten million Singapore dollars to twenty million Singapore dollars, which will be invested into ventures that are cooperative and which are designed to expand the scope of work performed in the R & D niche. At present, work is focused on ceramics and metals. When the funding is in place, researchers will have the power to apply three-D printing processes to composites. This type of printing with this type of material is ideal for applications of the industrial variety.

The second agreement was inked between the NRF (National Research Foundation) and the Luxembourg National Research Fund. The witnesses to the agreement were Prime Minister Bettel and the PM of Singapore, whose name is Lee Hsien Loong.

These new partnerships are so important. They are all about innovative collaboration and science and the first possible projects which will be put into place due to this new funding are slated to be set up during the first part of this year. Each project should receive about one and a quarter million dollars in funding. A trio of projects will be supported during each phase. Projects have a proposed timeline of three years.

Singapore is a Land of Opportunity

Singapore is known for providing exceptional opportunities to its citizens and foreign investors. Right now, the Singapore economy is growing slowly but surely and science, technology and entrepreneurship all receive a great deal of support from the government and key players in these niches of industry. In addition, Singapore has a very low crime rate and great real estate values.

In the future, the island city-state will likely receive quite a bit of new offshore investment, as those who are worried about Brexit begin to move their money out of Britain. So, in addition to this new development between Singapore and Luxembourg, there is a lot to be excited about when it comes to Singapore business news.

These types of agreements bring countries together. They often spark other agreements and even more trade and sharing of vital information. That’s why this agreement is a great thing for everyone.