Economic MOU will inject billions into Central Qld
SINGAPORE is poised to spend $2.25 billion in Queensland between Townsville and Shoalwater Bay over the next five years according to Capricornia MP Michelle Landry.
Ms Landry cited the figures following an address from the Singapore Prime Minister Lee Hsien Loong to a rare joint sitting of Federal Parliament yesterday.
The Singaporean leader and Australian Prime Minister Malcolm Turnbull will today sign an MOU as part of a new Comprehensive Strategic Partnership (CSP) which provides for a trade, innovation and military agreement.
"Under the arrangement over the next five years or so, Singapore will spend $2.25 billion in Queensland shared between Townsville and Shoalwater Bay near Rockhampton and Yeppoon in a relationship expanding at least 25 years,” Ms Landry said.
"Up to 14,000 Singaporean troops will visit the state each year, up from 6000. This will inject jobs and growth ranging from construction to hospitality related industries.”
Ms Landry said the CSP provides for a trade, innovation and military agreement to enhance:
. military and departmental exchange postings between the nations
. new training initiatives and greater collaboration;
. greater intelligence sharing; and
. expanded joint science and technology research.