Sino-Singapore Tianjin Eco-city Administrative Committee and Singapore's Ministry of National Development inked a Memorandum of Understanding (MOU) for a research and development (R&D) collaboration program for Tianjin Eco-city on Monday.
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According to the ministry's press release, the two sides will each set aside up to 2 million Singapore dollars (USD 1.61 million) a year for 3 years to fund research projects relating to green building technologies which are jointly undertaken by Singapore and Chinese researchers in Tianjin Eco-city.
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The two sides will respectively fund the approved expenses of the two countries' researchers.
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Each research project will have a funding cap of 1 million Singapore dollars and should complete within two years.
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The ministry also said the research proposals will be assessed "based on factors such as their relevance to the Tianjin Eco-city' s developmental needs, their technological and innovation merits, their impact and cost-effectiveness, and the capabilities of the research team."Â