The spotlight was on Queensland companies with expertise in senior living during a TIQ-led trade mission to China and Singapore in May.
It was the latest foray into the Asian market for the Australian Silver Industry Group (ASIG), a consortium of Queensland businesses with expertise in the aged-care sector.
China is a key market, with its ageing population predicted to reach 500 million by 2050.
This mission focused on the second-tier Chinese cities of Wuhan and Chengdu, where there is strong interest from the local governments and industry stakeholders to engage with the consortium.
A highlight of the mission was the signing of a strategic cooperation agreement between Chinese investment firm Yango Holding Co. and ASIG member RDNS (the China subsidiary of Queensland business Bolton Clarke).
This agreement provides a pathway for Yango and the consortium to commence detailed negotiations on projects and is the result of a relationship forged by the two companies and fostered by ASIG.
Bolton Clarke Group CEO Stephen Muggleton said the involvement of TIQ had been integral in taking the next step towards a joint venture with Yango in Shanghai, which supports a population of 30 million people.
Yango travelled to Queensland in March to meet with TIQ.
‘The strong support of TIQ and particularly Chair Steve Bredhauer has underpinned our success throughout the competitive bidding process,’ Mr Muggleton said.
‘TIQ’s leadership in coordinating Yango’s visit to Queensland was invaluable.
‘It has allowed us to progress this outstanding opportunity to share aged-care expertise, and support China’s growing ageing population across 8 sites and 3,000 senior living units.’
In Singapore, ASIG took part in the 10th International Ageing Asia Innovation Forum.
ASIG held meetings with the Ministry of Health Holdings (MOHH), which represents Singapore Health Services, the National University Health System, and National Healthcare Group.
Queensland Trade and Investment Commissioner for ASEAN Tom Calder said ASIG shares MOHH’s vision to champion a healthy nation and ensure that people live well, long and with peace of mind.
‘In the coming months we will be working to unlock synergies between ASIG and MOHH,’ he said.
‘We will begin by finding ways to share Queensland’s approach to assisted living with local providers.’
Mission leader and TIQ Chair Steve Bredhauer said providing quality options for senior living was a global challenge that ASIG could help other countries meet.
‘ASIG was established by the Queensland Government to create a unique consortium that is working with senior-care providers around the world,’ he said.
‘Our members offer expertise in senior-living design and construction, operations, training and products and supplies, including technological innovation.’
This consortium is the first of its kind in Australia and was established in 2018 as an initiative of the Queensland Trade and Investment Strategy 2017–2022.
The latest mission ran from 5–15 May.
ASIG mission members