Trade and Industry Minister Lim Hng Kiang has urged Singaporean and Malaysian companies to grab opportunities in both countries to reach a more competitive global position.
With the uncertainties in the global economic climate, the two neighbours should find collaborative niches in services and manufacturing to “reinforce each other’s growth”. He said this would help both nations “ride out the economic volatility” ahead.
Mr Lim highlighted these points at the annual Malaysia-Singapore Business Forum, which had around 700 participants, in an effort to foster business collaborations and share updates on the latest policies.
He called on Singaporean firms in particular to capitalise on the comparative advantages in both Singapore and Malaysia and integrate business and manufacturing processes across the borders.
“In particular, the close proximity between Iskandar Malaysia and Singapore means that managing such integrated processes can be faster and easier.”
Should there be an effective match of connectivity and industries for both people and goods, Singapore and Malaysia could be a “seamless economic space” in the future, he added.
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