Singapore-based companies will be given the chance to expand into Asia using three government-proposed strategies.
According to Mr. Lim Hng Kiang, Minister for Trade and Industry, the Government has designed three strategies to help Singapore-based companies grab growth opportunities, become competitive and eventually expand in Asia.
These strategies are to make Singapore a Global-Asia business centre, to re-position current clusters and expand emerging ones and to pursue productivity-led growth.
Today’s companies are operating globally; many conduct activities across Asia, and coordinate them from “control towers”. Their functions include commercialization, innovation, talent and supply-chain management.
“Our political stability, connectivity, access to talent and educated workforce make Singapore a compelling destination for global and regional control towers,” said Mr. Lim.
“To be a Global-Asia hub, our value is not just location. Our companies must also understand the business environment in Asia.”