More collaboration opportunities for Singapore and China firms

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Attracting Chinese companies into Singapore may lead to the Republic’s small and medium enterprises (SMEs) having more competition, but it also means more opportunities for the SMEs to gain a share of the Southeast Asia market.

Senior Minister of State for Trade and Industry Lee Yi Shyan said this when he spoke to Channel NewsAsia at the China-ASEAN Expo in Nanning on Wednesday (Sep 17). The Singapore Day seminar, held at the China-ASEAN Expo, attracted about 300 representatives from various companies in China which wanted to learn more about setting up a business in Singapore.

With more of these companies setting up in Singapore, Mr Lee foresees more collaborations between local and the Chinese companies, to venture into a larger market.

He said: “There are more opportunities than we can individually tackle. So one way is to combine our strengths in terms of our capabilities and some of the companies’ human resources or their skill of operations to address some opportunities in the region. I see it as a win-win for many of our companies.”

One attraction for investors is that Singapore is the world’s second-largest offshore yuan centre, which enables businesses to trade directly in Chinese yuan.

Mr Lee also shared that financial institutions are looking into creating more Chinese yuan-related investment products in Singapore to boost the Chinese yuan market.

 

Source : Channel News Asia | September 17, 2014

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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