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 senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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