SM Goh: Govt to facilitate growth of external wing
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Govt will play active facilitator role in efforts to grow external wing: SM Goh
By S.Ramesh, Channel NewsAsia | Posted: 16 February 2010 2030 hrsSINGAPORE: The government will facilitate Singapore's growth of an external wing, said Senior Minister Goh Chok Tong in his address at the Business China Spring reception on Tuesday.
With Singapore nearing its constraints of land and labour, Mr Goh said the government must increase the country's Gross National Product (GNP) and he urged companies in the frontline to lead the way.
Singapore recognised China's potential soon after China began opening up its economy in 1978.
And because of these early efforts, China is today Singapore's third largest trading partner and top investment destination.
Looking ahead, SM Goh said Singapore must find opportunities to ride on China's growth.
He said: "When Goldman Sachs predicted back in 2003 that China's GDP would overtake that of the US in 2041, it was met with some scepticism. But no longer.
“In fact, the dislocation brought about by the recent global financial tsunami had accelerated time. Goldman Sachs now believes that China will become the world's largest economy by 2027, 14 years sooner than earlier predicted.
“In a research report put out last month, PWC went even further, believing that China would overtake the US as early as 2020, a mere decade from now. Of course, this is in terms of the size of GDP. In GDP per capita terms, China will take much longer to catch up with the US."
So, IE Singapore will continue to organise business missions to international trade fairs, and engage emerging regions.
In order to help local companies gain an even stronger foothold in China, Singapore has also concluded a Free Trade Agreement with China, the first Asian country to do so. This came into force in January last year.
And Mr Goh explained there is more to it when engaging China.
He explained: "To do business in China, Singaporeans need to understand nuances of Chinese business culture. Being able to speak the same language is critical in networking and developing rapport.
“The Ministry of Education is therefore looking at how to make Chinese lessons in our schools even more engaging. Those students with the interest and aptitude are being encouraged to pursue Higher Chinese at Primary and Secondary levels. In fact, more than a quarter of Chinese Language students are currently studying Higher Chinese at 'O'-Levels."
Meanwhile, Business China has also launched the Young Leaders Programme.
Genie Quek Jing Yi, Business China Young Leaders Programme, said: "You have to be independent, flexible, open-minded and you must be hardworking and be able to adapt to their culture and Chinese and their working environment."
Steven Goh Zhixiang, Business China Young Leaders Programme, said: "I see it as a platform for me to know China better and in a way for the Chinese to know Singapore better."
The programme aims to grow a pool of young enthusiastic Singaporeans for careers in China.
Through it, they gain valuable work, live and play experience in China.
Corporate members of the programme can select suitable trainees to be attached to their China offices.
They receive attractive funding and can also recruit the trainees after the attachment period to strengthen the China-readiness of their workforce.
Among the companies offering attachment vacancies are AnnAik Limited, BreadTalk Group, CapitaLand, EnGro Corporation, Hi-P International, Keppel Land International, ST Engineering and Yanlord Land Group.
Mr Goh said the programme complements efforts of the public sector in cultivating more bilingual and bicultural talents to spread Singapore's wings in China. - CNA/vm
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Frankly, I am tired of them saying such stuff. It is more of a wayang wayang. Talk so much but do we all see any action in helping the singaporeans??
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Originally posted by Fantagf:
Frankly, I am tired of them saying such stuff. It is more of a wayang wayang. Talk so much but do we all see any action in helping the singaporeans??
What else can they say? They are so untrue.
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Originally posted by Chew Bakar:
What else can they say? They are so untrue.
So very fake.The wayang actors actresses act better than them. Pay them millions in return we get this type of performance. Singaporeans are really shortchanged
Talk who don't know.
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Originally posted by Fantagf:
So very fake.The wayang actors actresses act better than them. Pay them millions in return we get this type of performance. Singaporeans are really shortchanged
Talk who don't know.
If talk only, I think Sgf got plenty talents.