Business, political leaders at forum discuss
new opportunities, especially for SMEs
Singapore-Japan
ties are already on a solid footing, but the relationship looks set to become
even stronger as business and political leaders explore exciting new areas of
bilateral collaboration.
At a
Singapore-Japan business forum yesterday to mark 50 years of diplomatic
relations, speakers highlighted opportunities to collaborate in developing
innovative solutions, particularly for small and medium-sized enterprises
(SMEs).
Mr Lim
Hng Kiang, Minister for Trade and Industry (Trade) urged Japanese firms to join
their Singapore counterparts to take advantage of Asean's vibrant growth.
One way
is to use Singapore as a base to develop new technologies, he said, citing the
example of Japanese flavours and fragrance firm Takasago, which develops and
tests halal food products here.
Said Mr
Lim: "Singapore is a microcosm of a highly diversified Asia... This makes
it an ideal location for the Japanese to undertake innovation-intensive
activities and develop solutions for the region."
Japanese
firms can also work on innovative solutions with Singapore firms, which can
then be used to access third countries, he said, citing Japanese information
technology giant NEC's collaboration with ST Electronics to commercialise its
cloud services in the region.
The
Straits Times was a media partner for the forum, and Mr Ignatius Low, managing
editor of Singapore Press Holdings' English, Malay and Tamil media division,
moderated a panel discussion at the event.
He asked
panel members why there would be benefits in collaboration for Japan and
Singapore, as both have track records of "going at it on their own".
International
Enterprise Singapore chief executive Lee Ark Boon said while large firms tend
to have their own supply chain of services, he saw opportunities for SMEs.
"Two
smaller firms together can offer a potentially much stronger and cheaper
product than what a bigger, single company can offer," he said.
Collaboration
can be fruitful even for large firms as they move farther afield to markets
with which they are less familiar, he added.
Mr Robert
Yap, chairman of the Asean Business Advisory Council and executive chairman of
YCH Group, said Japanese firms that came to the region tended to be large
conglomerates with their own supply chains, but more Japanese SMEs are heading
here now. "That could be an area which Singaporean firms can leverage on.
IE can try to connect these companies," he added.
Citing
his experience of learning to sing in Japanese and working with Japanese
clients much older than him, Mr Yap said Singaporeans need to develop the
cultural know-how to work closely with Japanese firms.
Singapore
Business Federation (SBF) chairman Teo Siong Seng, speaking on the sidelines of
the forum, said SBF was working with the Japanese Chamber of Commerce and
Industry to get more Japanese firms to join SBF's business trips.
"For
instance, Japanese firms would like to visit Myanmar with Singapore firms...
During these visits, perhaps Japanese and Singapore firms can come together to
explore opportunities."
The
Singapore-Japan love affair also extends to the love of food. While
Singaporeans have long loved Japanese food, with Japanese restaurants making up
15 per cent of the food and beverage sector here, Japanese consumers are
developing a taste for Singaporean food.
Mr Teo
said the trend had been for Japanese firms to invest here, but there were opportunities
in Japan for local firms. In fact, iconic Singapore food businesses like Jumbo
and Bee Cheng Hiang have set up shop in Japan, he added.
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