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| Singapore should expand its focus to attract global mid-sized firms and Asian enterprises |
| 3 Feb 2010 |
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By May Wong
Singapore should broaden its corporate landscape by attracting global mid-sized firms and Asian enterprises to set up base here.
This is an expansion of Singapore's focus to entice multi-national companies.
Singapore is now home to about 7,000 MNCs.
This is just one of the proposals which the Economic Strategies Committee has come up with.
Under a sub-committee which studied developing a vibrant and diverse corporate landscape, it says global mid-sized companies have niche capabilities.
They can then help to drive innovation in Singapore.
As for attracting Asian enterprises here, the sub-committee feels that Singapore's strategic location will help them grow regionally and internationally.
Singapore is aiming to attract firms in sectors like aerospace and medical technology.
And to make Singapore attractive to such firms, the sub-committee proposed developing managerial talents and create better linkages with Singapore-based enterprises.
Co-Chairman of the Sub-Committee, Leo Yip says having a strong and diverse mix of companies here is the new way for Singapore to grow.
"How will this benefit Singaporeans? This attraction of a richer mix of companies in Singapore will offer Singaporeans a wider range of jobs, certainly much more exciting career opportunities that provides them with a regional focus and certainly even a global focus."
The sub-committee's other proposals include encourage the setup of corporate universities and programme to groom corporate leaders, beef up Singapore's professional services capabilities and set up an Institute of Asian Consumer Insights.
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