Government's Efforts to Raise Awareness for Business Opportunities Offered by Multi-national Corporations
Ministry of Trade and IndustrySpeakers
Summary
This question concerns whether the Economic Development Board (EDB) can better promote business opportunities from Singapore-based Multi-national Corporations (MNCs) to local suppliers and industry associations. Minister for Trade and Industry (Trade) Lim Hng Kiang stated that EDB encourages MNCs to partner with local SMEs and facilitates visits from overseas executives to explore outsourcing. He highlighted collaborations with SPRING Singapore to groom SMEs in the cleantech sector and facilitate partnerships like the one between Green Koncepts and DNV GL. Economic agencies also work with Trade Associations and Chambers to host networking events and supplier conferences, such as the Airbus conference at the Singapore Airshow. These initiatives aim to help local firms develop competitive solutions and expand their presence into regional and international markets.
Transcript
58 Mr Thomas Chua Kee Seng asked the Minister for Trade and Industry (Trade) whether EDB can continue to directly promote more awareness of business opportunities arising from Singapore-based MNCs to local SME suppliers or through their relevant industry and trade associations.
Mr Lim Hng Kiang: The Economic Development Board (EDB) actively encourages the MNCs it engages to partner local SMEs. Besides engaging MNCs in Singapore, EDB also facilitates regular visits by overseas-based MNC executives to assess possible partnerships with local SMEs in Singapore, including outsourcing opportunities. These will continue to be priorities for EDB.
For example, EDB and SPRING Singapore have been actively working with MNCs to groom promising SMEs and start-ups in the cleantech industry, including both the water and clean energy sectors. One such partnership that EDB and SPRING Singapore have facilitated is between Green Koncepts (a local SME offering energy management system solutions) and DNV GL (an MNC that offers testing, inspection and certification services for sectors, such as cleantech and marine and offshore). Under this partnership, Green Koncepts is developing building and home energy management solutions at NTU. If successful, these solutions could be exported to regional markets.
Our economic agencies also work with the Trade Associations and Chambers (TACs) to create networking opportunities between MNCs and SMEs through industry collaborative platforms and dedicated supplier conferences. For example, in conjunction with the Singapore Airshow 2016, EDB partnered SPRING Singapore and the Association of Aerospace Industries (Singapore) to organise an Airbus supplier conference. This conference was attended by over 30 Singapore-based companies, many of whom were new to the aerospace industry.