Dr Kaizad Heerjee, Assistant Chief Executive, Online Development Infocomm Development Authority of Singapore Speech - Virtual Trade Mission, Ottawa
Dr Kaizad Heerjee, Assistant Chief Executive, Online Development
Infocomm Development Authority of Singapore
Speech - Virtual Trade Mission, Ottawa
Canada, 31 May 2000
Dear Canadian delegates of the Virtual Trade Mission Program,
1. I am very pleased to be here in Ontario to join in this VTM between Singapore and Canada. Since the establishment of the CanSing IT Joint Council, Singapore and Canada have always been working towards mutually benefiting collaborations for businesses in the 2 countries. The VTM program is one such example. I hope you will find this program rewarding.
2. As you are most probably aware, most Asian economies have recovered from the recent flu and Asia IT market is booming. According to GartnerGroup, about a quarter of all consumer transactions over the web (total US$170 billion) in year 2003 will be from Asia Pacific. Business-to-business e-commerce spending will reach a phenomenal US$800 billion in 2003, of which Asia Pacific will contribute a significant portion of US$280 billion.
3. Riding on this wave, many global companies such as HP, IBM, Andersen Consulting, Ariba Network, Compaq, EDS, ChemConnect, have established regional operations in Singapore to gain access into the Asian markets. Why Singapore?
4. With her stable political environment and English-speaking population, Singapore has always been an ideal launch pad to Asia. The 2000 rankings by the Switzerland-based International Institute for Management Development (IMD) sees Singapore retaining its overall standing as the second most competitive economy in the world, after United States. In addition, Singapore has a pro-business environment, competitive business costs, as well as good infrastructure in areas like finance, logistics and IT.
5. Recently, Singapore launched Infocomm 21, a blueprint for harnessing information communication technologies for national competitiveness and improving the quality of life. The blueprint articulates the vision, goal and strategies that would facilitate the development of Singapore's infocomm industry over the next 5 years and move Singapore into the ranks of "first world economy" of the Net age. This effort will contribute towards making Singapore a leading and vibrant infocomm hub, and an ideal launch pad for international companies seeking to expand into Asia Pacific.
6. I strongly urge you to look into opportunities in leveraging on Singapore to tap in the Asia market. Potential partners in the Infocomm industry in Singapore may present you the regional reach capability, thereby improving your time to market your products or services to the region.
7. In closing, I would like to wish you a fruitful VTM session.