Mr Leong Keng Thai, Director-General Telecommunication Authority of Singapore (TAS) Welcome Remarks at US-S'pore Telecommunications Industry Presentation
Mr Leong Keng Thai, Director-General
Telecommunication Authority of Singapore (TAS)
Welcome Remarks at US-S'pore Telecommunications Industry Presentation
Singapore, 10 June 1997
Mr Larry Irving, Assistant Secretary (Communications and Information),
US National Telecommunications and Information Administration
Mr Matt Flanigan, President, US Telecommunications Industry Association
Ladies and Gentlemen
I want to warmly welcome all US and Singapore companies present here this morning to this event, that we have organised as an incentive brokerage event during the week of Asia Telecom 97 week., for our industries to understand on a broader and more intensive basis, the scope for collaboration and competitive synergies possible between our telecom and information technology industries. I'm particularly happy to, I would like to state my appreciation to welcome Mr Larry Irving and Ambassador Vonya McCann and Mr Larry Irving to for their gracious presence and support at Singapore this event. My thanks also to the US TIA, Mr Flanigan, who, together with TAS took his initiative to organise and help in making this event possible.
It makes sense for US and Singapore companies to expand their links with one another. As two of the most competitive economies in the world, we understand that info-communications telecoms services and technology underpin the growth of regional and global economies. And no other regional economies are experiencing the kind of phenomenal growth which Asia is trade in. In the Asia-Pacific region, telecommunications services and equipment in this region trade has over the last 7 years surpassed levels achieved within by the OECD. Asian economies grew by 7.8% in 1994, which was three times the 2.6% average of the OECD, compared to the OECD's US$36 billion. The current Asia-Pacific telecom services market is now worth some US$128.5 billion alone. From this perspective, we watch with keenness as US industry engaging in es the Asia-Pacific makes sound business sense.
Well then, why link up with Singapore companies? What can they offer? Singapore is working to establish itself as and is well-positioned to be the value-added processing hub for telecommunications and increasingly, multimedia services in the region. It's a role we are well-positioned to play with our current level of telecommunication development, our connectivity within Asia and with other parts of the world, our strategic advantage in terms of understanding the way Asia thinks and does business, our stable and progressive business climate.
There is another reason. Yesterday, you will could have witnessed seen the recent launch of the pilot Singapore ONE network by our Prime Minister at Asia Telecom 97, Singapore-ONE that will furnish on-line trial users a developed suite of services. This network will upgrade Singapore's renew the existing advanced telecoms infrastructure, by making it capable of high-speed multimedia voice/image/data transmission at speeds hundreds of times faster than what is possible today, in phased roll-out until 2004. By the end of 1998, all Singaporean households will have easy and affordable access to Singapore ONE. Singapore ONE is a strategic approach for us to address demand for next-generation services, and in enhancing our up-scaling our NII, and to plug into the larger Asia-Pacific Information Infrastructure.
We will be the first in the world to have a nationwide multimedia broadband network. There is broad and diverse scope for US industry's participation in Singapore ONE network and services provision, and I hope that one of the fruits of this meeting will be the exploration of just such opportunities.
Let me also underscore three other points which will be further presented later on: Singapore's deep-seated attractiveness ones as a value-added telecom services hub for value-added services in the region; Singapore industry's already active involvement in providing Asia-Pacific telecom services and equipment in a number of Asian markets against the backdrop of the Singapore government's regionalisation objective; and our transparent, pro-competitive, telecoms regulatory environment.
I am hopeful that our industries that have come together here, will find ample opportunity to better share market insights, and explore areas of business and technical interest. I believe that there is tremendous scope for our respective telecommunication and information technology industries to explore future collaboration.
TAS, our staff are on hand stand ready to assist you should you require more information on Singapore ONE or Singapore's our regulatory framework for info-communications.
I think all that remains is for me to once again thank you all for being here today and to urge our visitors from overseas to find some time to see something of Singapore other than the exhibition halls of the World Trade Centre!