Your Excellency Mr Teppo Tauriainen

Swedish Ambassador to Singapore

Mr Lennart Jeansson

Executive Vice President & Deputy CEO, AB Volvo

All of Volvo Singapore Management

Ladies and gentlemen

         I am delighted and honoured to be here this afternoon as we witness the inauguration of Volvo’s brand new facility in Singapore.  This building is no doubt going to be another prominent landmark along the Ayer Rajah Expressway and a fitting representation of Volvo, a name synonymous with engineering excellence.

Singapore as a business headquarters hub

2          Singapore is proud and honoured to play host to a global leader like Volvo. Like Volvo, many multinational companies have found Singapore to be an attractive business location.  We are host to some 7,000 international companies, of which more than half have their regional headquarters here.  Just earlier this month, EDB conferred the International Headquarters Award to another 11 companies.

3          And today, we are here to inaugurate Volvo’s new facility in Singapore.  This facility houses much more than Volvo’s regional headquarters.  It also serves as the Asia headquarters for Volvo Construction Equipment, Volvo’s regional parts distribution centre and is the site for end-stage customisation and assembly of Volvo’s marine and industrial engines.

4          This facility also opens up new opportunities for Volvo. For example, I was told that with this new facility, Volvo can now consider storing aircraft parts, in Singapore to serve its Asian customers.  This will allow Volvo to have quicker response to customers’ needs since these aircraft parts need not be requisitioned from the US or Sweden, which hitherto have been the only storage sites for the parts

Singapore’s superior connectivity is key

5          Volvo’s decision to establish its Regional Parts Distribution Centre in Singapore is a firm endorsement of Singapore’s position as a leading logistics and supply chain management hub for the region.  Today, global leaders like Volvo are seeking to streamline and consolidate their logistics and supply chain management operations to improve their time-to-market and overall cost-efficiency. And Singapore is proud to host the Regional Distribution Centres of many of these companies.

6          We believe that Singapore is well positioned to serve these needs because of its five levels of connectivity – air and sea transport, cyber links, free trade agreements, information flow and people networks. Complementing this connectivity is the presence of world class logistics service providers and infrastructure in Singapore. We are determined to continue enhancing our capabilities so that we can better serve the logistics needs of global companies..

Nurturing an endearing partnership between Singapore and Volvo

7          Volvo’s success in Singapore certainly did not happen by chance.  The company has been operating in Singapore since 1979.  Many of us here would have fond memories of travelling in SBS buses.  However, not many of us would know with certainty that we have been enjoying the comfort of Volvo buses since the company sold its first bus to SBS in the early 1980s.  Today, Volvo buses continue to ply the streets of Singapore making up about two thirds of the entire bus fleet owned by SBSTransit.

8          I am glad that Singapore has been able to play a role in the growth and success of Volvo in the region. With this new building and all its divisions under one roof now, I am confident that Volvo will be able to tap on Singapore for further expansion, be it for more regional services or manufacturing activities. 

9          Singapore and Volvo enjoy a strong partnership that we greatly value. With the establishment of this new facility, you have shown your further commitment and confidence in Singapore.  I thank you for this strong endorsement of Singapore. Congratulations to the management and staff of Volvo on the inauguration of your new headquarters in Singapore.  Thank you.