Distinguished guests

Ladies and gentlemen

Good morning.

1.               I am delighted to be here today to present the inaugural Regional Headquarters Award to seven companies.  These companies will complement the more than 300 International HQ companies that are already here. They also add to the vibrant and growing base of over 4,000 companies who use of Singapore as their regional hub.

2.              Singapore has long served as a strategic base for companies with regional and global operations.  We are delighted that companies continue to find Singapore an ideal location for their growth plans.  They cite factors such as the ease of setting up and doing business here, the high quality of our workforce, and the openness and continuity of our economic policies.  Companies have also told us that our excellent IT and telecommunications infrastructure, and connectivity to the region are major pull factors for them.  In short, companies, local and foreign alike, recognise that they can leverage on our many strengths to grow their businesses.

3.               They also appreciate Singapore’s responsiveness and pro-business mindset. This has enabled us to stay ahead of the game as we anticipate and develop new policies to meet the needs of global businesses. Our aim is to make Singapore the best place for businesses and enterprises.  We have over the years undertaken comprehensive economic reviews, removed and refined existing policies and schemes in order to make Singapore even more competitive for business.

4.              Take EDB’s Headquarters Award programme, for example.  Since the inception of the programme in 1986, EDB has revamped it several times, including the introduction of the Regional Headquarters Award and its recent enhancements.  As a result, EDB can now customise packages to cater to the business needs of a wider spectrum of HQs, big and small, local and foreign, and across industries. 

5.              This will be a boon to niche companies and those new to Singapore and the region.  The RHQ programme can now be tailored to suit their needs.  It will benefit both international companies looking to use Singapore as a launchpad for their regional and global business as well as local companies planning to expand into the region.

Helping international companies springboard from Singapore to the region

6.              The four international companies here today - Convergys Employee Care, CSG Systems, Kadence Asia Pacific and Kawiseraya Corporation – are from such diverse fields as HR Administrative services, client relationship management, Marketing Research to the processing and trading of scented wood products.  They come from the US, Europe and Asia and are market leaders in their respective home countries. They are here because they know that by establishing their regional HQ in Singapore, they can find a strategic partner to connect them efficiently and effectively to key markets in the region and beyond.   

RHQ award encourages local companies to expand to the region

7.              The RHQ programme will also benefit our local companies. This programme aims to assist local companies in accelerating their growth plans and to encourage them to root their presence in Singapore.  It will also allow them to establish their headquarters here and use Singapore as a launch pad into the fast-expanding regional markets. 

8.              Our three local companies here today also boast an interesting diversity in industries.  Like the international companies, these companies have become regional or global players in their respective fields, and are looking to further expand their businesses.  Atea Environmental Technology deals with environmental treatment systems while Distribution Management Solutions or DMS is an integrated distribution management solutions provider for the telecommunications industry. Oakwell Engineering is an original equipment manufacturer for the oil and gas, petrochemical, marine and utilities industries. 

Conclusion

9.               I am happy to see a healthy take-up rate by this pioneer group of RHQs today. We welcome other companies to set up their RHQ here. Their presence will not only help us to enhance the mix and sophistication of headquarters operations managed out of Singapore but to boost our position as a major headquarters hub.

10.          In closing, let me congratulate each and every one of the RHQ award recipients today.  I wish all of you much success in the coming years. I am confident that you will continue to find Singapore an excellent base to grow your regional and global strategies.  Thank you.