Opportunities highlighted in third country markets

Singapore companies can collaborate with South Asian companies to participate in third country infrastructure developments and build “truly globally-competitive” status.

Making this call, Singapore’s Senior Minister of Trade and Industry, Sim Ann, highlighted opportunities for South Asian-Southeast Asian companies in third country markets.

“The infrastructural development needs in a rapidly growing Southeast Asia region thus represents an opportunity for South Asia companies to become truly globally-competitive,” Sim Ann told a symposium of Belt Road Initiative (BRI).

“When approached with a win-win mind-set, there is certainly scope for more mutually-beneficial partnerships to be forged between South Asia and Singapore companies to expand into third country markets such as those in Southeast Asia,” the minister said.

Looking across South Asia, it is evident that Singapore’s companies are increasingly proving their ability to cater to the region’s immense and niche infrastructure needs in both urban and rural environments, she said inaugurating the symposium on 29 Jan 2018.

Sim Ann elaborated, “Singapore as a centre for global trade, transportation, legal and financial services, can be a regional node for the growing number of companies seeking to venture into key markets along the 21st century Maritime Silk Road, including Southeast Asia and South Asia.”

With its fast-paced urbanization and large and growing middle class, South Asia is a bright spot of opportunity, she noted.

For BRI, she pointed out the many areas where companies can collaborate to tap on opportunities arising from regional growth and infrastructure needs.

Infrastructure development and financing was one key area, the minister added.

The one-day think-tank session, BRI: Politics, Potentials and Partnerships, was organized by the Institute of South Asian Studies of Singapore and Pathfinder Foundation Symposium of Sri Lanka. fii-news.com