Singaporean enterprises should play an active role in B&R，SBF chairman

Teo Siong Seng, chairman of the Singapore Business Federation (SBF) and managing director of the Pacific International Lines, on January 12 called for Singaporean enterprises to play a more active role in China-proposed Belt and Road (B&R) Initiative.

He suggested Singaporean enterprises should cooperate with Chinese enterprises, give a full display of their own advantages and make contribution to the initiative.

Teo noted that the B&R Initiative has injected new ideas into Singapore business circle. Under the backdrop of a sustained growth of investment between China and Singapore, more and more Chinese enterprises select Singapore as their regional headquarters.

“At present, Chinese enterprises which have registered in Singapore have exceeded 7,000, twice as much as the number registered five years ago. China’s investment in Singapore in 2017 is expected to take up a third in the total investment made by China in all the countries along the B&R routes,” said Teo.

He said that Chinese enterprises that choose to open branches in Singapore will see a rapid growth in the future, which will bring both competition and opportunities for Singapore business circle. Singaporean enterprises should try to seize the opportunity and improve competitiveness.

Meanwhile, local governments in China also welcome Singaporean enterprises to make investments in the locality due to their good reputation and language strength, added Teo.

“Singapore holds ASEAN’s rotating chair in 2018, which will boost its cooperation with China on the B&R,” noted Teo.