Magazine article International Trade Forum

Singapore: New Missison, New Name

Magazine article International Trade Forum

Singapore: New Missison, New Name

Article excerpt

International Enterprise Singapore, or IE Singapore, is the new name of Singapore's TPO, formerly known as the Singapore Trade Development Board. The new name reflects the new mission: to help Singapore-based companies to grow and internationalize successfully.

Due to a small domestic market, Singapore-based companies have to consider expansion into overseas markets at a much earlier stage than their counterparts in countries such as the United States or China. IE Singapore's new focus arose from the realization that Singaporebased companies might need extra help to succeed in increasingly competitive international markets.

IE Singapore has identified "3Cs" that are critical to its new mission: Competency. Do companies have the skills and capabilities to sell their products and services overseas? IE Singapore focuses on supporting firms in business strategy, marketing and staff development as they begin exporting. Its Business Information Service has over 30,000 publications, provides statistics and directories and produces market opportunity reports. Capital. Do companies have the financial means to expand? IE Singapore holds workshops, networking sessions and programmes to structure financial solutions for companies to expand internationally.

Connections. Are companies globally connected? Do they have links to their experienced counterparts? IE Singapore develops online and virtual platforms for company networking, such as Network China, which provides business support from sharing information and experiences to business matchmaking.

IE Singapore is also positioning Singapore as an international enterprise hub by encouraging foreign businesses to expand into the region in partnership with Singapore-based companies. …

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