Business

Singapore can give US tech firms ‘nuanced’ view of Asean markets

With Singapore on track to becoming a Smart Nation and Asean digital capital, opportunities in the digital economy abound for broader and deeper collaboration with US technology companies, said Minister for Communications and Information S. Iswaran yesterday.

Establishing trust between governments, businesses and consumers for cross-border data flows will be crucial, he added.

In a speech at a luncheon held by the American Chamber of Commerce (AmCham) at the Mandarin Orchard hotel, Mr Iswaran pointed to Asean's potential for strong economic growth, given that the region is expected to be among the top four aggregate economies in the world by 2030.

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"This region has burgeoning needs that can be met by American companies.

"Singapore is not only a gateway to other Asean countries, but can also provide companies with a more nuanced understanding of the various Asean markets through deeper partnerships," he told an audience of about 150 AmCham members, including representatives from US tech companies based in Singapore.

The Government has been encouraging local technology companies to tap their digitalisation experience for partnerships with regional counterparts, including at a technology showcase in Jakarta in March to connect 10 Singapore tech companies with Indonesian logistics companies. Three of the 10 have since begun discussions with Indonesian partners.

Mr Iswaran said the Digital Industry Singapore office formed in June, which brings together the Economic Development Board, Enterprise Singapore and the Infocomm Media Development Authority, would also help American companies in Singapore that want to do more through providing a single interface that addresses "the whole gamut of needs". - THE STRAITS TIMES

BUSINESS & FINANCE